Compensation Planning for 2014

Compensation Planning for 2014


November 2013
Compensation Planning
 

SALE!!


For the month of December, the DBDescriptions job description writer is on sale!!

For December only, the annual subscription price will be $250, a savings of $45.

You can buy as many years and or as many subscriptions as you wish

For more info please go to the DBSquared web site or email for more information.   


 

New Release



We plan on releasing the latest version of DBCompensation, version 8, in December.

This version will include many new features

This upgrade will be automatic for our hosted customers.

For more info please go to the DBSquared web site or email for more information.  


 

Conference Plans


We currently are planning on attending two conferences in the near future:

Bruce Johanson will be at the AML Winter Conference at the John Q. Hammons campusin Rogers, AR on January 29th through the 31st.

Bruce Johanson will be at the AR SHRM State Conference In Fort Smith April 9th-11th.

For more info please go to the DBSquared web site or email for more information.  


Compensation Planning for 2014


This is a busy time of year for compensation and human resources professionals charged with making recommendations for compensation budgeting as part of the overall budgeting process for 2014. Most of the national, state and regional surveys are indicating an average 3% overall adjustment for pay inflation in 2014. The past two years along with the projected increase for 2014 are supporting a trending 3% pay increase average post the gradual climb from the 2008-09 recession. For companies and organizations that utilize merit pay evaluations, the budgeting range average is from 3.5% to 4%.

With our compensation client consulting plans for 2014, we're supporting the 3% overall adjustment to maintain market pay competitiveness unless the client's pay averages are behind the market mean. Recommendations for 4% to 5% increases in compensation budgets for 2014 are not uncommon for organizations that are 2% to 5% behind the market mean. The economy is improving and we are receiving more calls from existing clients and potential new clients about how they are losing "key/top performing" employees to competitors or other organizations who are willing to attract them with higher compensation. It is important to minimize turnover for higher compensation by keeping an eye on pay means/medians in the market and maintaining a compensation structure that is competitive with organizations within the recruitment market area.

We have updated several pay structures with employee pay quartile analyses during the past several months. For existing and new clients, we have appreciated hearing how the pay structure and employee pay within the range quartiles analysis is helpful with compensation budget planning, employee pay increase/promotion movement and pay equity analysis. The following table exhibit is produced by the DBCompensation system to help with compensation planning and budgeting. The names have been changed and table blurred to protect the innocent. :-)

    Compensation Planning

Social Media


Want to keep up with what is happening at DBSquared?

Please follow us through our social media:

Compensation Planning

Compensation Planning

Compensation Planning

Join Our Mailing List

DBSquared Team
FREE DEMO 
Contact us to schedule an online demo that will allow you to see the DBCompensation application.  We would be happy to answer any questions that you may have and to tell you more about our Total Solution.  
 
Please contact Blair or Bruce Johanson to schedule an online demo for you and your team.