money stack

Getting Started with Compensation and Benefits

This is one of those topics that is part philosophy, part market and part legal.  As always, the legal parameters will set the minimums for what you must offer, for example minimum wage and minimum benefits.  The market will define how far you might need to deviate from the law to be successful [in your market], and your philosophy will guide you on how far your variance from market will be. As for legal minimums, things change so you need to [...]


Benchmark Your Company’s Average Annual Salary, Health Care Cost, and More with SizeUp

If you missed the feature article on SizeUp, you missed a great tool for benchmarking and comparing your business to others in the industry. While people love to use SizeUp to benchmark sales and identify competitors and suppliers, it is also a very useful tool for benchmarking areas such as salaries, health care cost, and cost effectiveness. These areas are all covered in the full 15 minute SizeUp tutorial video (at very bottom of this post) or you can just go to the [...]

Pay as a Hygiene Factor… an Explanation

On the main "Compensation and Benefits" landing page, pay is described as a hygiene factor that has more of an effect on job dissatisfaction than it does on motivation and job satisfaction. Only seems appropriate that this statement, and the referenced two factor theory, get a little more time and explanation. The two-factor theory is based on the work of a Pittsburgh, PA psychologist named Frederick Herzberg.  While his work was extensive, a large part of it included employee interviews where he asked [...]