Yesterday, we explored the factors behind the rise of comprehensive variable pay programs—and the types of cost savings you can expect. Today, John A. Rubino of Rubino Consulting Services explains who (and what) can make the difference between variable pay success and failure.
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.
Comprehensive variable pay programs—more “pay at risk” for employees—are a growing trend for 2015 and beyond, notes John A. Rubino of Rubino Consulting Services. Here are some reasons why, and why you could save some serious money by implementing a comprehensive variable pay program at your organization.
Yesterday, John Rubino of Rubino Consulting Services explained some of the background on profit-sharing plans, the 3 steps to establishing a deferred plan, and 4 of the steps involved in executing it. Today, we present the remaining 5 execution steps.
Innovation drives productivity and opens up new opportunities. The most innovative companies, from Apple® to Zappos, are also the most successful. But innovation requires flexibility, a willingness to change, and a good tolerance for risk—three things that aren’t always part of compensation management.
Yesterday, we started to look at some of Payscale’s compensation recommendations for workers at all stages of their careers, taken from their report Compensation Challenges for a Multi-Generational Workforce. Today, the rest of the list.
While many of us continue to think of Millennials as the young whippersnappers of the office, the oldest of them are now 35 (and, no, this is no April Fools’ joke!). This may come as something of a shock—even setting aside the issue of how old this makes the rest of us feel. It also means that Millennials are rapidly moving into key leadership positions.
In yesterday’s Advisor, CareerBuilder’s annual job forecast survey predicted a sunny 2015 for jobseekers; today, the survey’s results reveal five up-and-coming trends in the comp and recruiting arenas.
According to CareerBuilder’s annual job forecast, more job openings are on the way in 2015. Over one third of employers polled are planning to hire full-time, permanent employees in the coming year—the most favorable outlook from the survey since 2006. Also on the agenda? Salary increases, including raises for minimum wage employees.