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How to Refresh Your Compensation Strategy
Compensation can be complicated. Companies who lack compensation processes often don’t have resources to effectively manage the complexity of compensation initiatives. Planning, creating, and maintaining a compensation strategy requires a mixture of art, science, and a sharp eye for detail. Here are 4 steps to creating a successful compensation strategy.
How To Structure Compensation
2020 has proven that companies can effectively operate with a remote workforce. The shift to work from home (WFH) has left HR leaders with the daunting task of restructuring their compensation strategies. This guide provides an effective compensation strategy to meet the needs of a distributed workforce.
How to Manage Compensation
COVID-19 has turned HR processes on their head and companies are having to adjust quickly. As a result, companies need to revisit compensation programs to prepare for the future by reassessing job levels, reviewing spans of control, and planning for compensation reviews. The 3 steps to managing employee compensation include: job leveling, reviewing span of control, and updating compensation ranges
5 Steps to Job Leveling
Job leveling is a vital foundation for reward and talent management programs. Career paths, compensation, learning and development, performance management, and workforce planning, all stem from a comprehensive job leveling process.Today, companies and startups struggle with job leveling due to lack of resources (i.e., time). With endless online examples of job levels, and conflicting methods companies use to level their jobs, it’s easy to feel overwhelmed.
Shape Employees for Success
Supporting Company Strategy through Employee Development. Some roles will always require mastery and focus in a specialized area. However, realizing the full value of that expertise is dependent on employee exposure to new opportunities for collaboration and learning. Technology’s rapid evolution requires continuous development. Employees need skill diversification and the ability to work cross-functionally to keep up. Otherwise, employee performance and innovation stagnates. Strategic career paths provide a foundation for intentional employee growth.
What HR Wants to Tell Employees
Take the Wheel on Performance. There’s things HR folks want to tell you, but probably never will. Don’t get me wrong, HR is your advocate. They want what is best for you (and the company), but the reality is you have to be your own advocate. If you are waiting for the day your manager calls you in to talk about performance, you’re already behind. Here are five ways you can take the wheel...
Fix Compensation and Retain Top Talent
The war for talent is intense. Compensation and benefits (“total rewards”) is supposed to be a simple formula for building and retaining talent. Without a well-structured plan for compensation reviews, it’s hard for companies to keep up with the ever-evolving landscape. Not only do companies need to be more proactive about paying their employees competitively against the market, they also need to be more vigilant, open and transparent.
Why are we stuck in this black hole of spreadsheets for a process that is so routine? Compensation reviews, for example, are one of the most time-consuming and complex routine responsibilities HR has. It's a process we conduct at least once a year and is a company’s biggest expense. However, in this technical age, most companies are still using spreadsheets for compensation planning and reviews!
How Fair Pay Can Make or Break Your Company
There’s more to a job than the money, right? We all want meaningful work where we can feel like we do good work that really matters. We want to be challenged and valued. But at the end of the day, there’s little that matters more than getting paid. Pay is personal.
Make Compensation Painless
Compensation is your organization’s biggest expense.
Pay your most valuable assets competitively.
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