Remove Benchmarking Remove Bonuses and Incentives Remove Discrimination
article thumbnail

Employee compensation – what you need to know and why

Workable

Health insurance, life insurance, disability insurance, 401k matching, stock options, employee assistance programs, profit sharing, paid time off, sick days and additional incentives could all potentially be included in an employee benefits package and would count as compensation.

article thumbnail

The Supreme Guide to Sales Compensation in 2023 (With Plan Examples) 

Analytics in HR

Because sales compensation plans play a vital role in attracting and retaining top sales talent, HR needs to know how to design a competitive and appealing compensation structure that offers attractive incentives and rewards to drive performance and sales results. Contents What is sales compensation?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Create a Well-Designed Salary Structure

Analytics in HR

A competitive salary structure helps organizations attract and retain talented employees, establishes a clear and consistent approach to compensation, helps organizations to manage compensation costs, provides transparency to employees regarding their pay, and minimizes the risk of legal challenges related to pay discrimination.

Wellness 130
article thumbnail

How did a white man convince a jury to award him over $10M for race and gender discrimination?

The Employer Handbook

There was evidence the defendant sought to achieve this goal by, among other things, benchmarking its then-current D&I levels and developing and employing D&I metrics to close any diversity gaps. The defendant also adopted a long-term financial incentive plan that tied executive bonuses to incentivize more diverse hires.

article thumbnail

Not Ready to Mandate the Vaccine? Here Are Some Alternatives that May Encourage It

HR Counselor's Corner

Offer an Incentive. Examples of incentives are a bonus or extra paid time off. To make an impact, it might be useful to benchmark incentives with other companies. You might also consider a survey of your unvaccinated employees to learn what may motivate them before you decide what incentive you will offer.

article thumbnail

How to Create an Effective Compensation Philosophy

Analytics in HR

The Lilly Ledbetter Fair Pay Act of 2009 is a law enacted by Congress that strengthened worker protections against discrimination in pay. Unfortunately, a flexible pay philosophy can also lead to perceptions of bias, inequity, unfairness, and even discrimination. Tailored pay. Components of a compensation philosophy.

article thumbnail

Types of Compensation: Everything HR Needs to Know

HR Lineup

HR professionals play a crucial role in benchmarking salaries against industry standards, ensuring internal equity, and addressing any pay disparities within the organization. Variable Pay: Performance-Based Incentives Variable pay, also known as performance-based pay, includes bonuses, commissions, and profit-sharing plans.