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What Is Human Resources?

Analytics in HR

It includes reviewing organizational and HR metrics to measure HR initiatives’ effectiveness on business results. Meanwhile, PayScale reports the average annual salary of HR Generalists to be $73,207 in New York and $61,899 in Dallas, Texas. The average income also depends on location.

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Compensation Review: Your 11-Step Guide to a Fair and Effective Evaluation

Analytics in HR

Market-based compensation reviews: Uses industry benchmarks, competitor data, or economic factors to make decisions on compensation adjustments. Making these decisions requires research, benchmarking data, and leadership advice on budgets, investments, growth, and strategy.

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Top 10 Things to Remember When Tracking Your HR Metrics

U-Next

Metrics are integral part of any business operation. If there is a process or a workflow in a system and the flow has a series of tasks, there need to be several metrics to identify the efficiency of the process and understand the efficiency of those who contribute and participate in it. And in HR, metrics play an important role.

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Compensation Planning in 7 Actionable Steps

Analytics in HR

Even so, a recent study by Payscale found that less than 50% of companies have a strategic compensation plan. According to PayScale’s 2021 Compensation Best Practices report , businesses currently have a more challenging time finding and retaining skilled workers than ever before. This is also known as salary benchmarking.

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Compensation Analyst: All You Need to Know About the Role

Analytics in HR

Benchmarking jobs against data collected and market intelligence to determine competitive compensation for each role. Financial acumen is important when conducting compensation analysis since it requires an understanding of metrics, including earnings per share, revenue, net income, and stock index. Skills and qualifications.

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7 Compensation Issues and How to Fix Them

Analytics in HR

In order to find out what the current market looks like and where you stand, there are a bunch of resources that you can tap into, such as Payscale, LinkedIn Salary, Glassdoor, The US Bureau of Labor Statistics, and salary and benefits information on competitors’ job postings. Tracking compensation metrics. Let’s dive in!

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A Full Guide To the Human Resources Specialist Role

Analytics in HR

This requires HR professionals to make decisions based on data and metrics. Tasks may include: Managing compensation records Benchmarking of compensation Handling annual performance reviews. Human resources specialist job description. Compensation and benefits. HR specialist responsibilities.