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.

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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2014-2015 Pay Budget Survey Results in; How Do You Compare?


"BLR’s 2014–2015 Pay Budget Survey shows modest changes in compensation for the coming year."

Highlights of the survey:

  • 18.2% of respondents are awarding merit increases (averaged across all employee types) of up to 2.5% in 2014 and 46.1% are awarding increases of more than 2.5%
  • 21% of survey participants awarded an increase of 2.51–3% for “Meets requirements” and 12.9% awarded that amount for “Exceeds requirements.”
  • The biggest challenge for respondents is “economy/revenue uncertainty.”

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T & D Survey Results Are In: How Do You Compare?


"Yesterday’s Advisor began our report on BLR’s 2014 Training and Development Survey; today, survey results on training methods, training budgets, and training metrics, plus survey demographics on the 1052 participants."

Training Methods

Our survey shows the following methods used regularly for training employees.

In the coming years, 86% expect to use more online training and 68% plan to utilize more in-person sessions conducted by the HR staff. More video/DVD and mobile/tablet-based materials will be used by 51%, and more telephone/audio conferences will be utilized by 47.9%.

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How Do You Compare? Training and Development Survey Results Are In


"Highlight findings of the 2014 Training and Development Survey:

  • New hire orientation is the most commonly offered training topic, followed by sexual harassment and emergency procedures.
  • HR conducts the training at 78 percent of respondents’ businesses.
  • In the coming years, 86 percent expect to use more online training.
"

Thanks to all 1,052 participants in the 2014 Training and Development Survey! Here are the detailed results:

HR’s Role

HR wears multiple hats when it comes to implementing training programs.

What Is HR’s Role?

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Comparative Compensation Scorecards: How’m I Doin’?


"Yesterday’s Advisor featured consultant David Insler’s examples of compensation scorecard items; today, his comparative charts for unit-to-unit and comp-to-business data."

Unit Performance Differentiation

It’s hard to read the numbers in the chart below, but it’s easy to see what the chart is saying.

The collection of data on the bottom right is for employees rated “needs improvement.” The middle grouping is for “successful” performers, and the grouping at the right is for “exceptional” performers. The chart shows the percentages of employees in each performance category over a 4-year period.

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Winning Compensation Scorecards: What to Measure for Effective Results


"A compensation scorecard is a powerful aid for improving pay for performance, reducing entitlement, and, often, increasing employee acceptance of the pay program, says consultant David Insler."

Compensation Scorecards

A compensation scorecard is any dissemination of aggregate compensation information beyond the HR organization.

There are several types of scorecards, says Insler, who is the senior vice president at Sibson Consulting and leader of Sibson’s Western Region. His tips came during a recent BLR-sponsored webinar.

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