How important is compensation management in motivating your workforce? It is one of the top five job-satisfaction factors. Learn how to reward employees and yet hold steady on payroll costs in this complimentary SuccessFactors white paper.
How important is effective compensation management in terms of motivating your workforce? Plenty. Compensation has consistently remained one of the top five job-satisfaction factors considered most important to employees.
Prior to using PayScale, each customer set compensation ranges through a mix of gut feel and resource-heavy compensation data management. Resource constraints lengthened compensation review cycles that resulted in either abbreviated cycles or multiyear review gaps. Incomplete compensation reviews and poor data quality led to more compensationrelated issues with current employees and prospective recruits: longer recruitment cycle times, higher recruiting costs, reduced employee satisfaction, and increased turnover.