Tim Low SVP Marketing
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
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
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.
What do top performers do better?
Insights from the 2016
Compensation Best Practices
Report
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.
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.
Bridge the Comp Chasm
The data uncovers a vast chasm between employer and employee perceptions.
Retention linked to compFor the fifth year in a row, compensation, aka “seeking higher pay elsewhere,” was a top reason employees left companies.
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.
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
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 )
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.
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
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
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!