Practical HR Tips, News & Advice. Updated Daily.
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 […]
Why Provide Disability Insurance for Employees? Of all the benefits employers routinely provide for employees, disability insurance remains one of the least-discussed options. This is startling, considering the fact that there are millions of Americans who are currently disabled and unable to earn income from employment.
Executive Exemption: Who Qualifies? President Obama made the news recently with a proposal to change the rules on who must be paid overtime. What rule is under consideration here, and what are the implications for employers?
When in doubt about how to set an accurate salary range for a given position, market survey data are crucial. That’s Compensation 101-level stuff. What’s not always so clear, however, is what to do with those data.
Many leaders believe they must have all the answers—that it’s their responsibility to have the answer to every question and the solution to every problem. In my estimation, it’s more important to ask the right questions than it is to always have the answer.