Pay equity is not a one-and-done process. It is an ongoing commitment with no end. As new recruiters join your team, employees make shifts, and others leave, your pay equity requires revisiting. It’s hard work, but it is the ultimate way of demonstrating that you respect an employee and their value to your organization, regardless of their gender or race. When you leave addressing pay equity matters to the last minute, it can become overwhelming. It could seem too costly or time-consuming for you to even bother with. However, employers must be compliant with state and federal laws so ignoring ... 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

A compensation strategy brings together the important elements of your organization. It should reflect the culture and values, the business priorities, and make compensation decisions efficient, fair, and compliant with employment laws. It seems like a big task, but the right information and tools can make a huge difference. Why You Need a Compensation Strategy For many industries, especially those based on service, labor is one of the largest business costs. Organizations are also seeing higher than usual turnover, which is also expensive. And employment is highly regulated, making compliance... view blog & white papers details

Have you ever been in a situation where you realize that you didn't hire the right person for the job? I know I have. If you’re like me, you felt frustrated and disappointed, for yourself as a manager and for the employee, too.  Not only is there an impact to your organization, but there’s an injustice to that individual. And in many cases, you’re not in a position to make a change without considerable pain for all involved. Not a great situation, especially when you consider the cost of hiring the employee. I have seen reports that say it can cost anywhere from $10,000 to over $300,000 to acq... view blog & white papers details

The purpose of a Total Compensation Statement, otherwise known as a Total Rewards Statement, is to make the employee realize the overall value of the compensation they are receiving. In many cases, the employee doesn’t know what makes up their total compensation, and their paycheck or stub is never going to indicate why they get paid what they get paid. Learn about what makes up a total compensation statement, and how that information can be used to rationalize your own or your employees’ paychecks. What makes up an employee’s total compensation? A total compensation statement tells employees ... view blog & white papers details

It’s pop quiz time. You are in the process of pricing a job, can you tell me the value of an entry-level accounting role in your organization? What about how much a software engineer or an administrative assistant is worth to your company? If you answered “no” to either of these questions, then it might be time to consider implementing market pricing into your compensation strategy. Market Pricing a Job Market pricing a job is the process used to determine the external value of a position, and it is fast becoming the norm for organizations as they establish competitive compensation practices. ... view blog & white papers details

There are many ways for companies to cut costs. But employee compensation is one area that is tricky to reduce without damaging morale or productivity. Even in recessions, it is rare to see companies immediately slash wages. Why is that? This article explores tactics for carefully reducing compensation costs and explains why wages tend to be "sticky" even when times get tough. With real-world examples and insights, this guide is a must-read for any manager looking to trim expenses without compromising their talent pipeline. Strategies include revamping bonus structures, freezing salaries, or g... view blog & white papers details