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Compensation Related Topics
A Few Thoughts on Expectations Around Pay
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SEPTEMBER 7, 2016
If organizations are moving away from annual performance conversations and towards continuous feedback ( and it’s working ) then why not have compensation/incentive design reflect this new approach to feedback and performance management? companies use a discretionary timescale for increasing base pay, according to this year’s compensation survey by Mercer LLC. percent of U.S.
Benefits That Employees Value More than Pay Increases
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DECEMBER 31, 2015
Benefits Compensation HR Strategy 401k hr human resourcesThanks to HLBR for sharing this Glassdoor survey highlighting the perks that employees most value. The benefits valued more than pay raises, in order are: •Healthcare insurance (e.g., medical, dental): 40%. Vacation/Paid time off: 37%. Performance bonus: 35%. Paid sick days: 32%. 401(k) plan, retirement plan and/or pension: 31%.
A Few Thoughts About Pay Equality and Transparency
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JUNE 10, 2015
<www.ifeanyiuche.com> …So a few days ago I read an intriguing piece on Forbes from compensation 1. Thanks to Tony Bergmann-Porter for providing the original linke in his Compensation Cafe piece here. Compensation hr human resourcesSME Edward Lawler. Okay… fair points. We had a female candidate interview and get an offer. She wanted $47K. …Right?
How Cultural Norms Around Work and Family Life are Impacting the Gender Pay Gap
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AUGUST 23, 2016
Happy Tuesday all. …So I recently read a great article by Ben Casselman at FiveThirtyEight here that talks about why women are no longer making material progress towards narrowing the pay gap between men and women. From the piece: Men make up a bit more than half the full-time workforce, but they account for more than 70 percent of those working 50 hours a week or more. Best, Rory.
The Performance Management Storm: Four Macro-Trends Driving the Change
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have evolved, the basic tenet of “rate and compensate”. development and compensation in a. 1Why Your Company Will Need to. Rethink Performance Management eGuide Part 1: The Argument. for Change 2 3About this Guide Organizations are increasingly. moving from traditional performance. management systems (organized as. an annual review process) to newer. performance development systems.
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Implementing Pay for Performance at All Levels of an Organization
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JUNE 12, 2015
Benefits Compensation executive compensation hr human resources<jayshreestocks.com> Towers Watson Executives Donald Delves and Lori Wisper discuss what pay for performance means for executives vs. employees and why the differences in pay matter. That all said, check out the video below and as always please share your thoughts in the comments section. Happy Friday, Rory.
Why It’s So Hard For You to Get That Raise You Want
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JUNE 9, 2015
Compensation compensation hr human resources payroll<optisins.com> One of the most common questions I get from folks outside of the HR profession is “Why is it so hard to get salary increases approved?” And that raise also compounds on itself over time as you get future increases. Learn more here if interested. Best, Rory.
Let’s Talk About the Trend Away From Base Pay Increases Towards Short Term Rewards
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JUNE 2, 2015
…So this morning I read a great piece ( here ) from the NY Times highlighting a sea change in the way compensation is being managed in the U.S. …Which is really just a long way of saying that compensation functions everywhere have got some work to do where it concerns designing programs that attract, incentivize, reward, and retain their talent. So what does it all mean?
What’s the Appropriate Comp Structure For Your Company’s Life Cycle Stage?
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MAY 13, 2015
<ungerboeck.com> …So this morning I read a great piece from Jacque Vilet over at Compensation Cafe highlighting the way compensation plans must evolve based on the life stage of the company. salary/bonus/equity) and market competitiveness changes based on if they’re in a start-up, growth, maturity, or decline phase, explaining the causal reasons behind each stage and the steps a prudent compensation professional takes to adjust their structures accordingly. Compensation hr human resourcesVilet focused on how an organization’s pay mix (i.e.
The Performance Management Storm: Four Macro-Trends Driving the Change
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have evolved, the basic tenet of “rate and compensate”. development and compensation in a. 1Why Your Company Will Need to. Rethink Performance Management eGuide Part 1: The Argument. for Change 2 3About this Guide Organizations are increasingly. moving from traditional performance. management systems (organized as. an annual review process) to newer. performance development systems.
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Managing Internal Equity While Appropriately Rewarding Top Performers
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MAY 26, 2015
Much of this stuff has been visited in many other pieces across the web over the years, but the following quote on the Company’s approach to compensation was new to me: Once someone actually gets into Google, Bock said his department also looks at compensation differently. Compensation hr human resourcesAnd no one looks at that and says it’s unfair. Best, Rory.
I’ve Had Six Great Bosses in Four Years – Here’s What I’ve Learned From Each One (Part 2)
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JULY 23, 2015
also played a much more active role in compensation decisions at all levels, and was responsible for dozens of different processes and workstreams related to HR systems, human capital data management, benefits administration and roll-out etc. Part one covered my first three bosses – today I want to talk about the last three: Manager #4: . Manager #5: . Best, Rory.
Infographic Thursday: What Benefits Make for a Complete Compensation Package?
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JUNE 25, 2015
Benefits Compensation hr human resourcesCheck out this great infographic from HR, payroll, and benefits platform provider Namely. As always, if you like this infographic then follow its creator on Twitter here. Happy Thursday, Rory.
Examining the Impact of Ratingless Reviews and Year-Round Feedback on Employee Performance
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AUGUST 31, 2016
Compensation HR Strategy Performance Management Talent Management feedback hr human resources merit increase merit pay<datascience.berkeley.edu> …Okay, so much has been written in the news about companies doing away with performance ratings. GE is probably the most famous company to make this change. Some of it has even been published online. And it’s working.
Leaving performance reviews behind: Where to start [Guide]
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prioritizing them over compensation and. 1Making Dynamic Performance. Development a Reality eGuide 3Introduction Does your organization want to adopt. more dynamic approach to managing. performance and developing employees? We see a stampede of organizations. moving in this direction. At the same. time, we also see that, all too often, managers in such organizations are simply. guidance.”.
Infographic Thursday: Compensation and Salary Trends
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OCTOBER 1, 2015
Infographic Thursday compensation hr human resourcesCheck out this great infographic from Adecco highlighting some of the biggest salary trends from 2015. Looking at popular jobs in STEM, marketing, and industrial fields, I found it extremely informative. Whether Whether you’re struggling with hiring top talent or just curious, check out today’s infographic below.
California Seeks to Enact Law Prohibiting Employers from Seeking Salary Histories. A Few Thoughts…
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SEPTEMBER 21, 2015
compensation and benefits). And – since most job applicants are afraid to push back when asked to disclose prior salary – those employees that start their careers under market compensation-wise remain perpetually under market as employers continue to lowball them. employers seldom disclose the range for a position). …I have mixed thoughts on this. Best, Rory.
FLSA Proposed Changes: What You Need to Know
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JULY 3, 2015
Compensation hr human resources<manpowergroupblogs.us> …So this has been all over the news lately, but I think WorldatWork is the first group to summarize the impact of the proposed regulations on businesses so succinctly.
Using Deferred Compensation to Pay for Performance
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JULY 22, 2015
managers today 1 , so instead I wanted to share this great WorldatWork video focusing on the benefits and drawbacks of using deferred compensation to pay for performance. Compensation hr human resources<abstracta.us> …So I don’t quite have the energy to finish up part II of my article on great 1. The past two days have been all-time exhausting. Best, Rory.
How to Negotiate the Best Possible Salary For Yourself in a New Role
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JUNE 22, 2015
…Instead, let’s talk about compensation – specifically how to negotiate the biggest possible salary in your next job. initially got into HR because I am just a little too fascinated by the subject of compensation , and I’m going through a phase right now where I’m spending an awful lot of time developing competencies around it. Happy Monday, Rory.
I’ve Had Six Great Bosses in Four Years – Here’s What I’ve Learned From Each One (Part 1)
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JULY 21, 2015
As I was in a rotational program, six(ish) months into my career I had the opportunity to transition into a role as a Global Compensation Analyst. It was really good work that stoked a passion for the compensation function within HR that I have to this day. …The Compensation function also doubled as a ‘reports’ function within HR. But honestly? Manager #1: .
Most Expensive Cities For Expatriates
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AUGUST 26, 2015
Compensation COLA cost of living hr human resources mobility<www.businessinsider.com> Check out the below video from Mercer , which highlights the most expensive expatriate cities in the world. Best, Rory.
The After-Tax 401(k) – A Super Saver’s Dream?
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AUGUST 18, 2015
The overwhelming majority of employer plans do not allow after-tax 401(k) contributions – as far as I can tell this is because allowing such contributions would make it harder for an employer to pass its non-discrimination test, which states that the average contributions of highly compensated employees – defined as those earning more than $120k in 2015 – cannot exceed the average contributions of employees making less than this amount by greater than 2%. Thoughts? As always, please share in the comments section below. Best, Rory.
Trends in Employee Recognition 2015
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JUNE 17, 2015
Benefits Compensation compensation hr human resources recognition total rewards<www.csc.com> Rose Stanley, CCP and Practice Leader for World at Work provides highlights from a recent survey highlighting trends in employee recognition programs. Happy Friday, Rory.
The Increased Prevalence of DC Pension Plans is Going to Change the Way We Retire. How to Prepare?
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AUGUST 21, 2015
And to this point, the implications for compensation are immense. <www.forbes.com> …Okay, so this evening I was reading a white paper from Aon Hewitt (you can find it here ) that states the following: One of the key findings from this research is that there appears to be a welcome sense of realism among employees about their retirement prospects. This is heady stuff. workforce!
The Role of Organizational Culture in Employee Engagement
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MAY 15, 2015
Compensation hr human resources<www.forbes.com> …It’s been a while since I shared a World at Work video. This one (focused on the role of organization culture and employee experience on engagement) is fantastic: Happy Friday!
A Few Thoughts on Nonqualified Deferred Compensation Plans
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SEPTEMBER 1, 2015
<www.financialsamurai.com> …So in my (seemingly never-ending) quest to learn everything I can about employer sponsored non-annuity based savings vehicles, I have spent a lot of time reading about nonqualified deferred compensation plans. Because NQDCPs haven’t passed the tests required by the internal revenue code (e.g. Best, Rory.
The Week in HR (10.9.2015)
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OCTOBER 9, 2015
<www.graceville.k12.mn.us> It’s Friday, so as always here are a few articles you should be reading: Laurie Ruettimann has a solid 4-part series up on her site about the core components of a great company culture here. Ergo, whether focusing on building a stronger culture, or just looking to raise the water level around performance, collaboration has to be a table stakes requirement.
The Week in HR
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SEPTEMBER 4, 2015
Bruce Clark has a great piece up on the News and Observer examining compensation and benefits strategies at two employers that have been in the news a lot lately – Netflix and Gravity. <www.dcrainmaker.com> …So back when I used to spend all day Sunday morning reading HR articles and 1. Super clever, I know. But to get there, at some point we need to face adversity.
Sunday Reading: Compensation, Community, and Exit Strategies
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NOVEMBER 16, 2014
Tony Bergmann-Porter , Principal and Owner of Compensation Consulting firm Yale Associates LLC, has a great post up on Compensation Cafe wherein he postulates about the future of total rewards in the U.S. <www.accu-chek.com.my> Sunday reading for 11.16.2014. 1. He has some bold ideas, including a hypothesis that pay in the private sector will flatten over time, resembling the federal government’s GS schedule. The implications for what this would mean as it concerns identifying new ways to recognize and reward top performers are intriguing, to say the least.
A Few Thoughts on the “Hometown Discount” as Part of an Organization’s Comp Strategy
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APRIL 1, 2015
Compensation compensation hr human resources knowledge transfer market pricing salary negotiation <furlongproperties.com> …So yesterday I came across a great article from Tim Sackett wherein – as is often the case – he brought attention to an HR/marketplace best practice that I have always intuitively known exists, but never gave much thought to. And; 2.
A Few Thoughts on Internal Equity
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MAY 1, 2015
<www.dea2020.com> …So today I read a solid piece ( here ) from Compensation Café Founder and Editor Ann Bares. Compensation hr human resourcesWith this fact in mind, several employers are opting towards greater pay transparency and more uniform policies around wages and negotiation – in some cases doing away with the latter entirely. Until Monday, Rory.
A Discussion on Results of the 2015-2016 Salary Budget Survey
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AUGUST 19, 2015
Compensation hr human resources<www.scu.edu> Alison Avalos, CCP, Senior Manager, Research and Certification, WorldatWork, and Kerry Chou, CCP, Senior Practice Leader, WorldatWork, discuss the relatively flat budgets and what they mean to employers and employees: Best, Rory.
Recruitment in the New Talent Marketplace
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JULY 6, 2015
Evolve the existing merit review cycle to compensate top internal talent at a level consistent with what they can find externally (as opposed to spreading increases more or less evenly across the entire workforce). 2. Concerning challenge number 1, as previously noted organizations have got to start thinking about compensation differently. …Or maybe I’m wrong. Let me 1.
A Few Thoughts on Mission Focused Work
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APRIL 21, 2015
Compensation Recruiting compensation Department of Labor DOL hr human resources job descriptions STEM <www.rockwallisd.com> 1. will get to the idea behind my post title in moment. Stick with me, please. To the former point, I high recommend checking out the DOL’s new post ( here ) on the highest paid STEM jobs and the (growing) market for them. Best, Rory.
Video Saturday: Is Your Sales Compensation Plan Making Money?
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NOVEMBER 8, 2014
<www.howtostartablogforfree.com> David Marshall, CEO, PerformanceCentre International, provides advice on maximizing the return on your sales compensation plan including: Looking at a sales plan from a purely financial view, the importance of mindset, setting measures that can be controlled, a methodology for driving pay for performance. Best, Rory. Video Saturday hr human resource
Only One in Five Workers are on Track to Retire at Age 65…
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DECEMBER 30, 2015
In fact, going forward I think that a big part of the solution is redefining the total rewards picture in organizations to place a greater emphasis on retirement savings as a core component of compensation. Don’t But I also don’t want to dismiss the role of the employer here, and believe they may have an even bigger role to play going forward. Best, Rory.
An Overview of Executive Benefits and Perquisites
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JUNE 26, 2015
Sue Holloway, Senior Practice Leader at WorldatWork discusses the differences between benefits for executives and other employees, deferred compensation plans, supplemental executive retirement plans, plan design, and uses of nonmonetary compensation. Benefits Compensation hr human resourcesthey don’t have ERISA protections) if a company becomes insolvent. Many
FLSA: Proposed Changes and How You Can Prepare
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JUNE 1, 2015
Compensation hr human resources<www.replicon.com> …So I’ve been posting a lot about this topic lately, and for good reason. Changes to the exemption threshold could soon great increase human capital costs for employers across the U.S., and employers need to be ready. Check Features Melissa Sharp, Sr. Manager of External Affairs, WorldatWork, and Kerry Chou, CCP, Sr.
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