If you aren’t compensating your employees properly, you won’t compete in today’s global market. You won’t retain employees, and business will suffer. But how do you determine a competitive and fair pay structure?
In this interview with James Green from ActualTech Media, our CEO Michael Pires talks about how salary data is the “crown jewel” of company data. But for most companies, the process of determining compensation is “fragmented and broken.”
The latest compensation news, trends, whitepapers, and insights.
Performance and compensation are managed as two separate systems, run by two different teams, on two different calendars. Employees don’t see any of that. They see one question: did my work change my pay? When the answer is unclear, the entire performance cycle starts to look like ceremony, and the merit budget behind it gets spread further from where it was actually meant to go.
Most companies still run performance management the way they did twenty years ago. Managers write annual reviews, ratings go into
Performance and compensation are managed as two separate systems, run by two different teams, on two different calendars. Employees don’t see any of that. They see one question: did my work change my pay? When the answer is unclear, the entire performance cycle starts to look like ceremony, and the merit budget behind it gets spread further from where it was actually meant to go.
