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Pay Transformation and Remote Work

June 24, 2021  |   Remote Work,Uncategorized   |     |   Comments Off on Pay Transformation and Remote Work

There is no doubt in anyone’s mind that the Coronavirus Pandemic has caused major shifts in work-life patterns. According to Upwork, 42% of the American workforce is working remotely. But, by 2025, 22% of the workforce will still be working remotely -- a 37% increase from the number of remote workers prior to the pandemic. Remote work does work for companies. A Gartner Survey found that 80% of company ...

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Setting Up a Manager’s Guide to Performance and Rewards

March 11, 2021  |   Compensation,Performance Management,Uncategorized   |     |   Comments Off on Setting Up a Manager’s Guide to Performance and Rewards

It’s important for companies to have a guide to compensation for their managers and employees. They need to have a framework so they are effectively spending compensation dollars. A company should want to foster fair and consistent pay decisions through the use of compensation tools and performance processes, ultimately to link total pay with both individual and the business's performance. It’s also equally important that employees have ...

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Variable Compensation Cost of Sales

December 16, 2020  |   Compensation,Uncategorized   |     |   Comments Off on Variable Compensation Cost of Sales

Variable compensation cost of sales (VCCOS) illustrates an organization's variable compensation costs as a percentage of sales. Many organizations search for the market benchmark. The challenge is every company is different. Here are some of the factors that prevent you from using a market benchmark: Pay Mix Variation – Not all companies have the same mix of pay between base salary and incentive compensation. It’s not appropriate to compare ...

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2021 Compensation Strategy Benchmarking

September 29, 2020  |   Compensation,Uncategorized   |     |   Comments Off on 2021 Compensation Strategy Benchmarking

According to a recent Willis Towers Watson Salary planning survey during the pandemic, one-third of companies halted their salary increases through freezing or postponement, while the rest implemented salary adjustments that on average are 0.6% lower than the pre-crisis level. As the world steadily moves towards restoring stability, many organizations are relying on extreme cautiousness and cost-saving strategies to navigate through the rest of 2020 and to create ...

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Spotlight on Benefits for Remote Employees

June 09, 2020  |   Employee Benefits,Uncategorized   |     |   Comments Off on Spotlight on Benefits for Remote Employees

As companies navigate the current pandemic environment, one challenge at the forefront for many is engaging a remote workforce. The shift to remote work will not be a temporary one — it is almost certain that many companies will transition permanently to a more remote workforce post-pandemic. Given this shift, companies need to take a closer look at every aspect of their HR programs and policies — from talent acquisition, ...

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