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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?

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Pay Transparency: Experts Weigh in on What HR Can Do

AIHR

So, should HR professionals pay more attention to how pay transparency works, the pros and cons of a pay transparency strategy, and how to implement a pay transparency policy? The longer organizations take to implement true pay transparency policies, the more talent they are likely to lose to other businesses already following best practices.

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What Is Compensation Management and What’s HR’s Role in it?

AIHR

Is your compensation management approach helping or hurting your organization in the talent war? In a recent LinkedIn Talent Solutions report , compensation was ranked as the #1 top priority for candidates worldwide. In this article, we’ll explore the ins and outs of compensation management and why it matters.

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Performance Management 2.0: Improving Your Employee Motivation Strategy

15Five

I joined 15Five’s Director of People Science, Courtney Bigony and Chief Culture Officer, Shane Metcalf, in a recent webinar where we addressed ratings and compensation as they relate to performance reviews. Instead, implement a performance improvement process to manage poor performers. Q&A: Employee Motivation and Performance.

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Human Capital Management (HCM) Software For Enterprises In 2022 & Beyond

Walk Me

Software managers can add and monitor specific goals and record the employee’s benchmarks to show their progress. Talent management systems contained within HCM software exist to support companies in managing leadership development, performance, and compensation management. Compensation management. Talent management. Compliance.

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A Comprehensive Guide to the Compa Ratio

AIHR

In its original use, compa ratio (or comp ratio, or compensation ratio) is a simple formula designed to compare an individual’s actual salary to the midpoint of a defined salary range. Over the past few decades, HR and compensation professionals have found many more ways to use it. Compensation definitions. What is compa ratio?

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How SMBs Can Start Closing the Pay Gap Now

Zenefits

The report by OpenComp, a provider of compensation benchmarking tools for startups, offers some answers. According to the research, the need for access to compensation data — the report’s top barrier to closing the wage gap — is critical to achieving wage parity. Using compensation data. Legacy survey providers.