News
July 2010 – SPECIAL ANNOUNCEMENTS
This month's update includes an invitation to participate in an important annual salary increase survey and registration details for a September 14th breakfast briefing.
Tight Budget/No Money
The top concern of HR professionals in 2010 is how to manage an incredibly tight budget. Whenever we get in the 3% range for salary increase budgets, spreading it out becomes a challenge. The specifics of your industry, company financial condition, staff demographics and underlying pay systems will need to drive decisions for each organization. Here are some ways organizations are dealing with these challenges:
Titles are Free
Several recent articles about stretching compensation dollars in these tight financial times recommend giving bigger titles to employees as a good way to keep costs down while making employees feel appreciated. In the near term, this is likely to be true. However, what is free this month or this year is unlikely to remain that way.
Save More Salary Dollars - Communicate!
Employee satisfaction with pay is directly linked to communication about pay.
Seven Tips for Selecting Salary Surveys
Salary surveys are an essential tool for any organization. Knowledge of the market makes it easier to make good pay decisions. But there are always new and changing data sources. How can we get the most out of this important resource without unnecessary spending? Here are some tips for finding the best surveys for your organization.
July 2010 – SPECIAL ANNOUNCEMENTS
This month's update includes an invitation to participate in an important annual salary increase survey and registration details for a September 14th breakfast briefing.
Tight Budget/No Money
The top concern of HR professionals in 2010 is how to manage an incredibly tight budget. Whenever we get in the 3% range for salary increase budgets, spreading it out becomes a challenge. The specifics of your industry, company financial condition, staff demographics and underlying pay systems will need to drive decisions for each organization. Here are some ways organizations are dealing with these challenges:
Titles are Free
Several recent articles about stretching compensation dollars in these tight financial times recommend giving bigger titles to employees as a good way to keep costs down while making employees feel appreciated. In the near term, this is likely to be true. However, what is free this month or this year is unlikely to remain that way.
Save More Salary Dollars - Communicate!
Employee satisfaction with pay is directly linked to communication about pay.
Seven Tips for Selecting Salary Surveys
Salary surveys are an essential tool for any organization. Knowledge of the market makes it easier to make good pay decisions. But there are always new and changing data sources. How can we get the most out of this important resource without unnecessary spending? Here are some tips for finding the best surveys for your organization.
Radio and Video Clips
Compensation
Trends – nextcompTV with Matt Johnson aired July 24, 2009
Catherine and Matt chat about compensation trends and what we expect
in the near future. (15 mins)
Base
Pay vs. Incentives – nextcompTV with Matt Johnson
aired July 30, 2009 Bob and Matt discuss base pay, incentives and the importance
of communication. (20 mins) Also available on Youtube.
http://www.ustream.tv/recorded/1897535
Radio Compensation Trends – Work Does Matter with Denise Rubin KKNW 1150 aired on July 10, 2009 Catherine and Denise discuss current compensation issues. 60 minute program.
Recent
Articles Quoting Catherine Dovey
Rewarding
Exempt Employees - from the September 2006
issue of the Society for Human Resources Management's (SHRM)
HR Magazine
Now Hear This - article about open enrollment and benefits from the June 2006 issue of HR Magazine
Please contact Catherine for copies of these articles: Decompressing Pay - from the December 2005 issue of HR Magazine Figuring the Return On Incentive-Plan Investment -from the Aug. 3, 2006, issue of Career Journal
Human Resources Expert at HRMToday.com