As an HR professional its imperative to keep an eye on compensation management trends as you strategize and prepare for each new cycle. So far, 2020 has seen significant disruptions to normal business operations that few anticipated. For many, it has meant reprioritizing and taking a new perspective on compensation. Here are a few of the leading trends shaping the …
As SaaS (software as a service) and cloud technology become more commonplace in Compensation Management, it’s important for companies to understand how the cloud can bring security, transparency and increased focus to their organization. With an increasing trend towards a remote workforce, the importance of the cloud and SaaS Compensation Management will continue to grow over time. Pros of …
COVID-19 is unlike anything we have seen before, its effect on society and our future is growing exponentially. Businesses are facing many difficult decisions in the weeks and months ahead. When you take a step back and examine the impact of COVID-19 from a wider lens, you will notice that we have faced similar periods of uncertainty before. Most recently, …
The COVID-19 pandemic’s impact on our daily lives has been unprecedented. Organizations are scrambling to realign their businesses to adapt to the challenges of a global pandemic. For those companies with incentive compensation, employees and managers are already speculating how the virus will affect their upcoming bonus cycle. Now is the time to start looking at how you can adjust …
Although most people go to work in order to earn money, they can be surprisingly passive when it comes to performance-based compensation. Of course, the companies they work for are partially to blame for this. Unless objectives and progress are visible and transparent, the journey toward betterment can be vague for all the parties involved. Fortunately, digital platforms are here …
A few weeks ago I came across an article that profiled a well-known entrepreneur – they were quoted as saying “The great thing about entrepreneurship is that you only have to be right once.” The essence of the article was that you can have many failures, but if you hit it big that one time, it will be all worth …
There’s no question about it: The digitization of the marketplace is in full swing. Those working in retail are bound to feel the sting most sharply, as digital platforms attempt to cannibalize their sales. Fortunately, it’s possible for companies to use certain technological advances to their advantage—and to the benefit of their employees. 88% of chief HR officers say they …
Perry Doody, CompTrak Chief Product Officer and Co-Founder One of the things I really enjoy in my spare time is taking on Do-It-Yourself projects. A few years back, my family and I purchased a cottage and it has given me the opportunity to try and learn new DIY skills like building a treehouse and renovating the kitchen. If I have learned anything …
Spotlight: Mahdi Khandaker – CompTrak’s Fall Co-op By: Bella Chow I recently made the jump to a start-up. Before that, I built my career working primarily in large financial institutions. My prior roles included managing co-op programs where there would be upwards of 125 co-ops in a work term. These programs were highly structured, offering students exposure to different individuals …
When it comes to compensation management, we all hate the idea of being buried in piles of paperwork, wasting our time producing reports, staring at spreadsheets and being trapped in an endless cycle of overprocessing and errors. Acting as a lifeline to hold on to in the rough waters of HR management, businesses can alternatively choose to hop on board …