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

Analytics in HR

HR terms list Compensation & Benefits terms 1. HR term example: “Broadbanding offers flexibility in employee compensation and encourages people to develop new skills to move higher within the pay range.” ” Learn more Compensation and Benefits Digital HR terms 11. ” 2. ” 3. ” 7.

COMPAS 89
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10 vital HR metrics to track for your business

Business Management Daily

Rigolizzo about what HR professionals need to know about this vital tool. Dr. Rigolizzo: Particularly within HR, data analytics is essential and not something HR has traditionally used as a key tool, but the use of data to make decisions is becoming commonplace, and therefore HR data analytics careers are in high demand.

COMPAS 59
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OFCCP Compliance: Proactively Prepare for Compensation Audits

Trusaic

Significant amendments relate to the scope of required employee level compensation data, factors used to determine pay, and documentation that help explain factors and reasoning used to determine compensation. Carry out a pay equity audit and bring your compensation structures up to date now.

COMPAS 130
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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. Over the past few decades, HR and compensation professionals have found many more ways to use it. Don’t base decisions on compa-ratio alone.

COMPAS 111
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Workforce Planners: 4 Steps to Improving Profit Margins for Services

Visier

To further complicate things, when dealing with a multi-year project, the workforce will likely become more expensive within the contract’s lifetime. For professional services firms, keeping a close eye on rising workforce costs is crucial. Time is money and under-estimating workforce costs can seriously hurt profit margins.

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U.S. states are not ‘waiting on Congress’ to regulate AI

HRExecutive

a company providing tools to help HR teams make evidence-based talent decisions. Advertisement - As of September 2023, according to BSA | The Software Alliance , state lawmakers had proposed 440% more AI-related bills last year than in all of 2022. . Pay transparency is Compa’s focus. If you will be there, let me know!

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HR technology in 2024: What to look for

HRExecutive

, I have been pulling together reflections on HR and HR technology in 2023. Advertisement - While exercises like this are interesting and fun, they can also help frame the development of HR and HR technology strategies for the coming year and beyond. . 1 topic in 2024.