As we tell our clients and colleagues, there is a big difference between a “tool” and a “program.”
Resolution #3 – Reduce your reliance on market data in favor of an effective internal equity program.
Let’s face it. The human resources and employee compensation profession has lost its focus, as well as much of its credibility, in favor of the lure of gimmicks and black box internet technologies. Over the last two years, we have reviewed the web sites of several providers of online “market data,” testing their products, and looked closely at some studies of compensation practices published by World at Work (formerly the American Compensation Association). Many of the sites and studies had serious professional problems, such as making absurd predictions of the market, using the wrong terminology, or incorrect definitions for common professional terms.
It may seem like nit-picking to some, but when the major compensation professional society mislabels market pricing as a form of job evaluation, it’s time for some serious questioning of what…
View original post 740 more words