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Compensation Administration

New Salary Data Released
Authored By: HR Performance on 11/1/2017

The Compease Team adjusts salary range structures each year to reflect market movement. The Team started with financial institutions, which was released this week, and will then move on to other industries such as healthcare, manufacturing, and many others. What goes into the extensive analysis we do to keep Compease up to date?

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2018 Salary Budget Automation - How to Get Started.
Authored By: HR Performance on 9/14/2017

Automation is changing the landscape of HR. Where we once relied solely on spreadsheets and completing tedious tasks, we now have access to tools that capture and use data seamlessly. Because of recent improvements in integration techniques, data from one application can be shared with another, allowing HR to increase efficiencies.

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Another Win for HR: Automate the Company Bonus Pay Process
Authored By: HR Performance on 8/17/2017

Bonus pay! What excites employees more? But, is HR equally as excited to manage the process? How does your organization arrive at appropriate bonus amounts, how are final bonuses calculated and communicated, and how messy is this process for HR, management, and employees?

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Optional Pay Increases Based on a Supervisor's Discretion: Should HR and the CEO Endorse It?
Authored By: HR Performance on 8/10/2017

Many organizations have compensation practices that don’t offer managers much autonomy, and managers want to be more involved. They know things about their team that can’t be quantified even in the best performance review. How can HR empower managers by giving them more flexibility around how they compensate their employees?

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A Common Compensation Trap: Poor Data Sources
Authored By: HR Performance on 8/2/2017

While most CCPs recommend that you avoid self-reported data, there isn’t a practical way to keep your employees from looking at, and approaching you with, self-reported data. When an employee comes to you to discuss the “comparable pay that they found online,” be prepared to help them understand where that data comes from and why it is skewed. 

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The Move Toward Automated Compensation Applications
Authored By: HR Performance on 5/16/2017

Top performing employees cite competitive pay as one of their priorities when selecting a place to work. How do leading-edge organizations reliably determine salary ranges and then keep them updated throughout the years so that they can attract and retain top performing employees?

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Develop a Company-Wide Compensation Philosophy
Authored By: HR Performance on 4/18/2017

Making high-stakes decisions is hard. That is why, as organizations get larger, they develop frameworks and policies which free them from having to make decisions again and again about the same topic. Those frameworks and policies also help create and explain a structure for fairness and equality within a company.

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Compensation 101: Get to Know Compa-Ratios on 4/11/2017

Organizations need to find their pay sweet spot. If they pay too little, they run the risk of only attracting low-quality talent and losing their existing high-quality employees. Conversely, if they pay their employees too much, they aren’t being responsible with the company’s resources. Hence the need to find the sweet spot, the place where pay isn’t too high and it isn’t too low.

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Learn a Compensation Lesson from Yahoo on 3/28/2017

Fast Company, along with many other news outlets, recently ran an article about how the new male CEO of Yahoo will be making twice as much as Marissa Mayer, the former female CEO.

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Annual Salary Raises or One Lump Sum Payment: When to Use Each
Authored By: HR Performance on 2/23/2017

A lump sum payment is a one‐time payment an organization gives to an employee instead of a base pay increase.

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Are You Feeling the Attraction and Retention Pinch?
Authored By: Gene Mandarino on 11/12/2015

Are you feeling the attraction and retention pinch? If you aren’t yet, you soon will be. Executive mobility is increasing, unemployment is dropping, and retirement funds are growing. Credit unions are no longer recruiting from the ranks of the unemployed but are being forced to recruit from the ranks of the employed. This market dynamic will drive up the costs of attracting and retaining executives. Is your compensation strategy prepared to deal with this?

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Pay Equity Roadblocks
Authored By: Megan Mohr on 9/9/2015

Does your organization have an unusually high turnover rate? Or maybe it’s getting one too many employee complaints when it comes to salaries and raises? You might be facing pay equity roadblocks.

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Seeing Both Sides of the Compensation Story
Authored By: Megan Mohr on 12/22/2014

As they say, there’s two sides to every coin – especially when it comes to compensation and pay perception. Employees usually feel underpaid and undervalued while the organization as a whole is trying its best to be fair and equitable. How can these two sides meet in the middle? By improving pay perception.

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