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The Compehensive Dictionary of HR Terms To Know [In 2024]

Analytics in HR

This article unpacks 93 HR terms, including a usage example for each. HR term example: “Broadbanding offers flexibility in employee compensation and encourages people to develop new skills to move higher within the pay range.” HR term example: “Compassionate leave is not the same as bereavement leave.

COMPAS 89
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10 vital HR metrics to track for your business

Business Management Daily

Human resources analytics, a relatively new discipline, is growing at an extraordinary rate and is quickly becoming an essential competency for HR professionals, according to Dr. Michele Rigolizzo, an assistant professor at the Feliciano School of Business at Montclair State University. That said, medium and large companies will benefit most.

COMPAS 59
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A Guide to Compensation Analysis

Analytics in HR

For example, Salesforce found that their engineer salaries were comparable to engineers at Microsoft. As an example, Slack traditionally compensated employees based on localized benchmarks in their New York and San Francisco offices. You may be able to find different ways to remunerate employees, for example.

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A Comprehensive Guide to the Compa Ratio

Analytics in HR

In its original use, compa ratio (or comp ratio, or compensation ratio) is a simple formula designed to compare an individual’s actual salary to the midpoint of a defined salary range. For example, you could use group compa ratio and other data to compare salaries in job groups to other organizations to evaluate external competitiveness.

COMPAS 111
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What Is Salary Range Penetration? Definition, Use, and Examples

Analytics in HR

Let’s have a closer look at this metric and find out how HR can enable managers to use salary range penetration in their hiring, salary raise, and promotion decisions. It gives you very similar information to the compa ratio metric. In compa ratio, it’s simply the salary divided by the salary range midpoint.

COMPAS 98
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5 Compensation Analytics to Track That Answer Your Big Comp Questions

Compensation Today

This is a lesson from our forthcoming ecourse on compensation analytics, and builds on what we covered in the post on setting goals. Be on the lookout for the course launch, which includes helpful examples and insightful exercises — coming soon! Compa-Ratio. Assess: Similar to market-ratio, a compa-ratio of 1.0

COMPAS 79
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How to Use Compensation Analytics to Tell a Story

Compensation Today

This is a lesson from our forthcoming ecourse on compensation analytics, and builds on our previous post on how to dig into comp analytics for specific questions. Be on the lookout for the course launch, which includes helpful examples and insightful exercises — coming soon! You’ve done it! If it’s not there, it’s not there.