Entries by Neil Lappley

2020 Salary Budget Increases

Despite uncertainty about where the U.S. economy is heading, recent salary surveys from compensation consulting firms reveal that salaries are expected to either increase slightly or hold steady versus 2019 salaries. In this issue of Compensation Alert, we look at how companies are planning to deal with 2020 salary budgets to remain competitive and retain […]

Managerial Training for Communicating Compensation

How well do your employees know your company’s compensation strategy? Chances are that without a clear understanding of your organization’s pay program, your employees will not appreciate their value to the company. In a 2018 Conference Board survey, it was reported that only 43% of employees were satisfied with their wages. Worse still, a low […]

[Comp Alert September 2017] How to Communicate a Total Rewards Package

In today’s competitive employee marketplace, effective communication of your total rewards package can help be the determining factor in securing high performing employees. A total rewards program is made up of several elements including compensation, benefits, recognition, performance management, talent development, and work-life effectiveness. There is much to consider when developing and understanding complicated rewards […]

[August 2017 Comp Alert] Projected 2018 Salary Increases Survey Results

According to the WorldatWork’s annual Salary Budget Survey, survey participants are planning a slight rise for salary increase budgets to 3.1 percent for 2018, up from 3.0 percent this year. With a tight job market, low unemployment, inflation seemingly under control, and reported employer financial gains, a larger growth in salaries might be expected. There […]

[July 2017 Comp Alert] Variable Pay: What’s Ahead

Variable pay has evolved greatly over the past five to 10 years, and is expected to change more in the future. However, variable pay programs and changes to them have not occurred without challenges. Prior to the 1970s, the concept of the annual bonus was primarily reserved for the executive level and based on discretionary […]

[June 2017 Comp Alert] Compensation Strategy: How to Develop

Compensation Strategy: How to Develop Last month’s Compensation Alert discussed the importance of having a compensation strategy. In doing so, we posed three questions that organizations need to know: Are your compensation programs competitive? To answer this question there is a need to answer the question of: Are compensation programs doing what you need them […]

[May 2017 Comp Alert] Compensation Strategy: Why It’s Important

As I meet with executives and senior managers, they increasingly want to discuss the returns that their organization is receiving from compensation. They are looking less at employee compensation as a cost and more as an investment. They pose the  question: What is our return on investment from compensation?  The first step in deciding the […]

[April 2017 Comp Alert] Why Pay Equity Matters

Pay equity is an important consideration for employers today. Unfortunately, it’s not something that happens easily. In fact in a recent study we came across, just over a third of respondents had in place a process to address pay equity issues. Addressing this important concern requires a well-considered process to ensure that individuals doing the […]

[March 2017 Comp Alert] Cost of Not Paying to Market

Low unemployment and a looming labor shortage means employers have to work harder to attract and retain top talent. Across gender and education levels, salary and benefits are the most important factors when job seekers are choosing an employer, according to research conducted by Randstad North America.  It is becoming a candidate-driven market again, and […]

[FEB 2017 COMP ALERT] Should Performance Reviews be Scrapped or Made Better

The face of performance management is changing with organizations such as Microsoft, Deloitte, Accenture and General Electric streamlining their performance reviews, or even scrapping them. This trend comes from a growing perception that annual performance reviews might not be the best way to manage and improve performance in the workforce.  Perhaps the question isn’t whether […]