This article shares important tips and outlines the process organizations should take when considering the transition to a pay for performance model: including pay design in the performance evaluation system.
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When conducting a total compensation study, one of the major issues to resolve is which labor market to use. This article helps to define criteria to assess whether organizations are comparable.
Most organizations struggle with the tough issue of pay compression. Although no one resolves the issue permanently, this article covers different salary management practices that can help to reduce the negative effects of pay compression.
When determining the pay grade of a job, organizations commonly struggle with the balance of internal equity and external parity. This article shares ideas including compromising to achieve an internally equitable and market competitive pay structure.
In this CompDoctor article, Jim Fox and Bruce Lawson answer the following question about defining minimum qualifications in job descriptions: As requested by HR, I recently filled out a position questionnaire for my job that asked me to state my thoughts regarding the necessary qualifications to do my job. Although I indicated that a college degree (which I worked hard to obtain myself) is necessary, the updated job description that was eventually posted indicated that only a high school diploma is the minimum qualification. Why is the job description for my job dumbed down in terms of required education.
In late 2016, the DOL issued final rules updating existing ERISA claims and appeals procedures for employee benefit plans providing disability benefits. The final rules apply to all claims for disability benefits filed on or after January 18, 2018.
Commercial Crime insurance renewal premiums were “stable” (+/- a few percentage points) in the first three quarters of 2016. Internal distractions within two of our top-ten fidelity insurers (the Ace/Chubb merger and AIG’s fidelity restructuring) diminished the level of competition in 2016, and we expect this to continue into 2017.
With a relatively static – albeit heightened – claims environment and a corresponding pipeline of open claims, many insurers are seeking rate increases for Employment Practices Liability (EPL) insurance coverage. However, newer entrants into the market over the past three to five years have led to a stable market.
Consolidation of independent broker-dealer firms and preparation for the “Fiduciary Rule” are two pressing issues impacting the retail investment industry. Last year, the retail investment industry experienced major change.
Financial Institution Bond insurance renewal premiums fell within a “stable” range (+/- a few percentage points) in 2016. Internal distractions within three of our top-ten financial fidelity insurers (Ace/Chubb merger, AIG’s fidelity restructuring and Zurich’s diversified financial restructuring) diminished the level of competition in 2016, and we expect this lackluster competition to continue into 2017.