There is a sea of change coming in the way that employers approach pay, as many companies are examining and modernizing their compensation philosophy in an effort to build more trusting relationships with their employees. PayScale’s 2017 Compensation Best Practices Report
examines the relationship between pay practices and business results.The survey results show that organizations are starting to do things a bit differently when it comes to pay. It used to be that employers held all the cards when it came to compensation. Executives would set pay for employees and determine the size of a raise, and then employees would be told about any potential pay adjustments once per year (usually at the end of an annual review).
Workers are feeling good about jobs, but does that translate to economic growth?
Worker confidence continued its upward trend in the fourth quarter of 2016. The Worker Confidence Index (WCI) from HRO Today and Yoh Recruitment Process Outsourcing reports an increase to its highest level since study inception, up 4.6 points to 104.5 in the fourth quarter and up 10.3 points for the year. All components of the WCI were up in 2016—with job confidence, likelihood of a raise, and trust in leadership all up more than 10 points
The consistent increase in the WCI throughout the year suggests optimism about employee’s faith in their employment situation, and job security confidence throughout the year corresponds with the U.S. unemployment rate drop to 4.7 percent. Job security has remained relatively consistent over the past year.
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By The Editors
HRO Today's Baker’s Dozen rankings are based solely on feedback from buyers of the rated services; the ratings are not based on the opinion of the HRO Today staff. We collect feedback annually through an online survey, which we distribute both directly to buyers through our own mailing lists and indirectly by sending service providers the link to send to their clients.
Once collected, response data are loaded into the HRO Today database for analysis to score each provider that has a statistically significant sample. For this survey, we required 10 responses from 8 companies. We reached out to more than 35 providers of relocation services.
In order to determine an overall ranking, we analyze results across three subcategories: features breadth, deal sizes, and quality. Using a predetermined algorithm that weighs questions and categories based on importance, we calculate scores in all three subcategories as well as an overall score. The rankings are based on those scores.
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Organizations can expect costly fines—or worse—if they don’t follow the ever-changing rules of relocation compliance.
By Russ Banham
At the end of the last century, globalization resulted in an extraordinary uptick in the volume of employees on assignment abroad and the length of their stays. The tax, legal, and immigration rules limiting the duration of these assignments were different but difficult to enforce given the mass of assignees and their ebb and flow. Those days are long gone.
Most countries today are stringently policing their rules and harshly penalizing companies for non-compliance. Stay too long in a country and risk a stiff fine or worse—incarceration and the permanent barring of the employee to conduct business in the country.
The constantly shifting landscape of regulations across the world makes compliance even more problematic."Privacy, visa, and tax regulations are forever in flux, putting the onus on companies to stay on top of these changes," says John Fernandez, executive vice president at relocations services providerContinue reading →
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