How often does your HR department measure its effectiveness? HR metrics and measurements can be powerful in showing us areas where we could improve and better meet the needs of our organization and its employees. They can also help provide meaningful data to help us make good decisions for our business and department.
Salaries are a business investment, and in order to make sure that you set fair and competitive compensation for jobs it’s important to use a structured method for setting compensation as opposed to choosing a random salary or simply using one salary survey or compensation source.
Pricing new and highly specialized jobs, salary discrepancies between sources, and making pay adjustments based on mixed rates of salary growth are three common compensation problems many companies are facing. Here’s how to resolve them.
Does your organization know the health of its base salary program? The health of your base salary practices can easily fly under the radar if you aren’t paying attention to certain important numbers. It may result in overpaying or underpaying employees, employees being paid outside of pay ranges, an uncompetitive mix of pay forms, or a low revenue return on your costly investments.
