Why Hire a Compensation Consultant?
Compensation consultants help make HR a better business partner to their company as they drive the total employee reward proposition, limiting unnecessary turnover, and demonstrating how pay compares to the market rate for better business decisions.Nice Workers Can Finish Last
Small to medium-sized financial institutions are typically employee-centric and deeply committed to fostering a positive work culture that values collaboration, empathy, and kindness. Their core values align with the belief that a friendly and supportive environment enhances employee well-being and strengthens customer relationships. However, this can make addressing the delicate balance between niceness and performance challenging.The AI Revolution
As AI reshapes the financial services industry, banks and credit unions must adapt to remain competitive. The transformation of compensable factors and job duties is inevitable.2024 Bank & Credit Union Employee Salaries
The Great Resignation era was unofficially declared over in the Summer of 2023. This year shows dynamic shifts and settling to these recently turbulent labor market conditions.Quiet Quitting: The Silent Retention Killer for HR
HR departments and line managers are feeling the growing pressures of supplying adequate work accommodations and effective ways to track performance.Leading with Empathy: Navigating the Delicate Conversation About Salary Limits
One of the most challenging conversations you may encounter is explaining to employees that their current salary level exceeds the maximum of the pay range, making them ineligible for a salary increase.Navigating Bonus Disappointment: A Guide for Senior Managers
Most senior managers at financial institutions are accustomed to receiving an annual bonus to recognize the hard work and dedication.30 Fastest-Growing Salaries for Financial Institutions in 2024
A 3.5% midpoint shift in 2024 salary ranges limits differentiation for high performance and adjusting salaries below market rate.The Definitive Merit Increase Matrix for 2024
High pay raises and a stressed talent market are priming 2023 to continue driving employee compensation even higher next year—a reality that puts added pressure on HR professionals to get their salary budgets right even as companies struggle in the current interest rate environment. Prev
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