Sharon L. McKnight, CCP, SPHR, draws from more than 20 years of management experience, including 6 years as a director of human resources, to develop compensation administration tools and write about compensation issues. Her experience in both operational and HR management provides her with a practical approach to providing online resources that address the challenges facing compensation and human resource professionals.
She achieved certification as a Senior Professional in Human Resources (SPHR) by the Human Resources Certification Institute in 2007 and as a Certified Compensation Professional (CCP) by the WorldatWork Society of Certified Professionals in 2014. She attended Middle Tennessee State University and is a member of the Society for Human Resource Management, the Middle Tennessee Chapter of SHRM, and WorldatWork.
At some point along the way, you’ve probably heard a comment about, talking the talk vs. walking the walk, with the implication being that action is more important than words. In a lot of ways that might be true. When it comes to compensation, however, talking the talk is pretty important, too.
If you’re like many employers and have Baby Boomers in your workforce, you may be thinking about how you’re going to replace all that organizational knowledge as they retire. If that’s what’s on your mind, then it’s time to dust off that succession plan and get busy capturing all that knowledge. This article, however, is about helping employees, who choose to do so, transition to retirees or to part-time work. Or, in some cases, not retire at all.
How do you convey to your boss that he has a skewed view of his market value? It’s difficult to convey the opposite of what you know your boss wants to hear. It’s just plain dicey to lob a “no, you can’t have it” at someone who controls whether you have a job that enables you to pay your rent and buy food. So what can you do? You can have that conversation but need to be cautious in how you approach the topic.
Many employers monitor the Consumer Price Index (CPI) closely because wages tend to follow changes in the cost of goods. Rather than, or in some cases in addition to, providing performance-based merit increases, employers may provide cost of living adjustment (COLA) increases. Given many employers use the annual CPI as their COLA, it’s easy to think they are the same, but they're actually not.
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