Practical HR Tips, News & Advice. Updated Daily.
Barry L. Brown, SPHR, CCP, of Effective Resources, Inc., understands that time and budgets are both at a premium—but that your compensation plan is probably still in need of some TLC. Yesterday, we got some of Brown’s tips for a DIY compensation makeover. Today, his thoughts on remedying a common but serious comp problem: wage […]
Working with outdated pay ranges can create turnover, pay equity issues, low morale, and legal challenges. Also, granting merit increases without an accurate budget or distribution methodology has the potential to damage your professional credibility. Is calling in a compensation consultant the only solution?
Yesterday, we talked about job prospects for the most recent crop of college grads, and things are looking good in terms of both starting salaries and number of jobs available. But what about the outlook for their younger brothers and sisters looking to earn some money at summer jobs?
We’re now well into the swing of college graduation season, and the newest crop of alums has even more to celebrate than many of their predecessors—including ample job prospects and higher-than-usual starting salaries.
Yesterday, we got some insights from Chuck Csizmar of CMC Compensation Group about the importance of having a formal compensation strategy document at your organization. Today, we’ll look at the rest of his “Top 8” list of design considerations, plus some final strategies for success.
You may already have a mission statement in place at your organization. But do you have a formal compensation strategy document—a comp-specific mission statement, in other words? You need one, says Chuck Csizmar of CMC Compensation Group. Read on to find out why.
Increases. Budgets. Bonuses. Variable Pay. Compensation is never a simple issue, but it’s an important cornerstone of employee engagement and satisfaction, as well as talent acquisition. What’s happening with pay budgets and variable pay in the real world? What are your competitors up to? Help us find out!
In yesterday’s Advisor, we discussed the issue of pay transparency; today, how raises are now becoming very much in demand (whether or not your employees are comparing notes on salary)—and what it means for employers.
Today, in an excerpt from Maine Employment Law Letter, Attorney Connor Beatty of Brann & Isaacson, LLP, discusses the real-life pros and cons of making employees’ salary information public knowledge.
I recently wrote that we shouldn’t overlook the contributions the younger generation can make. In business, we often assume that experience equates with success and therefore conclude it’s unlikely that a 20-something can make a significant contribution. I think that’s complete hogwash, but so is assuming people can’t have a major career breakthrough in the […]