Tag: Compensation

Understanding the FARM Components of Compensation

Have you heard of the acronym FARM as it relates to compensation? I first heard this term from a BLR® webinar run by Paul Dorf, the Managing Director of Compensation Resources, Inc. (CRI). In that webinar, Dorf noted that a compensation strategy has to incorporate all of the objectives of compensation: to direct what you’d […]

compensation

Shift Your Perspective on Compensation

It’s no secret that recruiting is tough these days. And a big issue for many organizations is matching the hefty salaries larger companies in their industry may offer. But there is good news: Offering a flexible total rewards package is easier than you think—it requires some creativity and a shift in perspective.

performers

What Do Workers Really Want? New Survey Explains

A high-performing workforce is essential for any business to be successful. And while most companies strive to keep employees engaged and productive, it’s difficult to know which workplace factors will make a positive and sustainable impact. In order to attract candidates and motivate current employees, companies first need to know: What do workers want?

transparency

Just How Transparent Should Pay Transparency Be?

A recent study by Mercer titled “2019 Global Talent Trends Study” found a large gap between employees’ and HR’s understanding of how many employees would leave for better pay. The study raises important questions about pay transparency.

Northeast Employers Pay the Most for Their Workers

A recent report from the Bureau of Labor Statistics (BLS) examined average hourly compensation rates from March 2019 for private industry employers among the four regions of the United States. The findings show that the Northeast pays the most for its workers. Within the Northeast, New England had the highest costs and the second highest […]

pay

Types of Bonuses You May Not Be Utilizing

Employee bonuses are often used as tools for motivation and retention. In some cases, they’re used as a means to keep base pay stable while still giving employees recognition. When salaries are increasing but salary budgets are not keeping pace, bonuses can be a way to offer recognition without changing the year-to-year obligations if circumstances […]