2014 Compensation Best Practices Report

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Information about 2014 Compensation Best Practices Report

Published on February 21, 2014

Author: Payscale

Source: slideshare.net

Description

This year’s Compensation Best Practices Report reveals that talent management is becoming strategically important for businesses trying to realize growth in today’s more competitive economy.

Join PayScale as we discuss the latest findings from the 2014 Compensation Best Practice Report.

14,000 Positions 3000 Customers 11 Countries 40 Million Salary Profiles 250 Compensable Factors

We surveyed 4,700+ companies about… • Economic climate • Compensation practices • Business practices

Key Findings Companies have big plans for 2014: • Workforce expansion • Better financial performance • Raises But, they have big concerns about: • Retention • The skills gap • Lack of good salary data

More Learnings

What do you think you should be called?

Performance Matters in 2014 • 54% gave performance-based pay increases • Incentive-based bonuses were the most common type of bonus • Information, Media and Telecommunications was most likely to give incentive bonuses (71%) • 93% conduct performance reviews

Impact of government Affordable Care Act • 84% expect no staffing changes from the ACA • 5% cutting back hours • 8% will hire fewer full time workers Fair Minimum Wage Act • 40% are in favor of $10.10 • 30% against • 30% unsure

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