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

Analytics in HR

This article unpacks 93 HR terms, including a usage example for each. HR term example: “Broadbanding offers flexibility in employee compensation and encourages people to develop new skills to move higher within the pay range.” HR term example: “Compassionate leave is not the same as bereavement leave.

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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A Guide to Compensation Analysis

Analytics in HR

Although compensation analysis can be a complex process, it is a necessary tool to ensure fair workplace practices and contribute to your employee engagement strategy. For example, Salesforce found that their engineer salaries were comparable to engineers at Microsoft. It can account for up to 70% of the business cost.

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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. For example, you could use group compa ratio and other data to compare salaries in job groups to other organizations to evaluate external competitiveness.

COMPAS 111
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Don’t Forget Pay Equity During Merit Increase Season

Trusaic

For example, if merit increases are heavily influenced by performance reviews, this process could yield inequitable outcomes if performance reviews are biased. And this is before accounting for new hires that are brought in throughout the year. performance, compa-ratio, range penetration). Evaluate WIFs. promotions).

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5 Ways to Promote More Gender Equity in the Workplace

Visier

For instance, in the current example of Google, where the DoL is suing Google for details related to Google’s compensation data , the devil is in the details: Google may be defining — and therefore measuring — “equal pay for equal work” differently than the Department of Labor. So could flexible working time arrangements.

COMPAS 174
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What Is Salary Range Penetration? Definition, Use, and Examples

Analytics in HR

Let’s have a closer look at this metric and find out how HR can enable managers to use salary range penetration in their hiring, salary raise, and promotion decisions. It gives you very similar information to the compa ratio metric. This compensation metric is a valuable tool for comparing pay and across the organization.

COMPAS 98