Cascade Employers Association’s Post

Have you looked at your compensation program lately? What is your comp philosophy? With social factors such as elevated interest in diversity, equity, inclusion, and belonging, and economic factors such as inflation and an employee-friendly job market, HR and People leaders are facing tremendous pressure to create competitive compensation strategies and programs that retain and attract the people they need. But creating a compensation strategy that is comprehensive, fair, and competitive is no easy task. 15Five’s Compensation Playbook will walk you through all of the considerations and questions you will face as you design or improve the compensation strategy at your organization.

Developing a compensation strategy is crucial for attracting and retaining top talent while ensuring fairness and competitiveness. Here are three tips to help you create an effective compensation strategy: 1. Conduct a comprehensive market analysis 2. Align compensation with organizational goals 3. Emphasize total rewards and non-monetary benefits Reach out to Greg Loghrin today for more information on compensation in your organization. #LoghrinGroup #HRSolutions #CompensationStrategy

Today, staying abreast of the latest compensation strategies is critical to retaining talent and reaching your organization’s strategic goals. These ten trends are your roadmap to ensuring your compensation planning remains competitive and aligned with your business strategies and the needs of your workforce.

Part 3: Additional Core Insights The Compensation Handbook, by Lance Berger Compensation Philosophy: Foundational principles guide compensation decisions, ensuring consistency and alignment with organizational values. Variable Pay: Designing and implementing variable pay plans motivate employees by aligning their interests with company performance. Executive Compensation: The complexities of executive compensation require careful consideration to align executive rewards with long-term organizational goals. Integration into Modern Compensation Design Blending Factors: Total Rewards Approach: Integrate insights from Milkovich, focusing on a holistic compensation strategy including base pay, incentives, and benefits. Strategic Alignment: Ensure compensation supports business goals, as emphasized by Joseph Martocchio. #CompensationPhilosophy #VariablePay #ExecutiveCompensation #TotalRewards

Join us January 24 for a webinar highlighting Executive Compensation Trends in the A&E Industry. We'll go over best practices for executive compensation programs, review compensation philosophies and strategies for privately held organizations and family businesses, and share what A&E companies are planning for 2024 annual salary increase budgets. Register here: https://lnkd.in/gAuhbWmm

In various conversations with HR leaders across Canada, compensation has surfaced as a top priority for most. Compensation initiatives are an extremely impactful way to retain and attract talent and missed opportunities are so costly. If you're early stages and not quite sure how to get started, hopefully our post below is a helpful resource.

Join us January 24 for a webinar highlighting Executive Compensation Trends in the A&E Industry. We'll go over best practices for executive compensation programs, review compensation philosophies and strategies for privately held organizations and family businesses, and share what A&E companies are planning for 2024 annual salary increase budgets. Register here: https://lnkd.in/gAuhbWmm

Join us January 24 for a webinar highlighting Executive Compensation Trends in the A&E Industry. We'll go over best practices for executive compensation programs, review compensation philosophies and strategies for privately held organizations and family businesses, and share what A&E companies are planning for 2024 annual salary increase budgets. Register here: https://lnkd.in/gAuhbWmm

Successfully completed the compensation management Framework course, equipping myself with the latest insights and tools to drive results in the ever-evolving world of Human Resource.

When it comes to Compensation Management, Total Rewards, and Pay-4-Performance...