In HR and People teams, the Chief Talent Officer’s role is managing an organization’s internal and external talent acquisition and retention. It’s typically a high-profile role, working closely with the organization’s leadership team. The aim is to create top-performing teams of talented workers who will drive company growth and success. The war for talent is
To adapt readily to change in the workplace, employees need to be flexible and open-minded, while employers have a responsibility to support employees through workplace change. The HR or People team has a particular responsibility to lead and support employees through changes of all kinds in their organization. HR and People can lead change in
To be creative in HR, you need to think beyond traditional administrative and management functions and processes and focus on people’s potential. The role of HR is being rewritten in today’s workplaces: there are many opportunities for HR creativity and innovation in recruitment, talent management, culture and values and the design of everyday working practices.
A compensation management system is a technology tool that manages salaries, bonuses and benefits for an employer. It uses defined and automated processes and central data storage to do this efficiently and consistently, so that compensation is fair, competitive, effective and properly administered. Good compensation management maintains workforce loyalty and satisfaction – poor compensation management
The different types of compensation are direct and indirect, including all of the payments, rewards and benefits that an employee may receive from their employer. Compensation is an umbrella term for all the different elements offered, according to the organization’s policies. Payroll and compensation management is an important HR function. Direct compensation tends to be
Compensation management means the specialist HR discipline of planning and administering everything of financial value that an employer gives an employee in exchange for their work. It includes their salary but also benefits, bonuses and rewards. The compensation package is a key factor in employees’ decisions to join or remain with an employer, so compensation
Stock options as compensation means when an employer offers employees stock options (or share options – they mean the same thing) that have no value at the time, but which could be worth a lot in the future. Options mean the employee will have the right to purchase a certain number of shares at today’s
A competency assessment is an evaluation of a person’s skills and abilities. Employers use competency assessments to map an employee’s existing capabilities against the capabilities the employee needs to carry out their role. Competency assessments are also used in recruitment, to determine whether a candidate has the right skills for a job. They can be