Upskilling the workforce is critical to the long-term success of a company. There are a variety of ways to achieve this. By taking responsibility for workforce growth, both individuals and organizations enjoy distinct benefits. For example: Improved retention. This is because employees place immense value on the ability to grow their career. Offering employees the skills they need to develop makes the organization the source of this benefit. Increased effectiveness. When organizations upgrade their workforce, they have the potential to guide and develop it in a way that perfectly complements t... view blog & white papers details

According to McKinsey & Company, 87% of managers and executives are concerned with existing or upcoming skills gaps in their organizations. Is this a familiar issue to you? With the looming talent and skills shortage, skills development must be a priority for all employers who want to remain competitive. Creating a skills inventory should be one of the first steps you take. A skills inventory is a list of your employees’ skills, competencies, education, and experience. It’s a systematic approach to auditing your workforce. Employees usually conduct self-assessments or complete skills assessmen... view blog & white papers details

Companies always look for ways to stay ahead in a competitive market. One key strategy is to invest in employee development programs. These programs improve employees' skills and help the company succeed. This article explains why employee development is important, how it differs from training, and provides practical steps for creating a successful program. Understanding Employee Development Employee development programs are designed to help employees learn and improve. They cover technical skills, soft skills, and leadership training. Technical skills training helps employees effectively do t... view blog & white papers details

Every company needs a method to decide fair pay for their employees. Big companies often hire a compensation manager to handle this matter. These managers help set salary levels, organize wellness programs, and figure out how payroll will be structured. To become a compensation and benefits manager, it’s important to understand what the job involves. This article will explain what a compensation manager does, their job responsibilities, how to become one, and the essential skills needed. What is a Compensation Manager? ... view blog & white papers details

Finding the right talent can be challenging. HR departments face the challenge of identifying individuals who possess the necessary skills and align with the organization's values and objectives. This article talks about Employee Core Competencies as a crucial HR tool in the hiring process. It looks into how these competencies make hiring easier, ensure everyone gets a fair chance, and help build strong and successful teams for companies. Understanding Employee Core Competencies Employee core competencies are the vi... view blog & white papers details

A company decides on how much to pay its employees through salary benchmarks. This means they base their pay packages on how much similar companies offer. Using benchmarks helps companies manage their budgets and attract and keep skilled workers. In this article, find out what salary benchmarking is, why it is important, and how to use it to create fair and attractive pay packages for your employees. What is Salary Benchmarking? Salary benchmarking is more than just collecting data. It's a way to compare and adjust salaries within a company by looking at industry standards and market informati... view blog & white papers details

It feels that advances in artificial intelligence are transforming the work landscape on a weekly basis. Depending on your perspective, this is either exciting or terrifying. In this article, we will dive into how organizations can leverage AI in human resources and whether it has a positive or negative effect on their business practices. Understanding AI in Human Resources There is a lot that AI can offer HR departments, but it can also prove to bring challenges. AI in human resources can take over some routine tasks such as screening resumes or scheduling interviews. As a result, your HR tea... view blog & white papers details

When it comes to compensation, pay market matters. Defining the pay market goes beyond just geography to include factors like industry and company size. As companies look to attract and retain top talent, understanding pay market definitions provides critical insight. With various elements to consider, how can business leaders build an approach to pay markets that balances competitiveness and equity? This article explores the key components that comprise a pay market. It covers how these factors work together to create effective pay strategies. Moving beyond location, a multi-faceted view of t... view blog & white papers details

Working from home has changed how people work. This setup gives workers more freedom and makes work a lot easier. And amidst this shift, it is crucial to recognize how remote work influences compensation planning. Aside from convenience, working from home brings up other things to contemplate on that can change how companies decide on pay. This article discusses four key ways remote work affects compensation planning. It will shed light on vital considerations for businesses navigating this new era of work dynamics. Prioritizing Security Keeping information safe is crucial when people work fro... view blog & white papers details

You have heard a lot of buzzwords lately such as digitization and fintech. But what do they mean for financial services? Get ready for a deep dive on how tech can empower employees and transform old-school banks and insurers from the inside out. Today, explore the potential benefits, such as faster feedback and recognition. But the risks as well, like a backlash from change-resistant company cultures. After reading, you will see the huge opportunity along with some big challenges to overcome.  Technology may not magically reinvent finance overnight, but it can be an exciting catalyst for new w... view blog & white papers details