As any strategist worth their salt will tell you, the secret to success is being prepared. And the secret to being prepared is being informed. You see, compensation planning isn’t so dissimilar from being a tactician as one may think. At the end of the day it all...
Rewarding hard-working employees for going above and beyond what’s expected of them is a familiar component of many organizations’ pay mixes. The idea is to further motivate them, and the way in which this works is twofold: You want to let them know that their hard...
Compensation can be a tricky beast to tackle. Even after an organization strategizes and implements what they feel to be the best compensation tactics for them, there’s still the need to actually administer it. Many organizations, however, still rely on inefficient...
These days it seems like everything is connected. Not even ten years ago it seemed the only internet connection you needed was for your PC, which was the sole portal to the World Wide Web for most users. Now, however, we’re always in a state of constant connectedness....
Compensation isn’t an exact science. The metrics by which compensation is determined vary from company to company, as does the types of pay programs and total rewards offered to employees. As much as we’d like to have a simple answer to every problem, there is no...
In our series on implementing a compensation management solution, we’ve gone over the first three major phases: analysis, development, and communication. We’ve looked at how the system takes shape over time, and how vital communication between the vendors and clients...
Our last two blog posts covered the first two phases of the implementation process for a compensation management tool – analysis and development. Specifically, these posts went over the expectations placed on both parties, and the role communication plays in making...
In the last blog post we went over the first step in implementing a compensation management tool, which is needs analysis. Specifically, we talked about the importance of open communication between the client and developer. The necessity of this communication becomes...
If your organization is seriously considering a compensation management solution, you’ve (understandably) got a number of questions. A lot, if not most of these, center around the implementation process. How long is it going to take to develop the system? How much...
Handling promotions is one of the many things managers deal with in their line of work. Though it’s not something that comes up incredibly frequently, generally occurring annually or semi-annually, it’s still an important task. Promotions are useful for rewarding...
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