Practical HR Tips, News & Advice. Updated Daily.
Yesterday, we started to look at some of Payscale’s compensation recommendations for workers at all stages of their careers, taken from their report Compensation Challenges for a Multi-Generational Workforce. Today, the rest of the list.
How can you know if your comp program is meeting organization goals? You have to maintain metrics, says consultant Terry Pasteris, CCP, GRP. But there are metrics, and then there are metrics. Why Are Compensation Metrics Important? Pasteris, who is president of TLMP Consulting Group, offered her tips at a recent BLR®-sponsored webinar. She says […]
The three stats are released by the Bureau of Labor Statistics (BLS), a branch of the U.S. Department of Labor (www.bls.gov). The bonus metric is released by The Conference Board, a private, nonprofit research organization. Average Hourly Earnings Payroll data. Each month, the BLS collects payroll data from records reported on a voluntary basis to […]
Cost-of-Living Index Each month, the BLS collects data on prices of a “market basket” of food, clothing, shelter, fuel, prescriptions, transportation fares, medical fees, and other goods and services that people buy for day-to-day living. The BLS measures changes in these costs and reports them in the form of the CPI. The CPI, as defined […]
What Is Employee Engagement? “A heightened emotional and intellectual connection that an employee has for his/her job, organization, manager, or coworkers that, in turn, influences him/her to apply additional discretionary effort to his/her work.” —The Conference Board Branham, who is founder and principal of Keeping the People, Inc., offered his expertise at WorldatWork’s 2013 Total […]
Branham, who is founder and principal of Keeping the People, Inc., offered his expertise at WorldatWork’s 2013 Total Rewards Conference and Exhibition held recently in Philadelphia. Driver #1: Caring and Committed Senior Leaders Branham points to the following differences between low-scoring and high-scoring employers on engagement: Low-Scoring Employers: High-Scoring Employers: Isolated and self-interested management Servant […]
Pat Shiu, Director of the Office of Federal Contract Compliance Programs, was joined for the chat by Latifa Lyles, Acting Director of the Women’s Bureau (WB), and Jennifer Hunt, chief economist at the Department of Labor (DOL). [Go here for yesterday’s questions and answers] Question from Annalyn Kurtz: In what occupations is the pay gap […]
Latifa Lyles, Acting Director of the Women’s Bureau (WB), noted that today, full-time female workers earn on average only 81 percent of what their male counterparts earn. For African-American females and Latinas, the wage ratio is substantially lower: 68 cents and 59 cents, respectively. But the real cost of the pay gap is more than […]
[Go here for #1 to #3] #4: Competitive Reference Points Describe the comparator group(s) for your rewards package Determine industry/geographic competitors For signature programs, what are the benchmarks #5: Competitive Positioning Describe your desired position vs. the market. If your position is below market average, be prepared to explain why. Honesty is a positive message, […]
You need something more than platitudes to get and retain the people you want, says Csizmar, who is founder and principal of CMC Compensation Group. What Are We Talking About? When we talk strategy, we’re talking about “a plan, method, or series of maneuvers for obtaining a specific goal or result.” It’s a guideline or […]