The Basics of Pay Analysis

5 Ways to Improve Your Compensation Strategy

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_corporatewellness.jpg" alt="header_CorporateWellness"/><p>Tess C. Taylor, PHR </p><p>Years ago, a college graduate had a long-term future and a pension plan with a single company to look forward to. Nowadays, however, the average life-span of a career is determined by the performance of the company. In uncertain times, working professionals are seeking compensation that’s outside of traditional salaries and retirement perks. They are looking for a <a href="https://www.payscale.com/compensation-trends/compensation-strategies-that-work" title=" class=" target=" rel="noopener noreferrer">compensation strategy</a> that’s based on their individual contribution and competency. </p>

HR Cost Cutting with a Red Circle Policy

PayScale`s Compensation Glossary: Part 3 of 4

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/Blogs/header_comp101_main.png" alt="Header_Comp101_Main" /> <strong>Jenni Marquez, CCP, PayScale Compensation Professional</strong></p><p>Wow! Can you believe it that we’re half way through our 4-Part Comp Glossary bringing you closer to ‘comp’lete mastery of the compensation language?! In part 3, we bring to you: Pay Structures.

Comp Basic: Mean vs. Median

<h1 class="subhead">The Difference Between Mean and Median</h1> <p>Midpoint, market ratio, mean, median, merit bonus - I don’t know what it is with “m” words in compensation, but there are a lot of them and it can get confusing. Let’s try to simplify things by breaking down the difference between two commonly confused words: mean and median.</p>

What is a compensation philosophy? How to write one

A compensation philosophy provides overall direction for how you intend to use your compensation budget. It answers how you will prioritize your compensation spend, based on a set of principles and values that are important to your business. In other words, your compensation philosophy serves as a mission statement for your compensation plan.

Is your base pay falling short?

<img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader10_6.jpg" alt="Base pay falling short image" title="BlogHeader10_6"><p><a href="https://plus.google.com/102099066436032147105? rel=author">Jessica Miller-Merrell,</a>&nbsp;blogging4jobs </p><p>When candidates apply for a job they generally dread seeing the three-letter acronym for pay on job requisitions, TBD. Employers, on the other hand, love being able to put this acronym because it creates a flexible environment where they can offer base pay based on experience alone if they’re not able to find the specific candidate they’re looking for. It’s clear that employers and employees think differently when it comes to offering any type of base pay. </p>