Compensation Insights

Compensation Principles for Effective Pay Strategies

In Part 2 of our multi-part blog series, we talk about the compensation principles that are foundational to ensuring your pay strategies produce the results required.

Striking a balance with core compensation principles

For the majority of organizations, core compensation principles should strike a balance between paying in a way that is externally competitive and internally fair. Yet, there are many different interpretations of what is fair. For this reason, it is critical to achieve clarity and agreement among key stakeholders on how the company should pay its people. This will ultimately inform your rewards philosophy.

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Tags: compensation, employee compensation, retention

Compensation Strategy: Balancing Company Goals with Industry Shifts

In this 5-part blog series, we’ll discuss how to build a compensation strategy for your company that balances company goals and industry shifts, supports business strategy, and ensures pay transparency.

Fair Pay for Employee Contributions

Oftentimes when managers discuss pay with their employees, they encounter questions for which they may not have an answer. Employees want to know they are receiving fair pay for their contributions, and may wonder...

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Tags: compensation, employee compensation, retention

The High Cost of Losing an Employee

We've found that business owners - especially those in middle market companies - are often surprised by how much it costs to replace an employee. 

According to Zane Benefits, a CAP study found average costs to replace an employee are:

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Tags: compensation, employee compensation, retention, replacing employees

Choose the Right Compensation Approach

Compensation Planning Insights Part 2

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Tags: compensation, employee compensation, compensation plan, compensation planning insights, designing compensation systems

Align Your Compensation Approach with Your Business Strategy

Compensation Planning Insights Part 1. The business environment is changing rapidly, and your company’s compensation strategy may not be keeping up.

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Tags: performance based compensation, compensation, employee compensation, compensation plan, business objectives, skill-based pay, business, business strategy, compensation planning insights, align business strategy and compensation