Tag: Compensation

Do You Encourage Employees to Use Up Vacation Time?

While it is not legally mandated for companies in the United States to provide vacation time for employees, many organizations still choose to do so. Yet, the statistics seem to show that U.S. employees rarely take all of the vacation time employers have promised, despite the fact that the average number of days provided is […]

overtime

Prorating Nonexempt Employees’ Salaries: Tips for Employers

Many exempt employees are salaried, and many nonexempt employees are hourly. Sometimes, however, an employer may have salaried nonexempt employees. This article explains whether an employer may prorate the salary of a salaried nonexempt employee who works less than 40 hours in a workweek under the federal Fair Labor Standards Act (FLSA).

New Survey Uncovers the Key to Retaining Top Talent

Does your organization suffer from high turnover? Are you constantly looking for ways to retain talent? A new survey, conducted by Paychex, may offer more insight into ways employers can keep their current workforce happy, engaged, and most importantly—keep them around! The Paychex survey report, “Employee Retention: What Makes Employees Stay or Leave,” focuses on […]

retirement

What’s Fair is Fair: Global Compensation and the Need for Parity

by Magali Delafosse, group VP of HR, Crown Worldwide Group In today’s global economy, sending talented employees abroad has not only become a growing trend, but a competitive necessity. It’s projected that between now and 2020, annual international assignments will increase by 50%—having already increased by 25% over the last 10 years. But overseas assignments […]

Surveys Reveal Less than Half of Employers Have a Formal Process for Pay Equity

Just over half of U.S. employees believe they are being paid fairly compared with workers who hold similar jobs either at their own or other companies, according to the 2016 Global Workforce Study by Willis Towers Watson, a leading global advisory, broking, and solutions company. At the same time, a companion survey of U.S. employers […]

Managing Incentive Compensation Plan Changes: 5 Steps for Success

by John Ristuccia, vice president, Professional Services, Optymyze An incentive compensation plan, in which salespeople are compensated based on their ability to meet established performance goals, is key to building an engaged sales force aligned with the overall goals of the organization. Done well, these plans are highly effective, in terms of driving positive selling […]

commission

How Executive Compensation is Different from Other Compensation

When setting employee pay, there are a lot of things to consider. Perhaps nowhere is this more evident than with executive-level pay considerations. Executive compensation differs quite a lot from other forms of compensation, and the thought process that goes into setting it must differ accordingly. Executive-level employees, just like other employees, are motivated in […]

What Is Pay Compression?

Pay compression is the situation in which an organization has negligible differences in pay between people who have differing skill sets and/or experience levels. It often happens when current employee pay raises don’t keep up with increases in the market pay rate—resulting in a situation in which new hires are hired in at levels similar […]