Incentives

Your Comp Plan Is a Reflection of Your Culture

These days, it seems like more and more companies are thinking about their corporate culture. A good culture is viewed as a solid strategy for driving job satisfaction and – ultimately – attracting and retaining the best and brightest employees in our increasingly competitive talent market. So what does culture have to do…

Jobs Grow by 156K in December; Wages Take Jump

Ending the year much as it began, employers hired a modest 156,000 new workers in December, bringing the total for 2016 to 2.16 million new jobs. In 2015, employers added 2.74 million. While this morning’s jobs estimate from the Labor Department came in lower than the 180,000 analysts in a Bloomberg survey were…

Wages Jump As Jobs Grew Modestly In December

Ending the year much as it began, employers hired a modest 156,000 new workers in December, bringing the total for 2016 to 2.16 million new jobs. In 2015, employers added 2.74 million. While this morning’s jobs estimate from the Labor Department came in lower than the 180,000 analysts in a Bloomberg survey were…

What to Like (and not) About LinkedIn Salary

Earlier this month, LinkedIn introduced LinkedIn Salary for users in the U.S., UK, and Canada (rollout to the rest of the world is expected in 2017). The crowdsourced salary database — which places LinkedIn squarely in Glassdoor’s neighborhood — enables Premium members to access compensation information without sharing their own data, while free…

Budgeting Comp For a Blended Workforce

One of the key missions of a CHRO (or those who want to become CHROs) is to create a compensation plan. This has become increasingly complicated and dependent on other departments (like procurement) as the workforce has drifted to a more contingent/permanent blend. With 51% of employers saying their need for contingent workers…

Do You Know What A Bonus Is?

I’ve had an important lesson reinforced for me. I’m reminded again, via many conversations with employees and managers, of the wide range of definitions people hold for some very basic compensation terms. Think there is some level of agreement on what terms like “bonus”, “incentive” and “pay for performance” mean? Well, think again….

How to Decide Comp In A Continuous Feedback Workplace

Now that your company has started giving more frequent feedback, you may be wondering how this new system will impact compensation and promotion decisions. You may be inclined to directly use the information collected, as you did with your annual performance reviews. However, this could have negative consequences for your new feedback culture….

You’ll Be Better Off Talking to Them About Pay

It’s time to bring compensation into the modern era. Companies are successful when they make their organization a place where the best people want to work. As a result, HR leaders need to develop compensation programs that embrace this idea. Today, we find ourselves in an incredibly tight talent market. Unemployment is just…

What You Can Do About Shrinking Take Home Pay

Big companies. Small companies. Private. Public. For-profit. Nonprofit. Manufacturers. Tech shops. Banks. Hospitals. Retailers. You name it. They all want to do right by their employees. To be a place people want to work. To support work-life balance. To pay a fair, living wage wherever possible. As a provider of employee discount programs,…

How to Link Pay to Performance When You’ve Eliminated Reviews

Performance management is definitely undergoing a midlife crisis; it’s time for it to reinvent itself. For the past few HR and compensation conferences I’ve attended, the question has been heavy in the air: what are you doing about your performance process? Most agree that the processes are slow and cumbersome, out of date, ineffective, broken….

Selling Your Comp Plan the FAB Way

How are great salespeople able to seamlessly turn every one of your concerns into a demonstration of the prowess of their product? Are they really just that convincing or is there some type of method to their success? The best salespeople personalize every discussion. The trick is years of practicing a simple process…

You Can’t Calculate Employer Branding’s ROI if You Omit Its Negative Impacts

Understanding the Top 10 Problems Associated With Having a Strong Employer Brand There are only two long-term strategic recruiting approaches: employer brand building, and talent pipelining. Of the two options, employer brand-building is by far the most powerful. In fact, it was ranked by BCG as No. 4 highest in revenue and profit…

How to Build a High-Performance Sourcing Department – Part 4 Rewarding Performance

Nothing motivates high-performance more than rewarding success. In order for a sourcer to feel truly validated, some type of reward is needed. The renown psychologist David McClelland states, in his Achievement Motivation Theory, that people are more likely to be motivated if there is some type of intrinsic reward. In the perfect world,…