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Tim Low SVP Marketing
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15,000 Positions 3500 Customers 11 Countries
250 Compensable Factors54 Million Salary Profiles
15,000 Positions 3500 Customers 11 Countries
250 Compensable Factors54 Million Salary Profiles
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7,600 Respondents
11%
15%
8%
5%
11%11%
8%
31%
Business Engineering & Science, Technology
Retail & Customer Service Education
Manufacturing Medical & Healthcare
Nonprofit Other
45%
35%
20%
Less than 100 Employees100-1,000 EmployeesMore than 1,000 Employees
22%
51%
12%
15%
Individual Contributor
Manager
Vice President
C-Level
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Meet the ComptopiansThis year, we compared compensation practices of top performers with all other companies. Top performers are defined as being market leaders who exceeded their revenue goals in 2015.
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What do top performers do better?
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Insights from the 2016
Compensation Best Practices
Report
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The future is bright71% of companies expect their financial situation to improve in 2016.Big companies are getting bigger while the small grow less rapidly.
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Fair Pay Matters
While 73% of employers consider their
employees fairly paid, only 36% of employees* feel they are paid fairly.
*Data from a separate PayScale Report which surveyed 71,000 employees.
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Bridge the Comp Chasm
The data uncovers a vast chasm between employer and employee perceptions.
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Retention linked to compFor the fifth year in a row, compensation, aka “seeking higher pay elsewhere,” was a top reason employees left companies.
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Transparency wins
Nearly 40% of companies report that they have transparent, open communication around pay
82% of employees who are paid low to market are ok with it when the employer shares the rationale
Morale of the story: Want them to stay? Talk about pay.
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Pay your people right: it’s not rocket science90% of top performing companies gave increases in 2015
Nearly half of all top performing companies who give bonuses are increasing the size of their bonus budget in the coming year
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Use Variable PayIt’s actually not all about that base.
Top performing companies offer a more creative mix• Incentive plans• Discretionary bonuses• Stock options• Learning & development• Perks like catered lunches and gym memberships (and in
some cases: 13 month pay, Chinese food on pay day, and yearly training at the company castle )
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End of the Data DebateMore than half of companies reported being open to both employer-submitted data and employee submitted data, as long as the data is accurate and fresh.
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Welcome to Millennial Island35% of top performing companies will change their compensation strategy to accommodate Millennials, while only 28% of average companies plan to do so.
Millennials care about Transparency, Flexibility & Fairness
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Hot 2016 prediction: Last year is so last year
44% of companies predict that the hottest HR trend of 2016 is a shift from an annual performance review to real time, ongoing feedback.
“The world isn’t really on an annual cycle anymore for anything.”-Susan P. Peters, Senior Vice President, Human Resources at GE
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Check out the 2016 CBPRView interactive charts and download the report www.payscale.com/cbprKeep an eye out for upcoming webinars that will return you to Comptopia all year long. Viva Comptopia!