Category Archives: Compensation Administration

Establishing an effective compensation administration program requires job analysis, job evaluation, and job pricing. A successful program will help attract top talent, retain core employees, and encourage longevity while efficiently using financial resources. Our articles and tips on Compensation Administration will provide you with How to information on compensation challenges including software, payroll, tax, and communication.

How to Use Market Data to Determine Salary Range

When in doubt about how to set an accurate salary range for a given position, market survey data are crucial. That’s Compensation 101-level stuff. What’s not always so clear, however, is what to do with those data.

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Looking at Plan Performance Through the Lens of Different Groups

Yesterday, Laraine McKinnon, defined contribution director at investment management company BlackRock, provided some insights on legacy 401(k) plans that may have fallen out of date. Today, her thoughts on forecasting outcomes by groups.

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Is Your 401(k) Plan Out of Date?

Like an old house that was cutting-edge when it was built but hopelessly archaic today, your 401(k) may have fallen behind the times. Is this true of yours? And, if so, what can you do about it?

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Factors to Consider in Calculating Raises

Yesterday, we looked at the wage increases recently announced by behemoths Walmart and McDonald’s®. Today: How to prepare for compensation increases at your own organization.

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Thousands of Workers Getting McRaise Starting July 1

The wage and benefit increases recently announced by McDonald’s® put the fast-food giant on the same path retail giant Walmart took back in February when it announced an increase in its starting wage.

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Bonuses and Flexibility Effectively Reward Top Performance

Yesterday, we looked at some performance review recommendations by Alan C. Fox, the president of ACF Property Management, Inc. and the author of PEOPLE TOOLS: 54 Strategies for Building Relationships, Creating Joy, and Embracing Prosperity. Today, we present the rest of his list.

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7 Ways to Improve Your Performance Review Process

Money is one reason the annual review is dreaded, notes Alan C. Fox, the president of ACF Property Management, Inc., and the author of PEOPLE TOOLS: 54 Strategies for Building Relationships, Creating Joy, and Embracing Prosperity. A second reason is that the employer needs to give the employee “constructive” criticism.

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As Skills Demand Rises, so Do Demands for Raises

If your managers are not already fielding requests from employees for raises and promotions, they soon may be, according to a recent Accountemps survey. An improving economy and higher demand for skilled workers means professionals are more confident in their job prospects—and they’re on the hunt for bigger paychecks and loftier titles.

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Shhhh…Should Employees’ Salaries Be Kept Secret?

Picture this: A manager calls his subordinates into a conference room and asks them to write down their salary and pin it to a board for everyone to see. Just the idea of this is cringe worthy …and compelling. It was, in fact, the premise of the 2012 British reality television show “Show Me Your Money.”

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Steps and Timeline for EEOC Collection of Employer Compensation Data

As we discussed yesterday, part of the federal government’s plan to achieve pay equality for men and women involves the collection of compensation data from federal contractors.

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