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How We Serve Clients with Base Pay and Market Benchmarking Services
At Total Reward Solutions, we find ways to help clients rise to employee compensation challenges in good times and bad. That’s one reason so many clients consider us their trusted partner for compensation solutions, year after year. Another reason is that we offer a...
read moreAfter the Coronavirus Pandemic Economic Crisis: What Will the Employment Market Look Like?
This changes everything! Or does it? In the midst of the Coronavirus pandemic, with U.S. and global economies in free fall, businesses are asking, “What will this do to the employment market as we navigate through and beyond this crisis?” It’s a reasonable question....
read moreEmployee Compensation During a Crisis: Cost-Saving and Loyalty-Building Ideas
It’s a challenging time. When a pandemic like the coronavirus outbreak leads to COVID-19 infections, serious illness and even death, we are all impacted. Lives change. At home and at work. Indeed, for many U.S. corporate workers, the home is the workplace now, and...
read moreCompensation Sense: Recruiting or Retaining Workers – Which is Better?
When employers need to maintain or add to their workforces, an age-old question emerges: Which is better -- recruiting or retaining workers? In other words, is it more cost-effective to keep your current talent pool versus accepting turnover as a fact of business and...
read moreCompensation Sense: Beyond the Debate – How to Benchmark Market-Correct Executive Compensation
It seems like executive compensation is always in the news, especially during national election cycles. The issue is controversial: Why are top corporate executives paid so much? Indeed, how much executive compensation is too much? How much is too little? Most...
read moreCompensation Sense: Ms. Monopoly Heightens Awareness of Gender Pay Gap
Gender pay inequality shows little sign of ending soon (the Women’s Policy Research group says it will take until 2059 before women earn as much as men for equal work), but the new Ms. Monopoly® game by Hasbro is at least bringing the issue into the spotlight. The...
read moreCompensation Sense: Market Pricing is Complex – Here’s How to Manage the Process
Market pricing is an essential component of any successful employee compensation and total rewards program. Unfortunately, market pricing is also complex and cumbersome, with many factors and moving parts. These parts include the processes of submitting salary survey...
read moreCompensation Sense: Why Your Base Pay Program is the Most Critical Compensation Component
When it comes to your organization’s compensation programs, none is more important than your base pay program. A base pay program provides structure and organizes your jobs so you can attract and retain talent. It establishes a baseline for merit pay, salary range...
read moreCompensation Sense: Tight Labor Market Brings Employee Compensation Challenges and Opportunities
While employee compensation challenges seem to be ever-present, those challenges can become even more daunting in a tight labor market. And when unemployment is at historically low levels, employers feel pressure to keep employees satisfied with competitive base pay...
read moreCompensation Sense: Looking Back and Looking Forward at Total Reward Solutions
It seems only natural from one year to the next to take a quick glance in the rearview mirror even as we focus on the road ahead. For me, personally, and the entire team at Total Reward Solutions, 2018 was a pivotal year in our escalating success. We accomplished...
read moreCompensation ROI Shows Employees are an Investment, not an Expense
Compensation ROI (the Return on Investment of your company’s compensation and total rewards policies, programs, and practices) is often misunderstood and underappreciated. In fact, most employers and Human Resources professionals tend to view employees as an expense –...
read moreCompensation Sense 101 is Here. New Book Provides Answers to Questions About Compensation and Total Rewards.
“Understanding how to use compensation and total rewards as a competitive advantage has never been more important!” This statement, from the Foreword by United Way of Central Indiana’s Chief Talent Officer Nancy Ahlrichs, helps explain why I wrote my new book:...
read moreCompensation Sense: Job Seekers Want Key Information … and Transparency
It may be no surprise that job seekers want essential information – including salary, benefits, and location – when they research job ads. What may be more surprising is that when assessing long-term potential with an organization, job seekers want transparency, too....
read moreEmployee retention demands merit increases, promotions
This article first appeared in Louisville Business First. Employee retention is essential to workforce stability and prudent compensation management regardless of labor market conditions. But when the labor market is tight in a robust economy – when employees are more...
read moreCompensation Sense: Employee Retention in Tight Labor Market Demands Merit Increases and Promotions
Employee retention is essential to workforce stability and prudent compensation management regardless of labor market conditions. But when the labor market is tight in a robust economy – when employees are more likely to look for better paying or more satisfying...
read moreAs ‘Quits’ Rise, Fair Pay Practices Become More Important
This article first appeared in Inside INdiana Business Call it a perfect storm: As employee "quits" reach high levels in a strong economy while gender pay equity issues come to the forefront, employers are finally getting serious about their fair pay practices. Here's...
read moreCompensation Sense: As “Quits” Rise, Fair Pay Practices Become More Important
Call it a perfect storm: As employee “quits” reach high levels in a strong economy while gender pay equity issues come to the forefront, employers are finally getting serious about their fair pay practices. Here’s how these factors are converging and what that...
read moreCompensation Sense: Entry-Level Wages Rise in Tight Labor Market
When demand for workers goes up (in a tight labor market due to low unemployment), entry-level wages rise. Perhaps that’s no surprise. What might be surprising, however, is that many employers are aggressively vying for workers by offering more than double the...
read moreCity salary increases pass first hurdle
This article first appeared in The Republic City officials have taken the first step to increase the pay of 11 city workers to the minimum level of a proposed new salary scale. Driving this plan is the city’s hope to be more competitive with other similar-sized...
read moreCompensation Sense: Why Compensation Communication is So Important in a Tight Labor Market
Compensation communication is too often an afterthought in many organizations. The resulting mystery surrounding compensation and total rewards can lead employees to perceive that your compensation practices are unfair, not industry-competitive, nor in their best...
read moreCompensation Sense: What is a Compensation Scorecard (and Why Does Your Company Need One)?
In business, keeping score is important (think earnings reports, balance sheets, market share, etc.) – and yet not many companies know what a compensation scorecard is, or why it matters. Simply put, a well-crafted and comprehensive compensation scorecard not only...
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