ASK HR 360’s Post

A recent study by ResumeLab revealed that a whopping 80%* of job seekers would reconsider applying to job postings lacking salary information. While many business leaders may not have fully embraced this paradigm shift, most compensation professionals acknowledge the inevitability of salary range transparency. Read the article to learn how this transformation will redefine the role of compensation professionals within their organizations. https://lnkd.in/gp8ci3Ff #WorldatWork #WorldatWorkIndia #Paytransparency #HR #Totalrewards #compensation #Benefits #Rewards #hiring #jobposting #Recruitment

Expect compensation increases to remain historically aggressive in 2024! 2023 saw the highest increase in salary budgets during the last 20 years and our clients are rightly remaining aggressive. According to a September Society for Human Resource Management article, top performers representing 26% of the professional workforce saw an additional 30% +/- compensation surge above mid-tier talent. Mercer's US Compensation Planning Survey also indicates that "employers are continuing to invest in compensation to combat prolonged tight labor markets." Our internal data aligns, and compensation ranges for recruiting assignments commenced in the fourth quarter signal that onboarding top talent in 2024 will continue to require a premium compared to pre-pandemic norms. Attribute this to high workforce participation despite a flattening economic growth curve. If there is a wage growth dip in 2024, it will not be meaningful. We can help our clients navigate compensation challenges via access to real-time industry-specific compensation data for the roles they seek to fill. If you're looking for additional compensation guidance as you prepare compensation budgets for 2024, please don't hesitate to reach out. We're happy to provide industry-specific insight to support your hiring journey. Dan Frank #hiringtrends #Frankpartnersgrp #executivehiring #compensationtrends  #recruiting

Power Up Your #Compensation #Strategy: Elevate your expertise in compensation and benefits (C&B) with @Pay2perQ 's #TotaRewards and #CompensationBenchmarking #Workshop, led by industry veteran Nirzari Sen (PHR/SPHRi) Here's what you'll gain: #MarkeIntelligence: Gain access to design comprehensive compensation data, including salaries, bonuses, benefits packages. #Data-Driven Decisions: Learn how to leverage data analytics to identify pay gaps, optimize your compensation structure, and ensure internal equity. Make informed decisions backed by concrete evidence. #RoleCost Strategies: Discover effective methods to control compensation costs while maintaining a competitive edge. Nirzari Sen, a C&B specialist, will share practical tips for optimizing your budget without compromising employee satisfaction. #Benchmarking Best Practices: Learn best practices for conducting effective compensation benchmarking across different industries and locations. Walk away with the confidence to: - Design and implement #TotaRewardFramework, #JobroleArchitecture , #InternalPayEquity , #ExternalPayPosition, Understanding and translating complimentary #compensationreport & lastly create #CompensationDashboard for Management review meeting. Register for Pay2perQ's Total Rewards and Compensation Benchmarking Workshop today and we shall share details content with you! - https://lnkd.in/dWZvmkga You can also be a part of Learning groups : - Compensation and Benefits ( CNB Related): https://lnkd.in/e9q2JPHr - HR Jobseekers (Only HR jobs): https://lnkd.in/dqfwPbHM

Expect compensation increases to remain historically aggressive in 2024! 2023 saw the highest increase in salary budgets during the last 20 years and our clients are rightly remaining aggressive. According to a September Society for Human Resource Management article, top performers representing 26% of the professional workforce saw an additional 30% +/- compensation surge above mid-tier talent. Mercer's US Compensation Planning Survey also indicates that "employers are continuing to invest in compensation to combat prolonged tight labor markets." Our internal data aligns, and compensation ranges for recruiting assignments commenced in the fourth quarter signal that onboarding top talent in 2024 will continue to require a premium compared to pre-pandemic norms. Attribute this to high workforce participation despite a flattening economic growth curve. If there is a wage growth dip in 2024, it will not be meaningful. We can help our clients navigate compensation challenges via access to real-time industry-specific compensation data for the roles they seek to fill. If you're looking for additional compensation guidance as you prepare compensation budgets for 2024, please don't hesitate to reach out. We're happy to provide industry-specific insight to support your hiring journey. Dan Frank #hiringtrends #Frankpartnerscpg #executivehiring #compensationtrends #recruiting

Last chance to enroll. Batches starting from 19th, May 2024.... Power Up Your #Compensation #Strategy: Elevate your expertise in compensation and benefits (C&B) with Pay2perQ's #TotaRewards and #CompensationBenchmarking #Workshop, led by subject matter expert Nirzari Sen (PHR/SPHRi) Here's what you'll gain: #MarkeIntelligence: Gain access to design comprehensive compensation data, including salaries, bonuses, benefits packages. #Data-Driven Decisions: Learn how to leverage data analytics to identify pay gaps, optimize your compensation structure, and ensure internal equity. Make informed decisions backed by concrete evidence. #RoleCost Strategies: Discover effective methods to control compensation costs while maintaining a competitive edge. Nirzari Sen (PHR/SPHRi), a C&B specialist, will share practical tips for optimizing your budget without compromising employee satisfaction. #Benchmarking Best Practices: Learn best practices for conducting effective compensation benchmarking across different industries and locations. Walk away with the confidence to: - Design and implement #TotaRewardFramework, #JobroleArchitecture , #InternalPayEquity , #ExternalPayPosition, Understanding and translating complimentary #compensationreport & lastly create #CompensationDashboard for Management review meeting. Register for Pay2perQ's Total Rewards and Compensation Benchmarking Workshop today and we shall share detailed content with you! - https://lnkd.in/dWZvmkga You can also be a part of Learning groups : - Compensation and Benefits ( CNB Related): https://lnkd.in/e9q2JPHr - HR Jobseekers (Only HR jobs): https://lnkd.in/dqfwPbHM Satrajit Sen

Pay2perQ's Total Rewards and Compensation Benchmarking Workshop, led by C&B Expert Nirzari Sen. This intensive session equips you with critical tools to: Uncover market secrets: Gain access to exclusive compensation data - salaries, benefits, trends - to craft competitive offers that attract top talent. Become a data whiz: Master data analytics to identify pay gaps, optimize structures, and ensure internal equity. Back your decisions with hard facts. Control costs, win talent: Discover proven strategies for managing compensation costs while maintaining a competitive edge. Learn to optimize your budget without sacrificing employee satisfaction (Nirzari Sen, a C&B pro, will share her expertise!). Benchmark like a boss: Gain best practices for conducting effective compensation benchmarking across industries. Register for Pay2perQ's Total Rewards and Compensation Benchmarking Workshop today and we shall share details content with you! - https://lnkd.in/dWZvmkga You can also be a part of Learning groups : - Compensation and Benefits ( CNB Related): https://lnkd.in/e9q2JPHr - HR Jobseekers (Only HR jobs): https://lnkd.in/dqfwPbHM

Expect compensation increases to remain historically aggressive in 2024! 2023 saw the highest increase in salary budgets during the last 20 years and our clients are rightly remaining aggressive. According to a September Society for Human Resource Management article, top performers representing 26% of the professional workforce saw an additional 30% +/- compensation surge above mid-tier talent. Mercer's US Compensation Planning Survey also indicates that "employers are continuing to invest in compensation to combat prolonged tight labor markets." Our internal data aligns, and compensation ranges for recruiting assignments commenced in the fourth quarter signal that onboarding top talent in 2024 will continue to require a premium compared to pre-pandemic norms. Attribute this to high workforce participation despite a flattening economic growth curve. If there is a wage growth dip in 2024, it will not be meaningful. We can help our clients navigate compensation challenges via access to real-time industry-specific compensation data for the roles they seek to fill. If you're looking for additional compensation guidance as you prepare compensation budgets for 2024, please don't hesitate to reach out. We're happy to provide industry-specific insight to support your hiring journey. Steven Locke #hiringtrends #Frankpartnersagi #executivehiring #compensationtrends #recruiting

Employer Pay Compression Analysis: 5 Steps Step 1 – Determine area(s) of focus. Pay compression is when the pay of an employee is very close to or above (a) the pay of more experienced and higher performing employees in the same job title or (b) their first level supervisor. ·        Example: We pay our supervisors at least 10% above their highest paid direct report. Exceptions are made for the following reasons: insert text. Step 2 – Determine the executive summary needed at the completion of the analysis. Step 3 – Determine the fields needed in an Excel file to do the analysis. Pull the Excel data from your HRIS. Step 4 – Do the pay compression analysis needed to fill in the executive summary. Include a written list of observations, recommendations, and budget impact overall and by ELT member’s name. Step 5 - Additional Considerations: ·        How did you end up in this situation (root causes) given the pay compression found in the analysis? ·        What is needed to ensure this pay compression doesn’t happen in the future? ·        Do you need to establish minimum base salary as starting pay rates for certain supervisor job titles? Do you need a max for certain job titles? How does this impact the base pay range (pay grade) assigned to the jobs? ·        Who do you need to show this pay compression analysis to? CHRO, HRBPs, Comp, TA, ELT, etc. What is your ask of them? ·        How often do you recommend this pay compression analysis be done in the future? 1 x a year, after merit increases are planned but before they are implemented, etc.  https://lnkd.in/gTvvjP9h #paycompression #compensation #rewards #hr #humanresources #pay #fairpay #paytransparency #payequity

Expect compensation increases to remain historically aggressive in 2024. 2023 saw the highest increase in salary budgets during the last 20 years and our clients are rightly remaining aggressive. According to a September Society for Human Resource Management article, top performers representing 26% of the professional workforce saw an additional 30% +/- compensation surge above mid-tier talent. Mercer's US Compensation Planning Survey also indicates that "employers are continuing to invest in compensation to combat prolonged tight labor markets." Our internal data aligns, and compensation ranges for recruiting assignments commenced in the fourth quarter signal that onboarding top talent in 2024 will continue to require a premium compared to pre-pandemic norms. Attribute this to high workforce participation despite a flattening economic growth curve. If there is a wage growth dip in 2024, it will not be meaningful. We can help our clients navigate compensation challenges via access to real-time industry-specific compensation data for the roles they seek to fill. If you're looking for additional compensation guidance as you prepare compensation budgets for 2024, please don't hesitate to reach out. We're happy to provide industry-specific insight to support your hiring journey. Kasey Ewing #hiringtrends #Frankpartnerseoi #executivehiring #compensationtrends #recruiting

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