Today, we’re continuing our coverage of highlights from the results of the BLR® 2015–2016 Pay Budget Survey. Full survey results are available to our Compensation.BLR.com® subscribers on the website.
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.
Yesterday, we got some insights on the importance of a well-structured approach to compensation at your organization, courtesy of J. Timothy O’Rourke. Today, we look at his take on whether building an effective salary structure is more of an art or a science.
Whether you want to reward performance, time, knowledge, skills, or competencies, determining pay grades is the first step to creating an equitable, competitive compensation system. Without accurate pay grade determination, it won’t matter how valid the pay survey data you acquire are—your internal compensation will likely be too high or too low.
Yesterday, BLR’s Senior Compensation Editor Sharon McKnight, CCP, SPHR, took us through the process of finding compensation data for those slippery jobs that are tough to classify. Today: What to do if you’ve gone through all those steps and still find yourself coming up empty.
Additional Considerations as You Plan Your Salary Strategy: Job Descriptions, Salary Compressions, and More
Yesterday, Amy Letke, SPHR, GPHR of Integrity HR, Inc., took us through the ins and outs of aging factors: Lead, lag, or lead/lag—which is best for your organization? Today, she looks at additional considerations as you set out your compensation philosophy and strategy.