Practical HR Tips, News & Advice. Updated Daily.
The basic rule of pay-for-performance? You can’t pay for performance unless you can measure performance performance on a consistent, credible basis, says consultant Paul R. Dorf, Ph.D., APD. Workplace compensation is essentially a supply and demand system, says Dorf, who is managing director of Compensation Resources, Inc. in Upper Saddle River, NJ. Supply has been […]
Essential job elements … exposure to physical hazards … pay grade … the list of what should be in a job description is long. But what should you keep OUT of job descriptions? Here’s a checklist taken from BLR’s popular Job Descriptions Encyclopedia. How many of these “no-no’s” will you find in your job descriptions? […]
It’s time to review those job descriptions again! And as always, the focus is on the essential functions decision. We’ve collected five myths of essential functions to help you with this updating task. So before you start, take a look at our five myths—and then, dive in. The Five Myths of Essential Functions We’ve identified […]
Dorf, who is managing director of Compensation Resources, Inc. in Upper Saddle River, NJ., recommends following the SMART approach in developing goals: Specificity Measurement Attainability Results-oriented Timing Remember, says Dorf, sometimes the pay-for-performance goal is a milestone, not the full completion of a project. For example, he says, he worked with a client that was […]
When considering whether your workers are nonexempt vs. exempt, it’s tempting to classify all salaried employees as exempt employees by default. However, doing so would be a mistake because, while having a salary basis is an essential component of some of the most commonly-applied exemption categories, this is not the sole determining factor. In a […]
Workplace compensation is essentially a supply and demand system, says Dorf, who is managing director of Compensation Resources, Inc. in Upper Saddle River, NJ. Supply has been strong, and that means small or no raises, but that is starting to change. A bunch of studies say maybe 60 percent or more of employees would look […]
Strand, owner of consultancy HR Dynamics Inc., offered his seven steps to successful market pricing at a recent webinar hosted by BLR/HRhero. 1. Identify Positions to Market-Price Ideally you’d like market data on all your positions, says Strand; however, in reality, you will probably obtain data on a sample of your positions, perhaps 30 to […]
Strand, owner of consultancy HR Dynamics Inc., offered his seven steps to successful market pricing at a recent webinar hosted by BLR/HRhero. [Go here for steps 1 to 4] 5. Choose Your Rate Let’s say that in analyzing market data, you come up with a market rate of $61,400 for an Office Manager position, and […]
Oswald, CEO of BLR, offered 3 reasons why employees want to work for bosses in a recent edition of The Oswald Letter. People go to work for a company for many reasons, Oswald continues. Maybe the work is challenging and rewarding or the pay and benefits are too good to pass up. It might be […]
Sales Compensation Strategy Step 1: Define Sales Goals and Objectives In this step, Schum advised, you must begin by defining “what is important for the year – either margins, profits, [or] market share – and then making sure that those specific tactical items will be consistent with the compensation philosophy that the organization has as […]