Compensation and Understanding Realizable Pay
Total compensation calculations were simple in the good old days. Though mistakes were still made, the calculation was largely straightforward. You would decide on your base pay for the year, add bonuses and other cash incentives, and then call it quits. This data was made available by publicly traded corporations so that investors may forecast […]
Optimize Your Commission Based Pay & Sales Compensation
A major challenge for businesses expanding rapidly (e.g., startups) is fairly compensating employees when income has yet to stabilize. These businesses occasionally solely pay their salespeople on commission in the hopes that they would perform well, continue to close transactions, and bring in new customers. Commission-based remuneration makes sense from a leadership standpoint in terms […]
Should You Embrace Transparent Wage Policies?
A common policy found in many businesses is a prohibition against the disclosure of wage information. This type of policy serves the purpose of preventing workers from battling with HR and each other over who is getting paid what and why. Keeping wages under wraps also prevents employee jealousy about managerial and executive salaries. After […]
Tips for Talking About Employee Compensation
According to common wisdom, there are three things you should never talk about in public—religion, politics, and of course, money. Unfortunately, the taboo against talking about money even extends to not-quite-public spaces, like the workplace. And that’s ironic, because most people assume employment to earn a living, and yet the standard rule is to avoid […]
These Employee Turnover Myths are Hurting Your Company
There’s a lot of misinformation out there regarding employee turnover. Some “experts” recommend employers keep an almost hypervigilant watch on turnover rates, while others recommend employers stop worrying about the rates altogether! These Employee Turnover Myths are Hurting Your Company Despite all the talk, however, nobody has come up with a foolproof solution for resolving […]
How to Manage Employee Pay Ranges
Human Resource professionals spend a great deal of time and effort developing suitable compensation structures that fill the requirements for their organization as well as meet the expectations of employees. However getting pay ranges nailed down can prove to be a real migraine, especially for larger organizations. Key questions that need to be asked during […]
