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Understanding market data is a critical aspect for developing an effective compensation program. Unfortunately, no compensation benchmarking dataset is perfect. Every company must learn how to navigate using benchmarking data properly. But don't worry, we've built a guide to help you: ?? Understand how benchmarking datasets are created ?? What not to do when using benchmarking data ?? Best practices for using benchmarking data properly #compensation #hr #salarydata

Good news: Sharing Compensation Philosophies with employees is more common than ever before, but there is still work to be done. 65% of organizations surveyed by WTW share with employees how individual base pay is determined, which is important in improving employee retention. Curious how to ensure your Compensation Philosophy is strong and helping your organization retain and attract employees? Check out our 5 pillars to a successful compensation strategy:

Congrats to Ryan Powers, Dwight Scott SHRM-CP, Da'rrell Suha, MAOB, SHRM-CP, and the Oshi Health team on this amazing milestone! We look forward to supporting your continued growth.

??The Census Bureau reported that the US wage gap widened for the first time in 20 years ??. What changed, and what can HR leaders due to help reverse the trend? In 2023, Women made 83% of what Men earned, down 1 point from 84% in 2022. Given this, it's more important than ever to ensure your pay-for-performance approach balances internal pay equity goals. These two concepts can be at odds, but we've helped our customers balance both through two key strategies: 1. Implement performance-based bonuses with fixed salaries 2. Formulaic compensation bands, directly tied to performance Read more below about the balance between pay-equity and paying for performance #payequity #hr #compensation

Companies are anticipating promoting a higher percentage of employees this year, according to a study from Mercer ~10% of employees are expected to be promoted this year, up from 8% last year. 1% of salary expenditure is expected to be budgeted for these promotions While this may seem like an increase, keep in mind that some industries have thinned out their employee ranks, meaning a fewer number of people are actually getting promoted compared to last year.

People leaders, what are your predictions for how Amazon's return to five days in office will go? Comment below if you have a different prediction or want to elaborate on your perspective!

Employee retention is the most at-risk since 2015. A recent Gallup study found that just over 50% of US employees surveyed in May reported they were actively seeking, or on the lookout, for new roles. This is the highest reported level since 2015. What can be done to reduce this percentage at your company? You guessed it, more attractive compensation packages! Over 30% of respondents highlighted that additional compensation or benefits would prevent them from looking to exit.

CompGrid Biotech’s compensation benchmarks are now live! Focused on early-stage Life Sciences companies, CompGrid’s inaugural dataset represents a differentiated sample of the Biotech private & public market. But we’re just getting started. Want to participate in CompGrid and access the data? Sign up for free below. #biotech #hr #compensation

?? Calling all Biotech & Life Sciences leaders in the Boston area! ?? Join CompGrid's Zachary Esrig and the Danforth Advisors team for a live discussion about Pay Tranparency in Massachusetts (Wed Sept 11 @ 5pm) ?? Sign-up at the link in the comments. We'll see you there!

We're excited to partner with BambooHR and be on their marketplace! #compensation #hris #hr #hrtech