Not only do salaries account for up to 70% of business costs, but they also impact how easily you can attract and retain talent. Therefore, compensation packages should work in your favor to fairly reward and motivate employees. But, when there isn’t a clear salary structure, you risk discontent among your staff and losing more money […]

With the current U.S. unemployment rate at 3.6%, it’s safe to say that the labor market remains tight. As a result, candidates are looking more closely than ever at how fairly they’re compensated. Needless to say, this makes strategic compensation planning even more imperative for getting ahead of your competitors. Compensation planning doesn’t only involve salaries. […]

Compensation can be a sensitive topic in the workplace, but it’s an important conversation nonetheless. Not least because staff retention and the likelihood of attracting talent are often inextricably linked to your payment structure. Considering just 65% of people are satisfied with their compensation and 49% of U.S. adults feel they have to switch companies to gain […]

You don’t need us to tell you that compensation is key to attracting top talent. It’s not just popular opinion – the stats bear this out. As many as 52% of candidates say that competitive compensation packages are one of the most attractive elements of any job offer. With that said, it’s no wonder that displaying salary […]

Compensation benchmarking is the process HR leaders and compensation analysts use to set salary guidelines for jobs. They do this by comparing internal job positions to similar jobs in the industry and using market salary data from various sources to better understand the average salary for said position, industry and location. Salary benchmarking is a […]