The phrase “time off” can put a smile on the face of almost anyone with a job. When you place the word “paid” before it, the smile gets broader and the daydreaming begins. There is another word that, when included at the beginning of the phrase, may be the most powerful yet. That word is […]
By Sharon McKnight, CCP, SPHR Finding the middle ground is important for a lot of things, and for a lot of reasons, including salary data. For example, when researching salary data, it’s important to know whether you’re looking at the mean, the mode, or the median. All three are measures of central tendency but they’re […]
By Sharon McKnight, CCP, SPHR 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 is available but how we look for it.
By Sharon McKnight, CCP, SPHR Recognition programs award employees for past behavior rather than drive future behavior and, as a general rule, have no predetermined goals or performance levels that employees are required to achieve. Also, they’re usually budgeted at the organizational level instead of being budgeted by individual departments and focus more on recognizing […]
By Sharon McKnight, CCP, SPHR One of the primary elements of any compensation philosophy is the company’s stance on employee pay relative to the market. Essentially, there are three options: lead, lag, and lead-lag.
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.
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.
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.
“You can see them coming down the hall … the employee armed with survey data that show that he or she is grossly underpaid.” Consultant Barry L. Brown, SPHR, CCP, has a plan for blunting these attacks.
One of the first things that come to mind when figuring out how much to pay someone in an executive role is either conducting or purchasing a market study. However, there are several other things that must be completed first.