Compensation Management Software

/Compensation Management Software

Leveraging Compensation Strategies for a Competitive Advantage

By |August 31st, 2016|Compensation Management Software, Compensation Software|

Being a competitive force in compensation when it comes to attracting skilled employees isn’t just about offering higher salaries and bonuses to all employees. Paying the highest wages across the board does not inherently make you more competitive as an organization, and is overall a simple approach, rather than a deliberate strategy. In fact, an [...]

Creating a Successful Recognition Program

By |July 26th, 2016|Compensation Management Software, Compensation Software|

Recognition programs used by organizations to reward and motivate employees can sound like they’re offering the best of everything. It can be difficult, however, to pinpoint whether or not these programs are actually accomplishing what they set out to. Is there a significant ROI, or are they really only for show? A Culture of Recognition [...]

How to Acknowledge Market Data without Succumbing To It

By |June 12th, 2016|Compensation Management Software, Compensation Software|

Being competitive with the market is an important aspect of developing market-based compensation strategies. However, market-based does not mean market-mirrored. Sourcing from information in adjacent industries and companies does not mean you must necessarily follow those numbers to the letter, rather that this information is providing you with baseline research from which you will draw [...]

Designing a Compensation Plan to Drive Business Goals

By |May 22nd, 2016|Compensation Management Software, Compensation Software|

Compensation plans are not simply a way of organizing paychecks and maximizing talent acquisition. In addition to its many other benefits, a thorough, intentional compensation strategy can also serve to drive the central goals and values of your business. Cascading Achievement In the life of a business, overarching goals are set at a high level, [...]

Achieving Fairness in Pay: Making the Most of Your Compensation Strategy

By |May 12th, 2016|Compensation Management Software, Compensation Software, Market Pricing System|

Everyone wants to make more money, receive better benefits, and work in a great environment. At the core, however, is there something even simpler and straightforward motivating employees to focus on compensation? From entry-level on up, all employees wants their pay to be fair (not equal, necessarily, but fair). Simple as that may seem, fair [...]

Examining Two Key Compensation Metrics

By |April 22nd, 2016|Compensation Management Software, Compensation Software|

When you use Google services, you trust us with your information. This Privacy Policy is meant to help you understand what data we collect, why we collect it, and what we do with it. This is important; we hope you will take time to read it carefully. And remember, you can find controls to manage [...]

6 Common Resources for Market Pricing Practices and Which is Best

By |March 21st, 2016|Compensation Management Software, Compensation Software|

Know the trends in pay rates and the changes in surrounding industry norms, and your business can be poised to make the most effective choices. In order to determine how to strategically price positions within your own company, you must know the decisions that other companies are making, including how they pay their employees. Most [...]

3 Advanced Strategies When Planning For a Strong Future Compensation Strategy

By |February 16th, 2016|Compensation Management Software|

As your company succeeds in developing effective pay levels with the use of a high-end compensation software, it will soon be time to look ahead, for ways to continue to grow and advance to an even stronger compensation strategy in the future. Technology has improved to enable more in-depth analysis and control over pay and [...]

Best Practices for Involving Employees in New Compensation Design

By |January 21st, 2016|Compensation Management Software, Compensation Software|

When developing a compensation program, there are many complex ideas that must be conveyed as effectively as possible. Involving employees through representatives of different departments and levels of the business can help ensure that the material is well understood and well-received by smaller groups first, particularly when working with a large employee population. Establish Core [...]

Identifying Challenges in Compensation Analytics to Maintain Data Quality

By |December 21st, 2015|Compensation Management Software, Compensation Software|

Experts estimate that poor data quality costs companies an average of $8 million per year, in addition to other non-monetary consequences. And even when purchasing the highest quality surveys available, errors in computing or analysis can result in subpar data that can hurt your pay structure creation. Relying on Crunch Data Current standards for acquiring [...]