Proper compensation management is an important part of any business, and we’ve talked before about how good compensation management can help retain key employees. But how does compensation factor in to employee engagement? While compensation isn’t the only factor in...
If you’re looking for the right compensation management software, you’re going to want to do your homework in order to ensure your organization is getting the most bang for its buck. Diving blindly into this kind of search can waste valuable time and money, but with...
In the realm of compensation management, there’s one tool that seems to be universal: Excel spreadsheets. In them, compensation data is organized, calculated, and just generally wrangled into something workable that can be used practically. But no matter how...
When talking about compensation management, considering the role performance metrics should (or should not) play in your compensation strategy is important to consider. If your compensation strategy doesn’t include performance metrics and things are working out okay...
Making the decision to invest in a compensation management solution is only the first step of the process. After this, your organization needs to consider which compensation solution is the right choice based on your specific needs and goals. While there’s no...
Growing a business isn’t a simple step-by-step process. It involves adaptability, intuition, and the ability to analyze patterns and trends in order to make informed predictions which will (ideally) lead to success. The factors leading to success can be grouped into...
If you’re working in an HR or Comp department, administering compensation to employees can sometimes seem like a necessary evil rather than a normal and vital part of your business. Tracking down employee data from managers, glancing back and forth at spreadsheet...
The three Ps of a successful business are People, Product, and Process. Meaning, in basic terms, that you need to have a product which will sell and bring in revenue. You need to have a process which will allow you to produce that product efficiently so that you can...
Retaining key employees should be one of the main focuses of a successful business. When you look at the three main factors which determine successful operation of a business – people, product, and process – you notice that employees make up a third of that equation....
If your organization is at the point where the compensation process seems unmanageable, it’s time to try something new. Deciding on the correct course of action can be difficult, though, and requires a close look at the factors which brought you to this decision in...
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