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Compensation

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How You Can Conduct a Salary Comparison

A salary comparison, also known as a wage comparison or pay comparison, is a comparison of the pay for two or more positions, either within …

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Understanding the Salary Benchmarking Process

Salary benchmarking, also called compensation benchmarking, is a process by which compensation professionals match internal jobs and their descriptions to similar jobs and descriptions in …

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What is a Salary Benchmark Job in Compensation?

A salary benchmark job is defined as a job that is widespread across many industries. For example, Accountant is a benchmark job. Some companies may …

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The Value of a Total Compensation Statement

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 …

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Compensation Analysis Glossary

A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Performing a compensation …

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What Is a Salary Grading Scale?

A salary grade scale is a pay format where employees are placed within a pay level based on their education and work experience. Each job …

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Defining the Difference Between Average and Median Salary

Median and average salaries are both measures of central tendency or the “middle of the market” regarding compensation. Many organizations target employee pay at either …

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6 Steps to Take Before Creating a Pay Matrix

In today’s war for talent, an increasing number of organizations are leveraging performance-based compensation plans, like bonuses and merit increases, to reward top employees. Research …

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Compensational Professionals and CCP Certification

Earning CCP Certification can be expensive and time-consuming, but often a worthwhile investment. Most compensation professionals view a CCP as a long-term investment that will …

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5 Ways to Eliminate Salary Compression

Salary compression (also known as “wage compression” or “pay compression”) occurs when employees with different skills and experience are paid similarly. When salary compression occurs, …

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Do Men Make More Than Women?

No matter where you are in your career, it’s worth considering how pay gaps may impact you and those around you. Women earned just 85 …

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Designing Compensation Structures: Which Is Right for You?

A compensation structure (or salary structure) is a hierarchal group of jobs that are assigned to salary ranges within an organization. Salary structures are composed …

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The Rising Cost of Turnover

When turnover occurs, costs can accumulate quickly. Download this white paper for tips on how to prevent the turnover wave from crashing down on your …

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Sample Compensation Plan Administrative Guidelines

Download this Sample Compensation Plan white paper to see how the different stages of the compensation planning process come together in your comp …

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Preparing Merit and Salary Budget Increases

Download our key takeaways on preparing merit and salary budget increases to help you design a performance evaluation system and ensure you are using the …

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Embracing Fair Pay in the War for Talent

Download our white paper to see how organizations across the country are using market data, internal analytics, and strategic communication to establish an equitable pay …

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Building and Analyzing Salary Structures

Download our white paper to learn how to model and refine, and maintain and update pay structures within your organization. https://www2.salary.com/l/250572/2021-01-08/2mvxz3h

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What is Broadbanding in Compensation?

In human resource management, broadbanding is defined as having extremely wide salary bands, much broader than in traditional salary structures. While a typical salary band has …

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