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What is a Good Compensation Package? How to Decode Salary, Benefits, & Perks

Zengig

While the role itself, company culture, and growth opportunities matter, compensation is, for many, the most important of all. So, what exactly is a good compensation package, and why should you care? Throughout this article, we will break down its components, including salary, benefits, and perks.

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Understanding the FARM Components of Compensation

Recruiting Daily Advisor

Have you heard of the acronym FARM as it relates to compensation? I first heard this term from a BLR ® webinar run by Paul Dorf, the Managing Director of Compensation Resources, Inc. Source: Andrii Yalanskyi / shutterstock. The point here is that compensation can be used to incentivize employees to focus on specific things.

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The Evolving Role of AI in Benefits Administration

Recruiting Daily Advisor

This keeps HR teams on their toes, especially when it comes to benefits. Let’s explore three key opportunities where AI can improve benefits administration and identify potential risks associated with its implementation. AI-driven solutions are transforming how organizations engage with employees regarding benefits.

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Top 10 Strategies for Sourcing Highly-Qualified IT and Engineering Candidates

Contract Recruiter

To address this challenge, we’ve compiled a list of the top 10 strategies for sourcing highly-qualified IT and engineering candidates. Employers often struggle to find the right candidates for their open roles, which can hinder their overall growth. Let’s dive in! This will increase the chances of attracting highly-qualified candidates.

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The pros and cons of posting salary ranges

Leoforce

Colorado : The Colorado Equal Pay for Equal Work Act requires employers to disclose the pay range and benefits for every job posting. Research shows that compensation is one of the first things job seekers look at when deciding whether to apply for a position or not. The benefits of posting salary ranges in recruiting.

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Is salary important to workers? Bet your bottom dollar it is

Workable

The only real ‘surprise’, if there’s one, is that other studies show a growth in value placed on job attractors besides compensation – such as the willingness to take less salary in order to remain remote according to a TeamBlind survey , and the value of perks over salary as a motivator according to Staples. Is salary important?

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The 5 Best Voluntary Benefits to Offer Your Employees

Recruiting Daily Advisor

Source: garagestock / shutterstock. Employee benefits. With so much value tied to benefits, employers that go beyond standard perks and offer relevant voluntary benefits to employees create an environment that builds up and cares for its workforce. 5: Student Loan Benefits. What’s the solution?

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