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Imagine you’ve been working at the same employer for the past 8 years. You’ve received a couple of promotions, and now as a supervisor, you’re earning $16.50 per hour, or $34,320 annually before overtime. It’s the most you’ve ever earned! The average pay for the staff who report to you is $13.88 per hour, which […]
Pay compression happens when the pay levels within an organization start to converge, and there’s less and less differentiation for things like years of experience and education levels. This happens far too easily—typically because the pace of raises doesn’t always keep up with the speed of market-level wage increases for new hires.
Seasoned HR pros know that there are times when compensation is anything but simple. However, there are ways to navigate these tricky waters. Here are three such scenarios, with tips for successfully addressing them from Barry L. Brown, SPHR, CCP.
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.