Blog
A salary benchmark job is defined as a job that is widespread across many industries. For example, Accountant is a benchmark job. Some companies may …
The purpose of a Total Compensation Statement, otherwise known as a Total Rewards Statement, is to make the employee realize the overall value of the …
A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Performing a compensation …
A salary grade scale is a pay format where employees are placed within a pay level based on their education and work experience. Each job …
Median and average salaries are both measures of central tendency or the “middle of the market” regarding compensation. Many organizations target employee pay at either …
In today’s war for talent, an increasing number of organizations are leveraging performance-based compensation plans, like bonuses and merit increases, to reward top employees. Research …
Compensation decisions have a major impact on business success, from influencing employee engagement, productivity, recruitment, and retention to affecting profitability and compliance. With so much …
Earning CCP Certification can be expensive and time-consuming, but often a worthwhile investment. Most compensation professionals view a CCP as a long-term investment that will …
Salary compression (also known as “wage compression” or “pay compression”) occurs when employees with different skills and experience are paid similarly. When salary compression occurs, …
Salary bands, also known as pay bands, are pay ranges given to groupings of roles. Salary bands’ pay ranges are influenced by geography, cost of …
The salary midpoint is the middle point of a salary range’s minimum and maximum. The salary midpoint should represent a fair and competitive salary based …
No matter where you are in your career, it’s worth considering how pay gaps may impact you and those around you. Women earned just 85 …
A compensation structure (or salary structure) is a hierarchal group of jobs that are assigned to salary ranges within an organization. Salary structures are composed …
In human resource management, broadbanding is defined as having extremely wide salary bands, much broader than in traditional salary structures. While a typical salary band has …
Prioritizing fair pay and closing the gender pay gap are two of the biggest initiatives in compensation today. Implementing processes to sustain fair pay throughout …
How competitive are your company’s salaries? How fair is pay among your workforce? A quick way to identify potential problem spots is with compensation ratios. …
Businesses typically spend between 40 to 80 percent of gross revenue on employee salaries and benefits combined, depending on what sector the business is in. …
Have you been wondering: “what is pay compression?” It can be tricky to spot, even for seasoned HR pros. It’s time to get a better …