4 Ways To Overcome Challenges When Creating Your Compensation Plan

Whether it be the rising cost of insurance or revenue shortages in the wake of the COVID-19 pandemic, creating compensation plans is more challenging than ever in 2021. However, as employee compensation is an important component of figuring out how to value a business, innovative strategies must be used to overcome these obstacles. The four ideas listed below are great ways to overcome challenges and create compensation plans that will attract and retain employees.

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Is Your Trustee Client Being Paid Fairly?

Compensation for trustees, who are charged with managing a trust, is often a pretty straightforward percentage calculation based on state guidelines. Consult the terms and the size of the trust, and calculate the trustee fees.

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From Fun to Frantic: How the Head of People/ HR is Set Up to Fail

Any successful pre-IPO company knows that a good head of HR is worth their weight in gold. Getting someone who has strong expertise in leadership, recruiting, talent management, programs management all while fostering culture and fun should be a number one priority for any pre-IPO company wanting to get off the ground.

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Why ESOPs Matter for Private Companies

Ever heard of an ESOP? I’m not surprised if this is a new concept for you. Employee Stock Ownership Plans (ESOPs) are a little-known secret when it comes to benefits and incentives for driving performance in a private company.

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Executive Compensation: How to Avoid Sabotaging Success

I’ve got a message for small to mid-sized businesses out there: your executive pay is all wrong.

Granted, most would think that executive pay is not a big problem, since it is high and on the rise. But while that may be true for larger companies, that’s not always the case for small to mid-sized businesses, and yes, it’s a problem!

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HR Alert: Jennifer Lawrence and the Fair Pay Act

You’re probably familiar with the image of actress Jennifer Lawrence as Katniss Everdeen, heroine of the Hunger Games: bow and arrow pulled back, ready to fight.

Would you be ready to take her on?

Lawrence adopted that same fighting spirit off-screen late last year after finding out through leaked emails that she was paid less than her male co-stars in American Hustle.

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Three Reasons Why Your Job Levels Are Wrong

Successful companies that grow quickly in a short period of time seem to be doing everything right—they have profits, plans for growth, and a competitive edge. But rapid growth almost always creates a critical weakness for companies: job levels and titles get skewed.

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