April is Stress Awareness Month. Let SHRM make your work life easier: Join Now
Shawn Premer shows how doing the right thing for employees leads to positive business results.
Is your employee handbook keeping up with the changing world of work? With SHRM's Employee Handbook Builder get peace of mind that your handbook is up-to-date.
Build competencies, establish credibility and advance your career—while earning PDCs—at SHRM Seminars in 12 cities across the U.S. this spring.
#SHRM18 will expand your perspective – on your organization, on your career, and on the way you approach HR. Join us in Chicago June 17-20, 2018
A year-end look at some of our most-read items about pay practices
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
From salary budget forecasts to the rise of ratingsless reviews, these six articles on pay topics were some of the most-read all year on SHRM Online. They describe developments and trends that will have a continuing impact in 2017:
Salary Budget Expected to Rise 3% in 2017Despite some signs of labor market tightening, compensation managers expect their base pay budgets for next year to increase by only about 3 percent, little changed from the past two years. But keep an eye out for faster—or slower—than expected economic growth, which could alter these predictions.
Study: Beware 'Toxic' Influence of Low-PerformersOrganizations are falling short when it comes to rewarding and retaining high-performing employees—those who are self-motivated and hardworking. Worse, companies that don't deal with "toxic" low-performers risk weakening their culture and driving away their best people.
Undoing Overtime Pay Changes Could Be TrickySome workers welcome being paid for overtime hours worked; others felt demoted when told that they would be paid hourly. For employees who like their change to nonexempt status, it might be worthwhile to keep it in place, even though the Department of Labor's new overtime rule raising the salary limit has been put on hold. But if employees felt demeaned by being reclassified as nonexempt, consider reverting them back to exempt status, an employee relations expert advised.
[SHRM members-only toolkit: Building a Market-Based Pay Structure from Scratch]
Big Companies Are Raising Wages for Lower EarnersFacing labor cost hurdles, companies are trying to figure out how to stay competitive without busting their pay budgets. On the other hand, nobody wants to be the company that's the last to raise its rates and risks losing its good talent.
Employers Seek Better Approaches to Pay for PerformanceDespite embracing the concept of pay for performance, a surprisingly large number of employers say their programs aren't doing what they were designed to do: drive and reward individual performance. That's leading organizations to adjust both their merit pay and annual bonus tactics.
Ratingless Reviews Positively Affect Pay PracticesAs more employers abandon annual scale-based employee ratings, many are turning to ratingless appraisals to evaluate and reward employees—focusing on performance and consequences, not rankings or grades.
Was this article useful? SHRM offers thousands of tools, templates and other exclusive member benefits, including compliance updates, sample policies, HR expert advice, education discounts, a growing online member community and much more. Join/Renew Now and let SHRM help you work smarter.
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Please sign in as a SHRM member before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
SHRM Annual Conference & Exposition
SHRM’s HR Vendor Directory contains over 3,200 companies