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What Is Human Resources?

Analytics in HR

Rewards include salary, perks, and benefits like health insurance, remote work, and performance-based bonuses. Dive in 12 Key Functions of Human Resources to Know in 2023 Why is Human Resources important? Meanwhile, PayScale reports the average annual salary of HR Generalists to be $73,207 in New York and $61,899 in Dallas, Texas.

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Compensation Hot Topics

Affinity HR Group

In a recent Compensation Best Practices Report published by Payscale, a majority of employers reported compensation as their biggest challenge – a bigger challenge than either recruitment or retention. That’s some of the good news for employers in 2024. But don’t relax too much – compensation is still important.

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Salary Negotiation Strategies: Securing Your Worth in the Workplace

Heyyy HR!

Bonuses/Incentives : Often linked to performance, bonuses are meant to motivate employees to achieve certain goals. It includes your base salary, allowances, bonuses, and any other monetary benefits. It’s where employee salaries, wages, bonuses, and deductions are processed. tipped employees).

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When to Offer a Merit Increase: Best Practices and Tips

Primalogik

Using the right rewards and incentives can aid in boosting employee performance , engagement, and job satisfaction. Benefits of Merit Increases for Employees and Employers Credit: Yan Krukau/Pexels Incentives like merit increases can strengthen engagement. Merit increases are one of them. According to MarketWatch, they averaged 3.8%

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Job Growth & Wage Trends

Affinity HR Group

The first half of 2024 saw significant job growth, with an average of 255,000 jobs added each month, surpassing the 213,000 jobs added per month in the second half of 2023. in April 2023 and the high of 14.8% A recent Payscale survey asked participants how base pay increases were determined. in June 2024. in April 2020.

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Pay transparency: the pros, the cons, and best practices

Workable

A PayScale study finds workers are five times as likely to be satisfied with their employer when they understand the reasoning behind their salary versus getting the compensation they want and need from a job. In other words, when performance-laden incentives (and base pay, in general) are made public, a common denominator is determined.

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2023 Compensation Trends Your Org Should Know About

Astron Solutions

Base Pay Trends for 2023 As your organization budgets for base pay adjustments in 2023, you’ll need a strong understanding of the health of the U.S. Trends Different Forecasts for the 2023 U.S. Economy Some experts have forecasted a major recession and the return of higher unemployment later in 2023.