Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
Despite the fact that most comp managers are crazy busy, it’s time to add a task to the mix, says Dorf—a thorough compensation program audit. And, yes, in spite of what could be construed as a self-serving suggestion, he wants you to hire someone else to do it. Dorf is managing director of Compensation Resources, […]
People Don’t Understand the Demographics Companies tend to relax about compensation during an economic downturn, but that may be a mistake, says Dorf, who is managing director of Compensation Resources, Inc. in Upper Saddle River, NJ. “I don’t think people understand how demographics fit with this recession,” Dorf says. The number of people who are […]
Metrics for Compensation Programs Compensation costs per dollar of profit Compensation costs per dollar of revenue Analysis of performance and production levels of employees paid in the top 30 percent of their salary range Total compensation costs as a percent of total company operating costs Analysis of compensation levels to the marketplace and key competitors […]
A metric is simply a way to quantify, measure, and track key performance indicators. Metrics can support decisions related to: Compensation programs Hiring and retention Succession planning Employee performance Training Allocation of resources Technology purchases Outsourcing A Business Approach Metrics typically describe the current situation, compare current numbers with previous years’ or with a competitor’s […]
Corporate retirement plans in the United States are much less likely to employ socially responsible investing strategies in their portfolio investments than are public pension plans, according to a new report by global financial services company BNY Mellon. Concerns about ERISA and fiduciary roles, along with “lack of interest” and “performance tradeoff,” were most often […]
The latest annual survey of Fortune 100 companies’ retirement plan types confirms the familiar shift to defined contribution plans by most of the largest U.S. firms. As of 2012, 70 of the Fortune 100 companies offered only DC plans to new, salaried employees. Just 11 still offer a traditional defined benefit pension plan to new […]
When it comes to health reform’s new Summary of Benefits and Coverage, the feds will give some compliance leeway in cases where plan sponsors cannot fit data into the narrow spaces prescribed in the law, a prominent federal official told benefits attorneys in Washington, D.C. Many in the industry say the health reform law was […]
Employee abuse of leave is a problem for 10% and consistent application is an issue for 7%. A lucky 4% have no or very few issues when it comes to managing employee leave. Survey Highlights As expected, paid vacation time, separately or as PTO, is available to over 95% of those responding to our survey, […]
Fellows, founder and president of WorkLife Performance, Inc. divides flex/telecommuting into three “flavors.” She offered her tips at a recent webinar sponsored by BLR and HR Hero. Flavor #1—Flexible Hours This is the opportunity to begin and end each workday at an approved time outside the standard (or “core”) working hours while still completing the […]
One of the advantages to telecommuting that many organizations are finding is that it forces managers to manage by results rather than by presence, says Fellows, founder and president of WorkLife Performance, Inc. Fellows offered her flex/telecommuting tips at a recent webinar sponsored by BLR and HR Hero. Flex Program Evolution Flex started in early […]