It’s a critical question for any company to answer: Does your organization view employees as an investment or an expense? If you regard your employees as an expense, you probably don’t need to read the rest of this article. However, if you see them as an investment, does your organization truly ...
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Family businesses will always be vital to the economic landscape. But because nearly every successful or growing family business also employs non-family workers, managing the operation is a balancing act that requires extra due diligence when it comes to fair and effective employee compensation prac...
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When it comes to fair and effective employee compensation practices, pay transparency and pay equity should be top priorities. In fact, according to WorldatWork, these are likely to be two of the most important responsibilities in human capital in the next 2 to 3 years. Unfortunately, even though pa...
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Differences abound between transactional and strategic human resources, but even if the distinctions are clear to HR generalists, these terms get a little fuzzy when it comes to employee pay matters. Nonetheless, it’s important to understand the distinctions as these can be important to establishi...
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At Total Reward Solutions, we find ways to help clients rise to employee compensation challenges in good times and bad. That’s one reason so many clients consider us their trusted partner for compensation solutions, year after year. Another reason is that we offer a broad range of services, includ...
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Market pricing is an essential component of any successful employee compensation and total rewards program. Unfortunately, market pricing is also complex and cumbersome, with many factors and moving parts. These parts include the processes of submitting salary survey data, determining your market pr...
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When it comes to your organization’s compensation programs, none is more important than your base pay program. A base pay program provides structure and organizes your jobs so you can attract and retain talent. It establishes a baseline for merit pay, salary range variations, and regulatory compli...
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While employee compensation challenges seem to be ever-present, those challenges can become even more daunting in a tight labor market. And when unemployment is at historically low levels, employers feel pressure to keep employees satisfied with competitive base pay and attractive total rewards. Let...
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With five different generations in the workforce, it can be challenging to understand and balance their diverse expectations when it comes to total rewards. These rewards include everything an employee values in the work relationship, including compensation, benefits, work/life balance, performance ...
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Gender pay equality remains elusive more than 50 years since passage of the Equal Pay Act, and nearly 10 years since the Lily Ledbetter Fair Pay Act became law. And despite widespread awareness of the “gender pay gap”, many companies continue to do little to resolve the inequity. This inaction c...
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Pay differentials – when used properly – can be an important part of a successful employee compensation program. In fact, using pay differentials can signal your employees that you recognize variances in work conditions and are willing to reward employees who accept less desirable positions, shi...
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Compensation budgeting is often misunderstood, underemphasized and oversimplified. Many employers tend to factor in only an employee’s annual salary and benefits when considering personnel costs. But this shortsighted approach can lead to a budget shortfall and employee dissatisfaction – two cri...
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Compensation communication can be a critical link toward improving employee morale, performance, overall satisfaction, and company loyalty – and yet it is often an afterthought. Let's take a look at how damaging poor compensation communication can be, and how to use it effectively to motivate and ...
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Has your base pay system been in place several years without being reviewed or updated? If so, your company could be falling behind your industry, your competitors, and marketplace standards. That means you could be paying too much base pay in your current total rewards system, paying too little to ...
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On Tuesday, November 22, 2016, a U.S. District Judge suspended the December 1, 2016 implementation date of overtime rule changes in the Fair Labor Standards Act. While many businesses may be breathing a sigh of relief because they were in danger of non-compliance, the judge's order may be merely a t...
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IMPORTANT UPDATE: On Tuesday, November 22, 2016, a U.S. District Judge suspended the December 1, 2016 implementation date of overtime rule changes in the Fair Labor Standards Act. While many businesses may be breathing a sigh of relief because they were in danger of non-compliance, the judge's order...
Read MoreTime 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 time...
Read MoreHow 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 goals. Cho...
Read MoreTo 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....
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