Practical HR Tips, News & Advice. Updated Daily.
Schum, a Senior Consultant at Compensation Resources, Inc. in Upper Saddle River, NJ offered his tips for sales compensation design at a recent webinar sponsored by BLR/HRhero. Sales Compensation Model Schum offers an example of the true cost of a salesperson and then charts out how that might translate into a bonus program. Cost of […]
Schum, a Senior Consultant at Compensation Resources, Inc. in Upper Saddle River, NJ offered his tips for sales compensation design at a recent webinar sponsored by BLR/HRhero. For example, Schum says, here’s how one organization might split the sales compensation W-2 pie: Sample Sales Compensation Mix Tier Scope of Accountability Base Salary (Fixed) Bonus (Variable) […]
Wudyka is managing principal of Westminster Associates in Wrentham, MA. His tips came at a recent BLR/HRhero-sponsored webinar. Perquisites Perquisites are benefits unique to executives, says Wudyka. As some may be taxable, always clarify that issue before finalizing your plan. Some examples of perquisites: Country club memberships Cars Financial or legal planning Computers Phones Assistants […]
Here are three more of Erdle’s six compensation mistakes. (Erdle is founder of Erdle Compensation Consulting, www.erdleconsulting.net.) [Go here for mistakes 1, 2, and 3] 4. Rewarding Hard Work Typically, you’re not trying to reward hard work, Erdle says; you’re trying to reward an outcome. The reason? Employees can work hard and still not get […]
West, principal of Employment Practices Specialists in Pacifica, CA, offered her tips at SHRM’s Employment Law and Legislative Conference, held recently in Washington, DC. Here are West’s tips for avoiding hiring lawsuits: Use application forms Ask about felony convictions READ the completed application Look for and ask about gaps in employment, missing information Check references […]
Green, who is a principal at consultant Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. What Pay-for-Performance Is (And Isn’t) First, says Green, it’s important to clarify what is pay for performance and what isn’t. Pay for performance, she says is: Any type of compensation or reward that is provided only […]
Segal, a partner with Duane Morris law firm in Philadelphia, shared his expertise at SHRM’s Employment Law and Legislative Conference, held recently in Washington, DC. [Go here for tips 1 through 13] 14. Focus on Risk Selection, Not Risk Avoidance In 2012, there’s no avoiding risk, says Segal. For example, say there’s a hiring decision […]
But surveys are only part of the compensation puzzle. I also needed practical tools to manage the compensation program. I juggled spreadsheets and text documents to cobble together a system for keeping up with compensation but it was always a struggle. If you’re in the same boat I was—and I suspect that’s the case or […]
Parikh, who is director of product marketing at compensation software development company Callidus (www.calliduscloud.com), recently spoke to BLR on pay for performance. BLR: How well do companies really link pay with performance? Parikh: Companies basically end up spending about 8-10% of their gross revenue on variable compensation. That could be a very large amount of […]
Big companies use complex quantitative job evaluation systems, says Wudyka, who is managing principal of Westminster Associates in Wrentham, Massachusetts. However, smaller employers don’t need point count systems; they can use paired comparison. Wudyka’s tips came during a recent webinar sponsored by BLR. Paired Comparison One very efficient, effective, and low-cost method of ranking jobs […]