How Reassuring? Most Employers Make Up Salaries As They Go

08/03/2016
Posted in Compensation
08/03/2016 CHRC

How Reassuring? Most Employers Make Up Salaries As They Go

The other night we were out to dinner with a group of friends and the topic of “Happiness” came up. Someone cited the study that after making $70,000 people did not show any real uptick in being happier.  Then another person added, “Isn’t that why that one CEO decided to pay everyone $70,000?” Of course, all eyes turned to the Comp Consultant in the group and asked me what I thought.  Too tired on a Friday night to get into the mechanics of a real answer I said: “Of course it’s a terrible idea, it would put all the comp consultants out of business.”

Well, based on this piece in today’s WSJ, it looks like 62% of US companies are still in need of a comp consultant.  This article goes on to describe the bare minimum that should be done, let alone some creative approaches that should be developed if your company is facing some significant challenges. Read More Here