With unemployment at 3.9%, the challenge to attract and retain talented staff is growing. JER HR Group addresses the importance of strategic compensation plans in a new white paper, Tips, Traps and Trends: How to Attract Talent with an Effective Compensation Plan.
JER HR Group has released TIPS, TRAPS AND TRENDS: How to Attract Talent with an Effective Compensation Plan to help not-for-profit organizations strike an appropriate balance in establishing a compensation program that supports an organization’s ability to attract, retain and engage talented staff and demonstrate prudent fiscal stewardship.
Employee compensation represents a significant portion of any business’s operating expenses and, in not-for-profit organizations; there can be a high degree of scrutiny by donors, regulatory agencies, and the press. The portion of the budget that is allocated to salaries, if not directly program-related, can affect a public charity’s standing and ability to attract funding.
“Aligning the compensation strategy with your organization’s culture and values is key,” says James Rocco, JER HR Group founder and Managing Consultant. “The goal is to maintain internal equity and market competitiveness and ensure that pay practices comply with federal, state and local laws and regulations.”
As the workforce changes and the systems and processes by which work activities are carried out evolve, the various components of a compensation program also evolve. Supply and demand in the labor pool, especially in positions that affect the ability of a not-for-profit organization to raise funds, may be particularly affected. Executive leadership must understand the dynamics involved in planning, implementing and administering an effective compensation program, and assure that the necessary resources are allocated.
JER HR Group, a national human resource firm serving customers since 1990, recently acquired Training Network, a provider of health and safety training programs to companies of all sizes and sectors. With more than 900 programs on over 80 topics, the combined companies have expanded their ability to help employees stay safe and in compliance with the latest OSHA and industry regulations.
JER HR Group is a leading human resource firm headquartered in New York City serving clients throughout America. JER HR Group helps companies large and small recruit, retain and develop a valuable resource—people.
JER HR Group Releases How to Attract Talent with an Effective Compensation Plan
Source: HR.com Articles