Equal pay has become a major issue for companies working on building their social profile with the public. Conducting a job evaluation is useful for HR departments to match appropriate pay with a given job description. Use this guide to job evaluation to improve your hiring of productive talent. Defining Job Evaluation HR departments design […]
Jun 29, 2022
Jun 22, 2022
There are many good reasons to start a nonprofit organization, such as developing a resource for your community. Whether the entity hires volunteers or has paid employees, it faces certain risks that call for special types of insurance. Here’s a look at what nonprofit executive compensation covers. Risk Nonprofit Executives Face Executives at a nonprofit […]
May 22, 2022
Of all compensation issues organizations have to confront today, and for the foreseeable future, pay equity is increasingly becoming the most defining. Key stakeholders, including employers and employees, agree on the need to have pay equity, but there are varying perspectives on the topic and various obstacles to achieving equitable compensation. What is Pay Equity? […]
May 15, 2022
The “Great Resignation” can be scary for most employers because in it, employees are leaving their organization at a higher-than-normal rate. However, there are effective ways to slow or avoid an unprecedented turnover in your organization. Workers are quitting their jobs for reasons that have existed for a long time, and those reasons should be […]
Apr 20, 2022
Per the U.S. Bureau of Labor Statistics (BLS), roughly about 47 million Americans quit their jobs in 2021, causing the national quit rate to hit new highs. Expert projections indicate that the labor shortage in the U.S. market may not end soon, mainly because candidates’ expectations at work are changing fast. It is worth noting […]
Apr 13, 2022
In today’s job market, it isn’t easy to find and retain great candidates. Moreover, the quit rate levels remain high as employees seek better prospects. Also, as the American population ages, the labor force participation rate is declining. Therefore, to acquire and retain the best talent, you need an effective talent acquisition strategy. Benefits and […]
Mar 17, 2022
In 2020, the Centers for Disease Control and Prevention (CDC) reported an increase in mental illness among American adults. This was largely due to pandemic-induced problems such as massive job losses, death of loved ones, isolation, safety concerns, and tough economic times. While almost everyone was a victim, healthcare workers suffered the most considering they […]
Mar 10, 2022
While pay hikes make for loyal employees, they can affect your bottom line. So, which compensation components should you increase or add (and how often) to keep your team happy and remain profitable? Here are some practical suggestions for small business owners. Select the Right Compensation Mix Choose a compensation mix to offer your employees […]
Feb 17, 2022
Executive compensation refers to remuneration packages specifically designed for C-suite executives, senior management, and business leaders of a company. The package includes both cash and non-monetary benefits. Given these individuals are responsible for formulating policies, strategies, and making important business decisions on behalf of their shareholders, executive compensation aims to motivate CEOs and other executives […]
Feb 10, 2022
No industry is immune to the ill effects of poor remuneration, including higher education. Compensation studies can help you retain and attract highly talented faculty members in an employee-driven labor market. They can provide valuable insights on the market value of each position and benchmark salary ranges. By compiling a compensation best practices report every […]