Category: Compensation

Webinar Replay: 2023 Hiring Outlook

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Written by on December 7, 2022

Do You Trust Your Compensation Data?

A recent study on compensation and employee performance shows a statistically high correlation between work quality, attitude, reliability, and the competitiveness of the employee’s salary. But how do HR teams ensure they’re offering competitive compensation? In a nutshell, businesses need accurate labor market and salary data to confidently offer top talent competitive wages and quickly respond to […]

Written by on October 24, 2022

Job Swimming: Meeting Expectations

The fight for comfort is the current reality for workers. The job market is developing an employee-centric undercurrent, shifting the dynamic from job-seeking to job-swimming. So, how do employers secure talent that will stay? An authentic person-centered approach bodes well with an emerging professional generation with high standards and a string of older generations quick […]

Written by on September 16, 2022

Do you need a compensation solution?

In 2023, LaborIQ predicts that companies will need to hire 65 million employees. However, although many global authorities have experienced unprecedented economic volatility this year, the employment market remains ever-competitive. Not least because employees are more fearful of leaving their jobs during periods of economic uncertainty, making for an increasingly tight labor market. So, what do employers […]

Written by on September 16, 2022

A Guide to Supporting Laid Off Employees

The economic downturn in the U.S. is real. Inflation sits at 8.5% (down from a historic high of 9.1%). Against this bleak picture, there’s evidence to suggest that businesses too are experiencing or expect to experience financial woes as a result of the pandemic, including slower growth, supply chain issues and economic uncertainty. For example, more than 80% […]

Written by on September 14, 2022

Which Compensation Data Should You Be Analyzing?

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 […]

Written by on August 23, 2022

A Step-by-Step Guide to the Compensation Planning Process

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. […]

Written by on August 16, 2022

A Handy Compensation Benchmarking Template

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 […]

Written by on August 11, 2022