article thumbnail

Why is Compensation Planning a Critical HR Process?

Zenefits

With such a large expense account for employee compensation , a solid compensation strategy is a no-brainer. Proper compensation planning is essential to ensuring you are rewarding the right people for the right input. What are vital considerations in compensation planning? Why is compensation planning critical for HR?

article thumbnail

Key Human Resources (HR) Pillars: Your 101 Guide

AIHR

A department : The HR department manages all HR activities, including recruitment, onboarding, compensation, development, performance management, and employee relations. Human Resources pillars A company’s HR strategy is a roadmap for how companies manage their number one asset, their employees.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

10+ Employee Retention Strategies for 2023 to Keep Your Top Talent

AIHR

Now, more than ever, organizations must do everything in their power to protect their most valuable asset – their employees. Strengthen your employee onboarding Research by Brandon Hall Group found that strong employee onboardin g can boost employee retention by 82%. Benefits also play a crucial role.

Retention 104
article thumbnail

8 Stages of Employee Journey That Empower Employees

Vantage Circle

According to statistics , a great employee onboarding experience helps improve retention by 82%. The numbers show that the employee journey, from onboarding to exit, is crucial to an employee's life. This journey includes various important stages: recruitment, onboarding, development, retention, and departure.

article thumbnail

14 Entry-Level HR Positions To Know (Plus How To Start in HR)

AIHR

The field of HR includes a variety of focus areas, such as recruiting, talent acquisition, compensation and benefits , HR training, employment compliance, diversity, equity and inclusion , HRIS technology, and HR communications. If you are interested in a certain HR specialty (compensation, benefits, recruiting, employee relations , etc.),

article thumbnail

11 Real-Life Human Resources Examples

AIHR

Effective employee onboarding process 7. From finding and hiring new talent, providing training and development opportunities, to ensuring compliance with labor laws and managing compensation and benefits. HR is a business-critical function in an organization because it manages a company’s most important assets – its people.

article thumbnail

Employee Turnover Data Analysis: 8 Tips for Success

AIHR

That would be a signal for you to reevaluate your compensation strategy. Instead, you might need to change your sales compensation structure. If you see new hires leaving in their first year, onboarding might be an issue. Hiring and onboarding: Are employees leaving within the first year?