Practical HR Tips, News & Advice. Updated Daily.
Yesterday, BLR’s Senior Compensation Editor Sharon McKnight, CCP, SPHR, took us through the process of finding compensation data for those slippery jobs that are tough to classify. Today: What to do if you’ve gone through all those steps and still find yourself coming up empty.
In strategizing salary budgets, employers often have to decide whether they want to lead, lag, or lead/lag the market rate. What factors play into aging market data to suit your employment needs? And when is it time to retire your current market data?
Trying to find market data for some jobs may seem a little like searching for a needle in a haystack—tedious, time-consuming, and marginally successful. Often, the problem isn’t that no data are available but in how we’re look for them, says BLR’s Senior Compensation Editor Sharon McKnight, CCP, SPHR.
The Securities and Exchange Commission (SEC) recently proposed rules that would require companies to disclose the relationship between executive compensation and the company’s financial performance. Today and tomorrow, we’ll look at what these rules mean for employers.
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Working with outdated pay ranges can create turnover, pay equity issues, low morale, and legal challenges.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?
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.
Yesterday, Laraine McKinnon, defined contribution director at investment management company BlackRock, provided some insights on legacy 401(k) plans that may have fallen out of date. Today, her thoughts on forecasting outcomes by groups.