If you think you understand the high cost of employee turnover, think again – a recent Forbes article claims the cost of replacing skilled and specialized employees can, in many case, be well above the employee’s annual salary. Even the costs associated with replacing entry-level employees...
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Committed to keeping you informed with topics you care about. Other Key ResourcesContact UsCheck out our dozens of informative articles on employee compensation and total rewards. Then, be sure to scroll down to the bottom of the page where you can sign up for our newsletter and be the first to know when a new article is posted.
Recent Selections From Our Blog:
Compensation Sense: The High Cost of Employee Turnover is Even Bigger Than You Think (Here’s What You Can Do About It)
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Compensation Sense: Most Employees Believe They Are Paid Below Market Rate (and This Affects Their Work and Loyalty)
Perception is reality – and the reality is that most workers believe they are being paid below market rate regardless of where they actually stand compared to their peers. Another significant reality is that this perception negatively impacts not only how engaged these workers are in the...
Compensation Sense: Significant Overtime Rule Changes Could Impact Your Workplace and Bottom Line
Proposed revisions to the Fair Labor Standards Act (FLSA) could significantly impact your workplace, your compensation expenses, and your overall financial bottom line. When enacted, the proposed changes – which affect the FLSA’s overtime rules (and specifically, who qualifies to receive...
Total Reward Solutions Celebrates 10 Years in Business
For Immediate Release TOTAL REWARD SOLUTIONS CELEBRATES 10 YEARS IN BUSINESS Indianapolis based company, Total Reward Solutions, consults with companies on their compensation, benefits, and performance management systems and helps them understand, analyze and plan how to handle changes in...
Compensation Corner: How We Help Our Clients with Compensation Services for Total Rewards
At Total Reward Solutions, we value strategic partnerships and strive to make sure that any referrals you send our way reflect positively on you. That’s why we not only offer the compensation services that truly help organizations provide competitive and motivating total rewards for...
Department of Labor Announces Proposed FLSA Overtime Rule Changes
[INDIANAPOLIS, IN] (July 2015)—Employers are seeking ways to understand the proposed changes to the overtime regulations under the Fair Labor Standards Act (FLSA) that the Department of Labor (DOL) announced this week. The revisions could impact millions when the final ruling possibly becomes...
Compensation Highlights: Our Complete Range of Compensation Services for Total Rewards
Our vision for Total Reward Solutions is that we continue to be your trusted partner when you need compensation services and consulting. I believe that two things can help us build and maintain the kind of professional relationship to realize that vision: 1) We need to offer the kinds of...
Compensation Sense: What Do We Mean by Innovating Total Rewards to Drive People and Business Excellence?
When I formed Total Reward Solutions in 2005, I wanted to do more than merely utilize my skills and background in compensation and rewards programs; I wanted to make a difference. I wanted to make the complex world of HR and compensation a little easier for our clients. I wanted to bring...
Salesperson Compensation, Part 3: Understanding the Mechanics, Implementation, and Planning for the Next Cycle
In our last couple of newsletters, we noted the unique factors that demand a different kind of compensation structure for your organization’s salespersons. We showed that sales compensation must be a motivator for continued performance excellence. And we described how to strike the right...
Is a Department of Labor Audit in Your Future? Is Your Compensation Plan Ready?
Navigating employee compensation can be complex and overwhelming. And when you add the specter of compliance nightmares and increasing numbers of Department of Labor (DOL) audits and Fair Labor Standards Act (FLSA) suits… Well, it can get downright scary. Of course it can be a lot less frightening...
Salesperson Compensation Part 2: Finding the Right Balance
In our last newsletter, we set the stage for understanding why the salesperson’s unique role in an organization demands a unique compensation and reward system. We noted that the salesperson’s importance to bottom line organizational results means that compensation must be more than...
Why Salesperson Compensation Demands a Unique Reward System
The salesperson has a unique place in the organization. If the salesperson does not feel motivated to perform at a high level, revenues falter. And if sales performance remains at a low level for very long, the organization could fail, leaving dozens or hundreds or even thousands of employees...
Minimum Wage, Living Wage and Fair Wage: How Do They Differ and Why Should You Care?
The topic of minimum wage standards is in the news again; in fact, the subject seems to be a constant source of confusion and debate. Making matters more complex these days is the fact that new terms have emerged: “Living Wage” and “Fair Wage”. There are, indeed, important...
Time for a Fresh Look at Your Base Pay System?
Time marches on. Conditions change. What worked once might not be so effective anymore. These truths apply to many aspects of life, and they are certainly true in the world of employee compensation. In fact, if your base pay system has been in place for 3 years or longer, it is almost certainly...
What Does Compensation Have To Do With FMLA?
Whether you or a family member has taken advantage of it or not, you are probably familiar with The Family Medical & Leave Act, or FMLA, which recently turned 21 years old! But what is the connection between the FMLA and compensation? How does the FMLA affect your overall compensation program?...
7 Key Parameters for a Successful Employee Incentive Compensation Program
No matter which types of employee incentive compensation programs you implement to elevate staff and corporate performance, there are certain key parameters you’ll need to establish. For instance, you’ll need to determine who is eligible for participation and how their rewards will be...
6 Types of Employee Incentive Plans You Should Know About
Employee incentive programs can empower employees and management. They can create a team culture that thrives on cooperation and pride. And ultimately, they can boost productivity and profits. But before incentive programs can do any of these things, they must be thoughtfully planned and carefully...
Which Salary Structure is Right for Your Company?
How does your company structure its salary system? Frankly, many companies don’t even realize there are different methods to crafting and implementing their salary and compensation programs. But the salary structure a company chooses should say much about their compensation philosophy and...
Merit is a Key Compensation Factor. Do You Know 3 More?
When it’s time to plan your company’s compensation budget, there are a variety of key factors to consider. Basing your compensation budget on merit is one obvious consideration. But if your compensation budget is based almost solely on merit, you could be overlooking important...
Keeping Score to Create “Win-Win” Compensation
Does your business keep score? No, I’m not talking about earnings reports, balance sheets or stock prices; rather, I’m talking about a compensation scorecard. A well-crafted and comprehensive compensation scorecard not only describes your company’s various compensation program...
The Secret Tool to Help Your Company Find and Keep Top Talent
To succeed and grow, your company needs the right people in the right jobs working together to do the right things. But how can you attract – and retain – the right people? Admittedly, it can be a challenge. But there IS an often overlooked tool to make employee recruitment and retention easier....