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Tips for Developing a Powerful Compensation Philosophy

HRsoft

A compensation philosophy aims to ensure pay is market-competitive and aligned to the business strategy. To support these two factors, there are six components, or goals, of compensation philosophy: Attract top talent from the market. Keep in mind that compensation data may need to be reviewed outside of your specific niche.

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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? What is a compensation package? Not all compensation packages are created equally.

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7 reasons why you should include a salary range in your job postings

Social Talent

According to SHRM , when looking at a job posting, compensation and benefits are the primary things that most candidates are looking for. Concealing compensation from candidates is all smokescreen – in the end, every potential employee has to be offered something. The benefits may far outweigh the shortcomings… .

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Tips for Developing a Powerful Compensation Philosophy

HRsoft

A compensation philosophy aims to ensure pay is market-competitive and aligned to the business strategy. To support these two factors, there are six components, or goals, of compensation philosophy: Attract top talent from the market. Keep in mind that compensation data may need to be reviewed outside of your specific niche.

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The New Wave of Compensation Surveys: Addressing the Gender Pay Gap

HRsoft

For decades, compensation surveys have been the leading source where employers could go to learn about pay dynamics in the marketplace. This is likely due to the fact that our business landscape is characterized by a culture of legal risk aversion. Now, at least four compensation survey firms are collecting gender data in the U.S.,

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How to Build a Diverse Recruiting Strategy

Social Talent

Develop a consistent interview process : Predetermined questions and evaluation criteria allow for an equitable comparison of candidates and reduce the influence of unconscious biases. Implement transparent and objective criteria for performance evaluations, promotions, and compensation decisions.

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The pros and cons of posting salary ranges

Leoforce

Research shows that compensation is one of the first things job seekers look at when deciding whether to apply for a position or not. Another common reason employers might choose not to disclose salary ranges is to prevent their current employees from discovering what new hires will be earning (in comparison to their own pay).