2014 Compensation Best Practices Report

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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.

Transcript of 2014 Compensation Best Practices Report

14,000 Positions 3000 Customers 11 Countries

250 Compensable Factors

40 Million Salary Profiles

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