The Basics of Pay Analysis

Forget Happiness. Wellness Emerges as a Compensation Strategy

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_wellness_main.png" alt="Header_Wellness_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a><br><p>Employee engagement has been a buzzword in the human resource world for a while. It’s just common sense. When employees are happy and engaged at work they tend to be more productive. Much of this has been focused on employee happiness as an indicator of a solid compensation program – the better employees are paid and the more perks they enjoy; the greater their happiness should be, right? Not so much. Our <a target=" class=" title=" href="https://www.payscale.com/cbpr" rel="noopener">2016 PayScale Compensation Best Practices Report </a>indicates that 73 percent of employers believe they are paying fairly, but only 36 percent of employees agree. Interestingly enough, some employers are shifting to creating overall physical and financial wellness for employees, and earning a better ROI. What’s this all about? </p>

Four raises a year

<img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader8753B77FD846D.jpg" alt="Four raises a year image" title="blogheader8" sfref="[images|OpenAccessDataProvider]b837059b-def5-6347-a9d2-ff00007054ad"><p><a href="https://plus.google.com/u/0/111048221756567587195? rel=author">Tessara Smith, </a>&nbsp;PayScale </p><p>One of the latest trends in employee compensation and motivation is giving employees four (small) raises a year as opposed to one large raise. Many companies have become strong proponents of this innovative payment strategy and executives are dumping the annual salary review in favor of giving out raises and bonuses a couple times per year. This begs the question, are quarterly raises a good idea for your company?</p>

The low down on employee turnover

<p><img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader5_1.jpg?sfvrsn=0" title="BlogHeader5_1"></p><p><a href="https://plus.google.com/115301125688955669806? rel=author">Crystal Spraggins,</a>&nbsp;SPHR </p>According to PayScale’s <a href="https://resources.payscale.com/hr-2015-compensation-practices-report.html"><em>2015 Compensation Best Practices Report</em></a><em>,&nbsp;</em><span style="line-height: 1.5">the top five reasons for turnover in 2014 were: <span><br><ol><li>Employees seeking higher compensation (20.8 percent)</li><li>Personal reasons (20.6 percent)</li><li>Employees seeking advancement elsewhere (17 percent)</li><li>Termination due to poor performance (16 percent)</li><li>Employees seeking different company culture/expectations (9 percent)</li></ol> <p> </p> <p><p>

Holiday parties vs. employee bonuses - what do employees most look forward to?

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_holidayparty.jpg" alt="header_HolidayParty"/><p><a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer" style="line-height: 1.5;">Tess C. Taylor, PHR, The HR Writer</a></p><p>Get out your party hats – it’s the annual holiday season! This time of year signals a time when employees eagerly look forward to what the company has in store for them. Like little kids in a candy shop, they wonder if they will they get another turkey from the boss again this year, or does he have something else up his sleeve – like a bonus check? </p>

Compensation Strategies for a Bad Economy

Why retaining employees is now even more important than retaining customers

<p><img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader5_7.jpg?sfvrsn=0" title="BlogHeader5_7"> </p><p><a href="https://plus.google.com/102099066436032147105? rel=author">Jessica Miller-Merrell,</a>&nbsp;blogging4jobs </p>How do you retain customers? Common answers may include creating kickass products, having a strong brand, or having great data to help you beat the competition.</span></p> <p> </p> <p>But there’s another key to retaining customers and that’s by retaining your employees. Your employees are the framework on which all of your company’s success is built, which is why a company with low turnover is far more likely to be successful than one with high turnover.