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.
FLSA: Fair Labor Standards Act
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.
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.
As we discussed yesterday, part of the federal government’s plan to achieve pay equality for men and women involves the collection of compensation data from federal contractors.
Big data is omnipresent in today’s business landscape. Metrics and analytics, along with the hypotheses drawn from them, are having a great impact on how decisions, big and small, are made—including in the field of human resources. So, what’s happening with HR metrics out there? What are your competitors measuring to gain an advantage? Help us find out!
Yesterday, we looked at tips from BLR’s Senior Compensation Editor Sharon McKnight, CCP, SPHR, on aging your salary data. Today, McKnight’s insights on figuring out your market position—are you leading, lagging, or lead-lagging?