Compensation managers are tremendously valuable to any business. Employee salary and benefit expenses typically represent 40% to 80% of an organization’s gross revenues, and comp managers manage every penny of the process. Their work impacts productivity and is faster than a speeding budget. Some say they can leap office buildings in a single bound! Compensation Managers Save the Universe The Bureau of Labor Statistics states that compensation and benefits managers plan, develop, and oversee programs to compensate employees. While accurate at a simplistic level, the impacts of compensation wor... view blog & white papers details

Creating a solid compensation plan helps attract, retain, and motivate employees. And to successfully do this, the first step is choosing the right data sources to base compensation decisions on. Consider a medium-sized tech company that faced high turnover and low employee morale a few years back. They realized their pay plan was not keeping up because it was not competitive enough. After getting advice from data experts and using both traditional surveys and crowdsourced data, they revamped their pay strategy. This new approach helped them cut turnover by 20% and greatly improve employee... view blog & white papers details

Startup companies are becoming increasingly important in different fields, so knowing about compensation trends is important. Leaders in up-to-date pay data, such as Salary.com, are changing how businesses deal with the tricky area of startup pay. By having current information about pay trends, startups can design their pay packages to match what others in the industry are doing and meet the changing needs of their employees. This article will look at how having real-time compensation data is changing startup businesses. It will also discuss its impact on decision-making, market flexibilit... view blog & white papers details

In today's evolving business world, staying ahead is crucial for success. One area that is important is Human Resources (HR), which manages the company's workforce. As technology changes how businesses work, HR strategies need to change too. This article will talk about the three signs that it is time for a Human Resources digital transformation. Understanding these is vital for companies that want to do well in the digital age. Look at these key indicators and see how using digital tools can make HR better and help companies grow. Explaining the Shift to Digital HR Human Resources Digital Tra... view blog & white papers details

It can be tough for employees to see the big picture when they have day-to-day tasks. That said, companies must align individual employee goals with broader company objectives. In this way, it creates a shared sense of purpose. Employees see how their work impacts the company’s success. This promotes greater engagement, productivity, and retention. This article will explore four best practices for aligning employee goals with company objectives. Learn tips for setting aligned goals and communicating them clearly. Find out how to effectively track progress and reward achievement. With some thou... view blog & white papers details

With a new year comes a new goal, and for pay experts, that often means taking a fresh look at pay strategies. Even with economic fluctuations, companies strive to remain competitive to attract and retain top talent. This article will explore three key compensation goals to focus on in 2024. From ensuring pay equity to offering benefits that provide value and flexibility, pay teams have vital goals ahead of them. With thoughtful planning, companies can make progress on pay programs that support business goals and employee satisfaction. The coming year offers a chance to lay the groundwork for ... view blog & white papers details

Employees need to know their strengths to win and succeed in their careers. But in a highly technical world, focusing solely on soft and general skills is not enough. Technical competencies are equally, if not more, vital. Functional competencies are always useful. But technical competencies are what define a talent. For any role, technical competencies play a crucial part in shaping results. It is time to stop failing to appreciate their essence. This article makes the case that technical competencies deserve just as much thought as functional competencies. The future belongs to those who are... view blog & white papers details

Performing an online employee survey is one of the best methods to understand the viewpoints and opinions of your company's employees. It isn’t all good news, however, as there are also some potential drawbacks when conducting an online employee survey. If you’re not sure right now, don’t worry! This article delves into a comprehensive discussion of the benefits and potential drawbacks of conducting an online employee survey. After reading, you can then decide whether or not to proceed with running an online employee survey within your company. Let’s begin by understanding what the benefits of... view blog & white papers details

When your business operates 24/7 or for extended periods, it can be hard to structure employment. Shift schedules could be your solution. This is a common method utilized in industries such as manufacturing, healthcare, and hospitality. There are different types of shift work and each has its advantages and challenges. In this article, we’ll discuss fixed, split, rotating, on-call, and part-time shifts with industry examples, and offer tips for creating and managing shift work schedules. Shift Work Schedules Defined Shift work involves employees working in rotations to cover extended working h... view blog & white papers details

Talent management systems have the potential to transform your business. With a talent management system, you can improve your chances of attracting, retaining, and developing employees. It is important to note, however, that a talent management system isn’t for every organization. In this article, we will walk through what a talent management system is, and the benefits organizations can reap by implementing them. By the end, you should have a good idea of whether or not you want to invest in a talent management system for your organization. Are you Paying Fairly and Equally? Market price a j... view blog & white papers details