There are various processes within a company that can be tough. For one, processes involving workers’ compensation is a good example. There are massive data, complex models, and various aspects to consider for these processes. To make things easier, firms use the latest technology. One example is compensation management. They usually have compensation software to help with tedious and time-consuming tasks. Also, pay equity is one of the most talked about topics involving pay. As a result, firms also employ the latest tech to manage it. Compensation Management Every company uses compensation ma... view blog & white papers details

Welcome to the fifth edition of the “compensation corral” – a monthly round-up summarizing 10 topically relevant articles in compensation trends. The European Union's General Data Protection Regulation (GDPR) went into effect on May 25, 2018. The GDPR has been a hot topic in the HR industry lately. And compliance, salary history inquiry bans, and artificial intelligence (AI) lead the conversation. Here’s the top 10 articles we feel are worth the click: 1) Smart Trend: Tips to Ensure Your Compensation Plan Is Compliant with the Law When creating a pay plan, it's not just the employer and employ... view blog & white papers details

Facilitating knowledge and skills transfers across teams and departments is an important component of an organization’s operations. If effective, communication, collaboration, and growth can thrive. Organizations can struggle to find the right balance when deciding what to do, however. In this article, we will dive into what the best practices are for facilitating knowledge transfer and skills development across teams and departments. Let’s begin by understanding the needs of an organization. Understanding the Needs of an Organization Before ensuring skills transfers and knowledge sharing are ... view blog & white papers details

Building external partnerships can enable your employees to expand their capabilities and develop their skills and competencies. When done effectively, new knowledge penetrates different areas of your organization. A positive impact on productivity and efficiency can occur as a result. In this article, we will walk you through what external partnerships may look like. We will also learn about the benefits of collaboration with external partnerships. Without further ado, let’s begin by understanding why you need to identify skills and competencies gaps in your organization. Identify Skills and ... view blog & white papers details

Effective skills and competencies initiatives are essential for an organization’s success in the future. How can organizations ensure that these initiatives are cost-effective and efficient, however? Are you Paying Fairly and Equally? Market price a job quickly with CompAnalyst® Price a job In this article, we will answer this question and give you some tips on how to make sure that your skills and competencies are cost-effective and efficient. Let’s begin by discussing what skills and competencies initiatives are. What Are Skills and Competencies Initiatives? Skills and competencies initiativ... view blog & white papers details

If the pandemic taught us anything it’s that smooth sailing is never guaranteed. It’s important to prepare your company for unexpected hiccups. At the forefront of this is actively future-proofing your workforce. The aim is to have the right talent and skills at every position and at all times to evolve with industry changes. Recent Workforce Shifts Nobody expected the pandemic and its effects on the way we work. So, if you can’t predict the future, why should you plan for it? Well, many of the changes we saw weren’t exactly out of the blue – they were just accelerated. Here are some of the re... view blog & white papers details

The U.S. is facing acute labor shortages. This fact means there are more job openings than qualified workers available. In most states, the primary causes of these labor shortages are an uneven employment landscape (with specific industries experiencing rapid growth while others suffer from disinvestment) and an aging population with fewer new workers entering the workforce. So where are these labor shortages the worst? Let's look. Where the Labor Shortages Are Most Severe Some industries suffered more than others. So, let's look at where the needs are the most severe. Healthcare Due to an agi... view blog & white papers details

When the same role in one company pays $60k, and the other pays $45k, it’s a no-braining which one you’ll choose. But take this scenario: Option 1 Option 2 $53,000 $56,000 Top healthcare coverage Minimal healthcare coverage Tuition (skills related to the job) reimbursement Basic pension plan Transport/petrol subsidy Friday early finish Gym membership Hybrid workweek Which role are you more likely to take? Competitive compensation plays a key role in attracting and retaining top talent. It’s vital to consider the perks you’re offering and how it’s helping you do what’s best for your organizatio... view blog & white papers details

It can be easy to neglect compensation compliance when you feel overwhelmed by all the considerations. Laws and regulations around pay practices exist to protect employers and employees. Taking a compliant approach ensures you’re doing what’s best for your team, helps attract and retain talent, and most importantly keeps you out of legal trouble. We’ve broken compensation compliance down into useful questions that, when answered, will offer insight into what you’re doing right and what needs addressing. This is a good starting point, but the whole process requires a lot of compensation researc... view blog & white papers details

Originally published in HR Dive. Pay transparency is gaining considerable momentum, with four states (Connecticut, Rhode Island, Nevada and Colorado) recently joining the ranks of five other states that have amended pay equity laws to require wage range disclosure. However, with the prevalence of remote work making all recruiting national, the reach of these laws effectively extends beyond state borders. The emerging trend to further increase pay transparency has compelled many companies to take a hard look at how their organizations measure up when it comes to pay equity. The hard looks might... view blog & white papers details