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Trends and Best Practices

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New Report Reveals How Top Companies Approach Compensation

The market for data, tools, and technology and the compensation profession are evolving. The technology market and the number of professional compensation roles are forecast …

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Rewards Strategies for Hot Jobs

Creating compelling rewards packages for employees in hot jobs is one of the biggest challenges facing compensation and total rewards practitioners today. In today’s talent …

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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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4 Comp Tools that Drive Compensation Decisions

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 …

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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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Creating Effective Salary Bands That Fit Your Structure

Salary bands, also known as pay bands, are pay ranges given to groupings of roles. Salary bands’ pay ranges are influenced by geography, cost of …

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Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right

The salary midpoint is the middle point of a salary range’s minimum and maximum. The salary midpoint should represent a fair and competitive salary based …

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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 …