Category Archives: Compensation Planning

Employers have myriad options when it comes to designing a compensation plan, and they must consider and how it will fit into their overall strategy for recruiting and retaining employees. This group of Compensation Daily Advisor articles will provide you with how to information on managing job evaluation, interpretation of survey data, setting of rate ranges, determining individual pay rates, and much more.

Setting a Performance Matrix with Maximum Penetration Targets

Yesterday’s Advisor featured the first 5 of Consultant Whitney Herrington’s 7 alternatives for deciding on merit pay. Today, alternatives #6 and #7.

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The Seven Merit Allocation Strategies—Strengths and Weaknesses

There are seven basic merit allocation strategies, says Consultant Whitney Herrington. Compensation managers should be familiar with them all, including when they are appropriate (and when they are not).

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Pay for Performance Matrix with Maximum Penetration Targets

Yesterday’s Advisor featured the first 5 of Consultant Whitney Herrington’s 7 alternatives for deciding on merit pay. Today, alternatives #6 and #7.

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The Seven Merit Allocation Strategies—Strengths and Weaknesses

There are seven basic merit allocation strategies, says Consultant Whitney Herrington. Compensation managers should be familiar with them all, including when they are appropriate (and when they are not).

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What About Step-Based Pay? Good in Some Situations


"In yesterday’s Advisor, consultant John Rubino discussed why merit programs don’t work. Today, his take on variable and step-based pay systems."

John A. Rubino, who is the founder and president of Rubino Consulting Services in Pound Ridge, NY, offered his tips at a recent BLR®-sponsored webinar.

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How Attractive Are You to Potential Employees?


"If you want to attract the best employees, you must look as if you are the best company to work for. Appearance is everything. A very basic first step in managing your image is to review how you present your company, says Jasmine Rojas, BLR® legal editor."

For instance, while you may be the greatest employer, if you do not have a company website, chances are that you will appear “antiquated” and some candidates may not consider you as their top choice.  Therefore, the following are areas that you may want to explore in preparation for recruiting candidates.

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Building Your Employee Talent Pool—Best Practices


"Ironically, the high rate of unemployment does not mean that the skills, education, and experience that your company needs are readily available. Limited salary budgets don’t help."

Building a recruitment strategy that can meet the ups and downs of everyday business in a volatile economy is a tough challenge. To compound matters, you are not alone in your quest for the best employees.  Even companies that are not currently hiring are actively building their talent communities and their candidate pools in preparation for the possibility of future growth.

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Matching Your Total Rewards to Your Talent


"In yesterday’s Advisor, we covered Consultant Jennifer Barton, SPHR’s tips for maximizing your total rewards program. Today, we discuss what you can do to make it more effective."

Start by taking a talent inventory, says Barton, who is chief operating officer of Willis North America Human Capital Practice. She made her suggestions at the recent SHRM Annual Conference and Exposition in Orlando. You might start by populating a chart such as this, she says:

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Is Your Total Rewards Package Making a Difference?


"Your total rewards package affects your company’s ability to attract, motivate, and retain top talent. Is your program doing all that it could be doing? Consultant Jennifer Barton shows how to evaluate and improve your program."

Barton, chief operating officer, Willis North America Human Capital Practice, made her suggestions at the recent SHRM Annual Conference and Exposition in Orlando. She offers the following chart to help you classify your various reward elements.

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Pay Budget Results for 2015 (New Survey)


"In yesterday’s Advisor, we began our coverage of BLR’s 2014–2015 Pay Budget Survey results. Today, the rest of the results, including 2015 compensation planning."

[Go here for 2014 data and the rest of the survey results]

2015 Merit Increases

A mere 13.8% (down from 14.1% in 2013) of survey participants have decided and/or approved their pay budgets for 2015, leaving 86.3% undecided as of the end of June.

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