Category: Compensation

Shifting Compensation Costs
Jul 20, 2022
Shifting Compensation Costs in the Los Angeles Metropolitan Area: An Overview

Workers for private companies in the Los Angeles Metropolitan Area saw wage increases for a 12-month period ending March 2022. This increase was reported by the Bureau of Labor Statistics (BLS), a division of the U.S. Department of Labor. The 5.2 percent compensation gain overshadows the previous year’s report of a 4.2 percent increase in […]

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New Faculty Compensation Model
Jul 13, 2022
Introducing a New Model for Faculty Compensation

Schools are facing a metamorphosis in the fallout of the pandemic involving teacher pay. Innovative schools have led the way toward a new faculty compensation model. Here’s a look at how Graland Country Day School in Denver, Colorado, has pioneered a new model that improves the education system for teachers and students. Need to Update […]

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Compensation and Benefits
Apr 13, 2022
6 Ways to Win and Retain the Best Employees with Compensation

In today’s job market, it isn’t easy to find and retain great candidates. Moreover, the quit rate levels remain high as employees seek better prospects. Also, as the American population ages, the labor force participation rate is declining. Therefore, to acquire and retain the best talent, you need an effective talent acquisition strategy. Benefits and […]

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Best Practices for Sustainable Employee Salary Increases
Mar 10, 2022
Best Practices for Sustainable Employee Salary Increases

While pay hikes make for loyal employees, they can affect your bottom line. So, which compensation components should you increase or add (and how often) to keep your team happy and remain profitable? Here are some practical suggestions for small business owners. Select the Right Compensation Mix Choose a compensation mix to offer your employees […]

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3 Reasons to Conduct Compensation Studies in Higher Education
Feb 10, 2022
3 Reasons to Conduct Compensation Studies in Higher Education

No industry is immune to the ill effects of poor remuneration, including higher education. Compensation studies can help you retain and attract highly talented faculty members in an employee-driven labor market. They can provide valuable insights on the market value of each position and benchmark salary ranges. By compiling a compensation best practices report every […]

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How to Prepare for Rising Minimum Wages & Pay Compression
Dec 08, 2021
Evaluating the Impact of Faculty Compensation Systems on the Quality of Higher Education

A 2017 Bureau of Labor Statistics (BLS) report revealed that increased compensation helps improve employee productivity. This is true even for higher education faculty. Unfortunately, institutions of higher learning have little to no control over the availability of funds to compensate their faculties appropriately. Other than the higher education stakeholders who determine the availability of […]

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Nonprofit Compensation Between 2015 and 2019: How Things Have Changed
Nov 10, 2021
Nonprofit Compensation Between 2015 and 2019: How Things Have Changed

According to a 2021 report by Candid (based on tax filings for over 100,000 nonprofits in 2019), salaries for chief executive officers (CEOs) and executive directors (EDs) in the charitable sector increased steadily between 2015 and 2019. When it comes to nonprofits, executive compensation isn’t just about attracting top talent; it’s also a compliance issue. […]

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