Technology ang business practices are rapidly changing. Upskilling and reskilling gained significant traction to keep up with these changes. For employees, that means constantly improving their skills. For employers, that means making sure their staff stays up to date with the latest tools, software, and industry best practices. Upskilling and reskilling are not interchangeable concepts despite their similar objectives of enhancing employees’ skills and competencies. This article provides guidance on whether employees need upskilling, reskilling, or both. Defining Upskilling and Reskilling Com... view blog & white papers details

Banking is a complicated business with different types of financial products and services. Bankers need a wide range of banking skills to succeed as the financial world changes quickly. The future of finance is bright, but only for those willing to invest in honing these banking skills. This article discusses the three most important core, functional, technical, and leadership skills of a successful banking career. Core Skills To thrive in the banking industry, master these three core banking skills: communication, analytical thinking, and attention to detail. Communication As a banker, consta... view blog & white papers details

Compensation management tools are like a GPS for your company's pay strategy. They can help you to navigate the complex world of compensation, ensuring that you are making the best decisions for your employees and your business. With compensation management tools, you can: Identify and track market trends. Benchmark your company's compensation against competitors. Develop and implement compensation plans that are fair, competitive, and aligned with your company's goals. Automate compensation processes, saving time and money. Make better compensation decisions, based on data and insights. If yo... view blog & white papers details

Performance management can get stressful. Both employees and employers feel like they have a lot to worry about. But have you ever considered that you’re approaching it all wrong? Are skills and competencies integrated into your performance management? In this article, we’ll discuss why you should consider a competency-based approach to performance management, and how. Doing so shows that you’re a company conscious of compensating its employees based on performance and effort. It reinforces behavior that will allow individual and company-wide growth. In this article, we’re going to discuss wha... view blog & white papers details

Pay equity is not just a good idea; it's the law. The Equal Pay Act makes it illegal to pay people who do the same work differently based on gender. Title VII, the ADA, the ADEA and other laws prohibit discrimination based on other protected factors such as race, religion, disability and age, including discrimination in pay. Most states have similar discrimination laws. Over 20 states and many cities also have laws designed to prevent pay disparities, such as prohibiting asking a candidate about past salary. This avoids perpetuating pay equity gaps at prior jobs. Pay equity is also a really go... view blog & white papers details

Our partners at WorldAtWork recently published an article explaining the importance of compensation management tools as companies continue to adapt to the rapidly changing business landscape. The past few months have proven especially difficult for HR professionals. Many organizations have had to make some tough decisions in the face of the pandemic – notably seen through widespread furloughs and lay-offs. As some businesses are just trying to stay afloat, it may be difficult to think past what is directly in front of them; however, it is important to consider how their workforce will impact t... view blog & white papers details

We are constantly improving our award-winning CompAnalyst platform with new functionalities that are designed to help you get the right price, for the right job, every time. In this new series, we’ll be highlighting some of our recent enhancements, and demonstrating how they can help your organization navigate today’s rapidly evolving talent market. Earlier this summer, we released our compensable factors functionality, built to help our customers tailor benchmark jobs to more accurately reflect their internal job descriptions. This new functionality illustrates the impact that certain pricing... view blog & white papers details

How performance-based incentives work Performance-based compensation comes with unique benefits. Firstly, it is often a cause of great motivation for employees. With a clear line between effort and reward, it gets high productivity out of the workforce. It has positive knock-on effects throughout the company. For example, it can promote an efficient work environment, and promote positive competition. It makes compensation calculation easy to measure, and straightforward for employees to understand. It encourages a high performance, initiative-taking work culture. However, performance-based com... view blog & white papers details

When it comes to project management, resource leveling can make a big difference. But what exactly does it mean, and why should project managers prioritize it? In this article, we’ll cover the basics of resource leveling—what it is, why it’s important, and how you can use it to make your projects run more smoothly. Whether you’re a newbie project manager or an experienced professional, you’re sure to pick up some useful tips. What Is Resource Leveling? Resource leveling is the process of optimizing how managers allocate... view blog & white papers details

Managing compensation is a tricky balancing act for organizations. You must offer competitive salaries to attract and keep top talent while also managing labor costs effectively. How do companies find the right balance and get the best value for their money? This article will explore five proven strategies that can help companies improve their compensation and control expenses. Top #1: Establish a Compensation Strategy Compensation strategy is a vital part of effective compensation management. This means figuring out how your pay plan fits with your company's goals. For example, will you focus... view blog & white papers details