Compensation Today

JULY 28, 2015

Taylor, PHR, SHRM-CP, PayScale Senior Blogger Recently, I wrote about the sluggish state of the US economy and its impact on wages for the third quarter of 2015. Are employee bonuses the new compensation strategy? Will more employers offer bonuses? But, I neglected to mention one thing. They can also be creative.

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Compensation Today

MAY 18, 2017

Among discussion of customer success best practices and trends, there were also deep-dive sessions on customer education and training — my personal area of interest as the Manager of Customer Education here at PayScale. What is the pay schedule and when are bonuses or incentives measured and paid out?

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Compensation Today

APRIL 26, 2017

In the 2017 Compensation Best Practices Report , PayScale shared that most companies do link compensation to performance. And 64 percent of organizations recognize high-performing employees with bonus or incentive (either goal-based or without a formal plan). Be Bold About Pay Strategy. Click To Tweet. Develop Your Pay Brand.

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Compensation Cafe

DECEMBER 5, 2019

Employees gather statistics-lite data from sites like Payscale, Glassdoor and Quora and treat it as equivalent to any data you may offer. It's time to accept that your job has changed from gatekeeper (limiting access to pay knowledge until employees are "ready") to educator (describing the nuts and bolts of salaries and incentives).

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Zenefits

DECEMBER 29, 2021

In addition, as a rising number of organizations adopt remote work, there is an increased need for clear communication regarding salary negotiation, benefits packages, and incentives. Creating a compensation philosophy that aligns with your company strategy is one way to strengthen hiring and retention.

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Heyyy HR!

JUNE 5, 2024

It reflects not just your professional skills and experience, but also it also impacts your career goals and career strategy (or way of accomplishing your career goals quicker and easier). Bonuses/Incentives : Often linked to performance, bonuses are meant to motivate employees to achieve certain goals.

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Zalaris

MARCH 18, 2024

These factors make it imperative that you convey to potential hires and current employees how much your company values their contributions as part of your talent acquisition and retention strategy. Why do you need compensation strategies? Merit-based remote work compensation. Benefits and entitlements that extend to remote workers.

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Compensation Bonuses and Incentives Hiring Software Assessment Software 52

Accendo Technologies

SEPTEMBER 25, 2024

Larger companies offer a mix of performance-based bonuses, stock options, flexible benefits, and comprehensive retirement plans. These are designed to ensure financial security and offering incentives for long-term loyalty. Start designing a strategy that works for both your employees and your business today.

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Compensation Today

JULY 21, 2017

We’ve written a lot at PayScale about compensation communication — especially about WHY talking about compensation is important, and WHO should be talking about pay. – Explain the details of any bonus, incentive or variable pay plan including eligibility, measurement and payout.

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Analytics in HR

JUNE 22, 2022

In the competitive candidate market, organizations need to get their compensation strategy right. The compensation and benefits landscape is constantly changing, which means that strategies that worked a few years ago will no longer ensure your organization is compliant and competitive now and in the future. Over to you.

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HRsoft

AUGUST 23, 2018

According to an article in Employee Benefit News , companies can benefit from pulling data from a range of sources, such as crowd-sourced pay data from tools like PayScale as well as other outside surveys. Linking pay to performance is an effective way to encourage specific behaviors that align with your organization’s strategy and goals.

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Vantage Circle

OCTOBER 21, 2021

Payscale Marketpay. Payscale Marketpay. By using MarketPay's best-in-class tools, you can price jobs correctly, influence pay strategies, and provide executives with accurate information quickly without the risk of error. Table of Contents. Payfactors. Salary.com. SimplyMerit. Ceridian Dayforce. Oracle PeopleSoft. Payfactors.

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Compensation Today

OCTOBER 28, 2015

Joleen Oerman, B2B Content Marketing Specialist, PayScale Welcome to the Compensation Roundup, where we bring to you the hottest news in comp! As we bury the annual raise, we see the bonus ascend into the corporate universe—replacing the raise with incentives to perform at a high level. So, how do you compete?

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Compensation Today

JULY 26, 2017

As a PayScaler and a people manager, one of my all-time favorite features of our PayScale Insight product is the (newly updated!) Role-play these conversations with managers and equip them with details about the company’s pay philosophy and comp strategy. Check out PayScale Professional Services.

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Affinity HR Group

JUNE 14, 2024

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. And 53% of those employers reported that they would increase focus on development of a compensation strategy for 2024.

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Linkedin Talent Blog

OCTOBER 17, 2022

And make sure to communicate clearly and consistently about the program, particularly its incentives. Most companies offer referral bonuses contingent upon a hire or upon the referral staying with the company for a specific amount of time. Experts at McKinsey suggest getting creative when it comes to referral programs.

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Astron Solutions

SEPTEMBER 19, 2017

According to the National Council on Nonprofits : A strategic planning process identifies strategies so that a nonprofit will achieve its mission. There are three things to look for when it comes to creating a strong compensation strategy in the nonprofit sector. Trend #2: Compensation Philosophy Statements.

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Oracle HCM - Modern HR in the Cloud

OCTOBER 10, 2019

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.” Top performing, fast-paced organizations deliver spot and project completion bonuses on top of base pay.

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Compensation Cafe

APRIL 18, 2016

Research from the firm PayScale may help to answer at least some of those questions, with their annual analysis of compensation trends and activity. It turns out that high performers are more likely to provide pay increases (90% compared to 84%), bonuses (81% compared to 74%), and are also likely to leverage more of a compensation mix.

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New to HR

APRIL 28, 2015

But hierarchies also tend to organise the working environment by rank, with the higher levels of management separated from the workface not only by grade and payscale, but by distance, reducing effective co-operation. Are flat organisations smarter? External equity: a spanner in the works?

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Primalogik

OCTOBER 17, 2024

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. Should you make merit increases public?

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Heyyy HR!

JUNE 13, 2024

Adept HR professionals are critical to fostering a work environment that balances employee engagement with effective business strategies. Salary Structures in Human Resources When designing your HR compensation strategy, understanding various salary structures is crucial.

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HR Shelf

SEPTEMBER 4, 2023

This proactive approach allows companies to offer pay raises and bonuses in line with market trends, ensuring that top performers don’t feel undervalued and start to get itchy feet. And quite aside from base salaries, additional incentives such as bonuses and benefits represent significant costs for companies.

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Compensation Today

DECEMBER 2, 2016

The key is to be able to explain why your data matters more, aligns with company objectives and strategies, or from a more reputable source. Increases aren’t the best thing to negotiate as it undermines the comp strategy and rationale. If you think yours may come prepared, plan ahead and come with data of your own. Let us know below.

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Compensation Today

DECEMBER 19, 2016

Going are the days where companies stop at giving discretionary bonuses that are unlinked to performance. That includes using team-based incentives to drive collaboration, providing creative perks , and offering performance-based incentives across the organization from executives to individual contributors.

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Avature

MARCH 30, 2020

In an effort to promote referrals, the majority of organizations offer related bonuses that can be anywhere between $1,000 and $5,000 for successful placements. Some, in the place of money, offer other incentives such as extra vacation days, day trips and expensive gifts. Employee Engagement, Before and After.

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Avature

MARCH 30, 2020

In an effort to promote referrals, the majority of organizations offer related bonuses that can be anywhere between $1,000 and $5,000 for successful placements. Some, in the place of money, offer other incentives such as extra vacation days, day trips and expensive gifts. Employee Engagement, Before and After.

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Hiring Software Bonuses and Incentives Recruiting Software Assessment Software 52

Linkedin Talent Blog

APRIL 3, 2018

A recent report from PayScale shows that job referrals can bring more engaged employees into your company, but tend to benefit white men a lot more than women or people of color. During a four month period in 2017, PayScale surveyed 53,000 workers to find out whether they got their job through a referral.

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Compensation Today

OCTOBER 19, 2015

Jenni Marquez, CCP, PayScale Compensation Professional Even the most seasoned HR professional might take a big gulp if approached by their CEO to take charge of anything comp. PayScale has you covered in our new, 4-part Comp Glossary. Today’s Lesson: A Little Comp 101 Consider the comp pros at PayScale to be an extension of your team!

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Workable

FEBRUARY 7, 2024

Workers feel respected when employers are transparent about salary strategy. 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. It’s not just about the pay itself.

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Thrive TRM

JANUARY 4, 2024

Just like no two talent partners operate similarly from firm to firm, no two executive compensation data sources are similarly helpful all of the time, and no two executive compensation strategies look the same either. The post 3 Tips for a Better Executive Compensation Strategy appeared first on Thrive TRM.

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Compensation Today

APRIL 19, 2016

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger It always seems as if one company tries to be progressive in terms of it’s compensation strategy, it shakes things up for the rest of the business world. This comes on the heels of somewhat stagnant growth and the company’s efforts to retain key employees with generous bonuses.

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Compensation Today

APRIL 6, 2016

By Kari Van Hoof, CCP, PayScale Compensation Professional At PayScale, we strive to help all kinds of organizations embrace modern compensation practices to engage their workforce and drive results. Look at ways you can introduce small discretionary bonuses to recognize stellar employee performance and then publicize it when you do.

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GetFive

SEPTEMBER 24, 2021

study said boards should be fired if companies don’t walk HR’s talk, there was more employer backlash against Texas, the holiday hiring market got more grim, and a study showed most employers don’t have a pay strategy for remote workers. This week in HR, it was “show me the money” for HR budgets, a U.K. ” Geo News. ” SHRM. .

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Astron Solutions

JANUARY 3, 2023

Your compensation strategy affects how well your organization is able to recruit and retain top talent, but your strategy doesn’t play out in a vacuum. Keeping a pulse on these trends can help you fine-tune your own strategy in the larger context of what is going on in the economy.

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HR Lineup

AUGUST 16, 2024

By understanding how your company’s compensation compares to the market, you can make informed decisions about salary increases, bonuses, and other financial commitments. Informing Compensation Strategy Salary benchmarking provides valuable insights that inform your overall compensation strategy.

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