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By Larry Basinait
REPORT: CHRO Compensation and Fairness: What a Difference a Year Makes
A look at the projected 2021 forecast for key HR service market segments.
By Pete Tiliakos, Liz Rennie, and Nikki Edwards
Each year, NelsonHall takes a look at the activity of the HR services market to compile the top trends and predict a future outlook for the coming year. 2020 was a year like no other and COVID-19 has had a large impact on all business processes.
Strategies to maintain payroll and tax compliance now that employees are working anywhere, anytime.
By Matthew Blaker and Michael Van Den Brand
At the moment, the only thing certain about business is that nothing is certain. The impact of the COVID-19 pandemic has made it more challenging for businesses to understand what “normal” looks like. Uncertainty combined with the elevated need to protect the health and safety of the workforce has meant that flexible and remote working is a viable solution for many. However, it is not without its complications when it comes to HR, payroll, and business operations.
A new incentive programme was instrumental to driving business results and culture change at Gates Corporation.
By Michael Switow
When the Gates Corporation hired Rick Goh to be its HR director for East Asia and India four years ago, the Denver-based multinational organisation was undergoing a cultural transformation following its acquisition by the Blackstone Group two years earlier.
Reducing the gender pay gap remains an important business consideration, but organizations should watch out for red flags and red herrings when conducting their analyses.
By Allison Hoeinghaus
Recent headlines have been filled with issues related to pay equity, both in the U.S. and abroad. Many companies pay their employees without regard to gender, but issues at a small number of high-profile companies have cast scrutiny on this matter. Companies have begun to realize the steep yet oftentimes hidden costs of unequal pay.
Integrating global payroll and HR systems can lead to greater accuracy, better security, and lower costs.
By Judith Lamb
Ask the world’s leading global companies about their greatest asset, and most will respond with “our people.” At the same time, attracting and retaining top talent remains a top concern among executives, according to The Conference Board’s C-Suite Challenge 2019 research. That is why HR departments across the world are trying to enhance the employee experience at every turn. But in doing so, these teams are so focused on serving the day-to-day needs of the workforce that they occasionally overlook otherwise obvious opportunities to improve the function overall. Case in point: payroll.
New HRO Today research reveals interesting findings on the gender pay gap for CHROs.
By Elliot H. Clark
I hate to have to write this column. It is a confirmation that we at HRO Today can be very smart and very dumb—or perhaps just naïve. But, in either case, this is not a pleasant story to tell. A few months ago, we undertook a comprehensive report on CHRO compensation. We have written about it before. The initial premise of the study was to see if there was a correlation between CHRO compensation and a variety of business metrics. We examined the publicly available data on 88 of the Fortune 500 chief HR officers (18 percent of the sample group that meets the criteria for predictive statistical significance). We also interviewed 60 CHROs for the report. We segmented the data using the same methodology as the Fortune 50, Fortune 100, Fortune 200, and the full Fortune 500.
New research finds organizations are moving to cloud-based platforms for global and compliance capabilities.
By Pete Tiliakos
Payroll transformation has become a priority for many organizations, finds NelsonHall’s annual Next Generation Payroll Services study. Historically, payroll has long been treated as a simple cost center, and frankly, many payroll departments have gotten by with disparate and outdated—albeit reliable—platforms that lack global reporting capabilities and require burdensome manual processes. And in some cases, payroll has been overlooked when it comes to allocating funding to improve the operating model.
By Elliot H. Clark
I live in Philadelphia and I remember the media hullabaloo about the compensation paid to the baseball star Bryce Harper to join the local team. As one grave-faced sportscaster put it, “Well, there is a market value to talent—this franchise just got the bill.” I decided two things right at that moment: First was to never take market economics lessons from a guy who reads game scores for a living, and second was to see if the research team at HRO Today could figure out what drives the salaries for top executives in human resources. You will find the summary report in our upcoming second annual CHRO Today special edition (published with October), but I thought I would give you a few highlights.
We pulled the publicly available data on the Fortune 500 and found the CHRO compensation data on 88 senior-level HR executives from those companies. With a sample size of nearly 18 percent, we felt we had enough data to do a very valid market analysis. We split the market into the Fortune 50, the Fortune 100, Fortune 200, and Fortune 500 bands. We also looked at correlations to salary, total cash compensation, and total non-cash compensation (stock options and grants).
Implement these seven best practices to improve the quality and accuracy of the payroll process.
By Imran Sajid
It has always been important to pay employees in a timely and accurate manner. Being one day late or 99 percent accurate isn’t good enough. With the world more connected and impatient than ever before, it is critical for successful organizations to pay people accurately and on time. In the digital age, issues that previously stayed behind closed doors are visible for the entire world to read about, which can result in serious ramifications. The last thing HR professionals want is employees and former employees submitting Glassdoor reviews about how their organization consistently made mistakes on payday. The value of a brand is very significant and any loss of business reputation can be costly.
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