Practical HR Tips, News & Advice. Updated Daily.
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.
Your compensation scorecard can be a powerful aid for developing real pay for performance, reducing entitlement, and, often, gaining management buy-in, says Consultant David Insler.
Unit Performance Differentiation It’s hard to read the numbers in the chart below, but it’s easy to see what the chart is saying. The collection of data on the bottom right is for employees rated “needs improvement.” The middle grouping is for “successful” performers, and the grouping at the right is for “exceptional” performers. The […]
Compensation Scorecards A compensation scorecard is any dissemination of aggregate compensation information beyond the HR organization. There are several types of scorecards, says Insler, who is the senior vice president at Sibson Consulting and leader of Sibson’s Western Region. His tips came during a recent BLR-sponsored webinar. Basic compensation information (e.g., average merit increase) Comparative […]
Scorecards are powerful aids for improving pay for performance, reducing entitlement, and, often, increasing employee acceptance of your pay program, says Consultant David Insler. Compensation Scorecards A compensation scorecard is any dissemination of aggregate compensation information beyond the HR organization. There are several types of scorecards, says Insler, who is the senior vice president at […]