Compensation decisions have a major impact on business success, from influencing employee engagement, productivity, recruitment, and retention to affecting profitability and compliance. With so much at stake, it’s important to ensure the right comp tools are in place to help with decision-making in your organization. In the Salary.com Pay Practices and Compensation Strategy Survey Results report, participants cited a number of resources and comp tools used to manage and maintain their organization’s compensation programs. Among the most popular were visual analytics and reporting and survey ma... view blog & white papers details

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

During a recession, businesses and people face tough times as it means less money coming in, more going out, and financial uncertainty. But there are smart ways to spend less and stay stable. This guide shares simple ways for businesses to cut costs during tough economic times, so they can remain secure and ready for better days ahead. Understanding the Importance of Cost-Cutting Cost cutting is important during a recession. It helps businesses handle money better, ease financial pressure, and stay strong against compe... view blog & white papers details

Companies are increasingly looking at a key metric called "revenue per employee" or RPE to gauge their overall productivity and efficiency. This nifty little number can reveal a lot about a business's health and competitiveness. But what exactly is it, and why must businesses care? This article will dive into what revenue per employee is, how to crunch those numbers and why it matters for everyone from entry-level workers to C-suite executives. What is Revenue Per Employee and Why Calculate It? Revenue per employee is a key metric used to see how efficiently a company uses its workforce to gen... 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