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.

Why It Pays to Keep Your Job Descriptions Current

Yesterday, we looked at telecommuting—aka “the benefit that keeps on giving” to both employees and employers. Today, our take on another low-cost yet highly beneficial activity you’re probably not spending enough time on: updating your job descriptions.

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Outlook Sunny for Teens’ Summer Job Prospects

Yesterday, we talked about job prospects for the most recent crop of college grads, and things are looking good in terms of both starting salaries and number of jobs available. But what about the outlook for their younger brothers and sisters looking to earn some money at summer jobs?

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For Newly Minted College Grads, Things (i.e., Salaries) Are Looking Up

We’re now well into the swing of college graduation season, and the newest crop of alums has even more to celebrate than many of their predecessors—including ample job prospects and higher-than-usual starting salaries.

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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director at investment management company BlackRock, provided some insights on legacy 401(k) plans that may have fallen out of date.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Is Your 401(k) Plan Out of Date?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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