What Does It Mean to be ‘Competitive’ with Employee Pay?
Many jobs today—and perhaps some your company has posted—list the pay as “competitive.” But what does that mean, exactly?
Many jobs today—and perhaps some your company has posted—list the pay as “competitive.” But what does that mean, exactly?
Do you use pay grades? If you’re just starting to implement such a system, you may be confused about where to even begin.
Many jobs today – and perhaps some your company has posted – list the pay as "competitive." But what does that mean?
Pay surveys are an important tool for developing and maintaining pay plans that fairly reward employees without breaking the bank. But where should the information come from? Should it be gathered by someone in-house? Or paid for from a consultant? What are the options?
Pay surveys are an important tool for developing and maintaining pay plans that fairly reward employees without breaking the bank. But where should the information come from? Should it be gathered by someone in-house? Or paid for from a consultant? What are the options?
It’s challenging to reward tech workers, says consultant David Wudyka, but you have to find a way to do it or you’ll lose them. Wudyka is the founder and managing principal of Westminster Associates, a Massachusetts-based human resource and compensation firm that specializes in pay, performance, and productivity issues. His tips came during a recent […]
For many employers, he says, perks and benefits—from healthcare to club membership to financial advising to concierge service— offer the greatest room for growth and the most flexibility for use as retention tools in 2012. The primary reason? They’re much more cost effective than straight-up pay raises, Wudyka says. Wudyka is the founder and managing […]
In a BLR webinar titled “Smart Compensation Strategies for Small Employers: How to Maximize Your Budget and Reduce Legal Risks,” David J. Wudyka outlined some tips on implementing effective incentive plans. Why Implement an Incentive Plan? Incentive plans can be an effective part of a company’s compensation strategy. However, it is important to analyze whether […]
This will help you understand the key elements that every good executive compensation program includes, and ensure you’re knowledgeable about the broad strategies and concepts involved with designing (or re-designing) and administering a successful executive compensation program. In a BLR webinar titled “Executive Compensation: How to Design an Attractive and Cost-Effective Plan for Your Organization,” […]
What’s Different About “Small Business”? When it comes to running compensation, small business have several challenges, says Wudyka, who is managing principal of Westminster Associates in Wrentham, Massachusetts. His tips came during a recent webinar sponsored by BLR. Small businesses, he says: Need “flexibility.” Small businesses need flexibility in anything they do when it comes […]