In today’s whiplash economic climate, short- and long-term strategic plans for many businesses have been disrupted as executives shift priorities. No doubt, the inconstancy we are seeing in market dynamics will challenge executive decision-making in the months ahead. Despite these risks — or perhaps because of them — now is the time to reassess your […]
Chances are when companies large and small developed their salesforce incentive plans for 2020, in no way did they envision the unprecedented challenges to come with the global COVID-19 pandemic. In the current climate, salespeople — many who rely on variable pay programs tied to once more attainable business goals — may be filled with […]
Sometimes great advice comes from our peers and respected colleagues. This is why networking, panel discussions and webinars are such powerful business education tools. With that in mind, this issue of Compensation Alert shares expert insights from a diverse group of human resource (HR), management consulting, compensation and employee retention leaders. We asked them for […]
Identifying the right talent for your organization’s long-term success is a business imperative. To tap into this talent pool, many companies invest in High Potential Employee (HIPO) compensation programs to develop and retain their most promising future leaders. Researchers from MIT and Harvard have found that companies can consistently identify 3-5% of their workforce as […]
As we begin a new decade, the challenges facing businesses, executive leadership and HR professionals are growing. From societal changes to digital transformation, the trends shaping organizations have HR responsibilities evolving. These issues require fresh ideas and perspectives. With that in mind, Compensation Alert will periodically feature guest articles from thought leaders in their fields. […]
From Wall Street to Main Street, the issue of pay equity and demands for a fair living wage are making headlines across the country. Despite the growing furor, the idea that employees performing substantially equal work should be paid equally is not new. The Pay Equity Act was passed in 1963, followed by the Civil […]
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 […]
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 […]
Pay equity is a topic that isn’t going away. Rather, the spotlight is only getting brighter. This makes understanding possible pay gaps between the men and women in your workplace and adopting proactive approaches to remedy pay inequities more important than ever. For instance, according to the American Association of University Women, 42 states as […]
March 2019 In our November Compensation Alert, we argued that compensation transparency leads to greater employee engagement. When done correctly—with a well-defined plan and communications approach—compensation transparency becomes a powerful tool for attracting and retaining top talent. Although there is widespread agreement on the benefits of pay transparency in the workplace, what is not always […]