Compensation Today

SEPTEMBER 7, 2016

I’m thrilled to be joining some of my PayScale colleagues in presenting at Compference 16 next week, where I’ll be partnering with Kaylyn Messer, Senior Customer Success Manager, to talk about understanding and using our salary data reports. Learn to utilize all of the #PayScale products at #Compference16! Click To Tweet.

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Analytics in HR

JANUARY 25, 2022

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 Today

MARCH 20, 2017

PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of all organizations have a comp strategy. Here’s an example: The Smith Company will use 10,000-employee sized companies in the Software Development industry in our local markets for competitive benchmarking. What is a compensation strategy?

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Compensation Today

AUGUST 17, 2017

We live, love and dream about data here at PayScale, and big data is driving business and pay decisions across industries and functions. Often folks will begin market benchmarking by looking at data cuts for jobs in their specific industry, location or company type/size. Would anyone report to them? Data, data, data.

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Compensation Today

MAY 3, 2017

Every year, the age-old question would come up when it came time to benchmark our fundraising and programmatic jobs. We have gathered compensation best practices from the more than 400 respondents to the PayScale Compensation Best Practices Report who are in the nonprofit industry. Are you paying your top people right?

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Compensation Today

JULY 5, 2017

Job benchmarking to market data – 2. Tip: Ease the effort of the increase process with PayScale Crew. Employee total comp reports – 2. Some of these projects (or pieces of projects) might overlap or be interdependent — for example, job benchmarking to market data will need to occur prior to building pay ranges.

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Analytics in HR

JUNE 22, 2022

Preparing and presenting reports of job and compensation analysis. Benchmarking jobs against data collected and market intelligence to determine competitive compensation for each role. According to Payscale , the average annual base salary for a compensation analyst in the U.S Skills and qualifications. Over to you.

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Zenefits

MAY 9, 2019

Note that survey data should be collected by a third party rather than self-reported by employees to ensure accuracy. Other tools like PayScale, Salary.com, and LinkedIn Salary require a subscription or payment to access data but contain a larger number of job titles and data sets. This process is called compensation benchmarking.

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Analytics in HR

NOVEMBER 1, 2022

Tasks may include: Managing compensation records Benchmarking of compensation Handling annual performance reviews. In a report by ZipRecruiter, the average US salary of a human resources specialist is $51,949 a year (as of October 2022). What is your experience in making reports on staff performance? Compensation and benefits.

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PlanSource

APRIL 8, 2019

Read the full report. Gallagher’s Best-in-Class Benchmarking Analysis found similarities in employee benefits management across both midsize and large employers. Read a full summary of the report from BenefitsPro. Payscale, 2019. Compensation Remains the Biggest Driver in Employee Turnover. Sign Me Up! Stay In The Know.

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Decusoft

NOVEMBER 5, 2021

Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys. A PayScale survey found that 51% of employees believe they aren’t paid fairly even if they’re at or above industry benchmarks. ADP reports that most U.S. And workers are confused.

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Compensation Today

MARCH 22, 2017

As we discussed in part one of this series , PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of organizations have a defined compensation strategy. The result of that conversation should be a decision on the cut of salary data you will use for benchmarking: industry, size, revenue and location(s).

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Analytics in HR

APRIL 25, 2022

You will also be able to collect and analyze data to generate reports and make data-driven decisions. Payscale is an easy-to-use software that offers choices based on company size for small businesses to global enterprises. It syncs with Microsoft 365 and Google Calendar and offers flexible reporting and advanced analytics.

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Ongig

AUGUST 15, 2022

Be sure to conduct regular salary benchmarking by evaluating your company’s pay standards. A July 2022 report by Willis Tower Watson revealed: “(64%) of U.S. 82 cents for every $1 made by men , according to Payscale’s 2022 State of the Gender Pay Gap Report. And, check how competitive salaries are in the market.

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Compensation Today

SEPTEMBER 25, 2015

Ashley Adair, PHR SHRM-CP, Benchmarking Team Lead at PayScale Whether we want to admit it or not, compensation is emotional. See how PayScale can help. Ashley joined PayScale in 2012 and currently manages our Benchmarking department responsible for the job matching and market analysis reports for all 3,400 of our customers!

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Compensation Today

JULY 23, 2015

Taylor, PHR, SHRM-CP, PayScale Senior Blogger At the intersection of business objectives and recruitment is a strong compensation strategy. 2 – Analyze the Current Compensation Plan Decide if your compensation plan needs a do-over by comparing it to current salary range benchmarks for every job description.

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U-Next

APRIL 17, 2020

The data from this metric can be used to take long term decisions and set ground rules and benchmarking standards. Track Absence Rate per Reporting Manager Another crucial metric that you should track is the number of employees absent under different reporting managers for a given time period.

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Heyyy HR!

JUNE 5, 2024

Salary Surveys and Benchmarks Utilize surveys : External compensation agencies have the best data. As a recruiter or HR professional collecting data, you should always consider pulling reports from your Human Resources Information System (HRIS) that includes employees with the same job titles and skill sets to determine internal ranges.

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Tandem HR

FEBRUARY 9, 2022

Benchmark Jobs to Market. Here are some additional tips: When benchmarking to market, compare the position criteria/description versus position title. According to the PayScale 2021 Compensation Best Practices Report , remote work is on the rise and will likely remain a hot benefit to employees after the pandemic ends.

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HR Daily Advisor

FEBRUARY 14, 2017

Employees who went to the website, looked at their colleagues’ earnings, and found they were paid less reported much lower job satisfaction when compared to employees who were also paid less but had not compared themselves against their colleagues. What data – market study or benchmark – was it based on?” Patterson continues.

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Analytics in HR

OCTOBER 27, 2023

Every new hire should receive a clear report of their compensation package and know who to contact if they have any questions. According to a survey by Future Forum , 95% of respondents care more about flexible hours than remote work, while a report by Adobe found that 84% of enterprise employees would like some flexibility.

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Compensation Today

AUGUST 20, 2015

By Sonnet Lauberth, PayScale Compensation Professional Compensation can be a tricky topic, especially within the non-profit sector where many employees feel that they are “overworked and underpaid.” Depending on your strategy, you might benchmark against other non-profits, private companies, or a mix depending on your workforce.

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Analytics in HR

DECEMBER 15, 2023

Data analysis – Translate the data into a monetary value through the ROI formula: Net return on investment ÷ Cost of investment ​×100%​ = ROI Reporting – Finalize the impact study by creating a report that explains the key findings with qualitative and quantitative data. Glassdoor shows a total pay range of $59,000-$89,000 US.

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Dr. Nadine

OCTOBER 4, 2018

If you come to the discussion primed with a solid understanding of industry benchmarks, your argument will be more cogent and you’ll be better able to justify your desired salary. According to a report released by Northwestern Mutual, salary typically accounts for only 70% of an employee’s total compensation. They do so at their peril.

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Oracle HCM - Modern HR in the Cloud

OCTOBER 10, 2019

” Market data, industry benchmarks, and application of best practices are useful, but also too generic. The right compensation strategy and structure can help us both hire and retain great talent. The challenge with developing the right compensation strategy is that there is no “one size fits all.” You cannot stop there.

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Compensation Today

MARCH 3, 2017

Ensure that jobs are benchmarked accurately, and understand where comparable employees are paid in the range for that role, as well as how their experience, degrees, certifications and expertise have impacted that pay. Be honest and don’t shy away from the problem.

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Heyyy HR!

JUNE 13, 2024

This benchmarking process helps ensure your offers are in line with industry standards, which is critical in attracting and retaining talent. Tax Requirements and Reporting Employers must withhold the correct amount of taxes from employee wages and be responsible for accurate tax reporting.

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Entelo

JANUARY 30, 2019

The 2019 Recruiting Automation Trends Report has unveiled this year’s most important trends in recruiting, from the ways in which organizations leverage recruiting automation to the most successful strategies for bolstering diversity and mitigating unconscious bias in hiring. This week, we've tackled financial services.

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PI Worldwide

APRIL 26, 2019

As a team manager working with direct reports every day, you play a crucial role in recognizing and rectifying pay gaps on your team. Tools like the Glassdoor salary calculator and PayScale can help you benchmark what fair compensation looks like for a given role. Read the results of the full report on equal pay here.

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Vantage Circle

SEPTEMBER 8, 2021

76% of employees reported that their compensation is one of the first things they consider while accepting a job. According to a report by PayScale , companies who are serious about being competitive will need to invest in solid compensation management. Industry pay benchmark. Company's organizational hierarchy.

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Zenefits

JANUARY 31, 2022

Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. We recommend using industry benchmarks. Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. This process is called compensation benchmarking.

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Business Management Daily

OCTOBER 18, 2023

The Pew Research Center found that women were slightly less likely than men to ask for more money during salary negotiations, and that 42% of women report that they don’t feel comfortable asking for higher pay. However, if you are doing regular compensation increases and proper salary benchmarking, this shouldn’t really be a big drawback.

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ClearCompany HRM

APRIL 11, 2023

ClearCompany’s Spring 2023 Product Release contains 6 new product lines and 11 new features, including #Compensation Benchmarking and Mass #EmployeeTexting for recruiters: A New Look to Match Our Refreshed Brand Identity We released a refreshed brand identity earlier this year, so it’s only fitting that our product gets a matching facelift.

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Workable

JANUARY 3, 2018

Benchmark and forecast your hiring. Looking for better reporting analytics? Workable’s reports will refine your recruiting process. What recruiting data would help you build reports for your managers? Your applicant tracking system (ATS) may already have reporting capabilities that will do your work for you.

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Ongig

SEPTEMBER 11, 2024

Enjoy the in-depth analytics suite and find specifics by running reports on any field featured in the user-friendly dashboard. The integrated applicant tracking system also offers performance reports and analyses to steer decision-making and enhance outcomes.

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Zenefits

JULY 9, 2022

Data for wage disparities is reported largely along racial and gender lines, with most of the emphasis on pay inequities between women and men. A Human Rights Campaign report shows that employers pay LGBTQIA+ workers 90 cents on each dollar everyone outside of their community receives. Hard data is evidence that the pay gap is real.

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HiBob

MARCH 3, 2024

The gender pay gap is getting narrower, but at a glacial pace as shown by this 2024 Payscale survey. Annual reports. Companies with over 250 people must submit reports on gender pay gaps with information on average pay levels to the national authorities every year. Job advertisements must now include pay scales or salary ranges.

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