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A compensation plan self-audit may seem intimidating, and it's true that you may want to seek expertise to help you the first time through. But once the tracks are laid, you can follow them every year or so to learn whether your compensation plans are doing what you want them to--or whether they are not.
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Is the U.S. economy already in recession? Is that condition just around the next corner? Across the nation, employers find it nearly impossible to ignore the possibility that revenues and profits could drop--and they're already feeling the pain in real estate, construction, financial services, and the automotive industry. If you're still at the stage of the jitters, should you act on them?
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You know those social networking sites you've been hearing about, like Facebook and MySpace? Ever been tempted to see whether one of your job candidates has a profile there? Or just to Google a candidate to see what you can find out? Go for it! But while you're at it, use some cautions recommended by two speakers on a recent BLR audio conference.
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In a candidate's job market, you want to do everything you can to hang onto your top performers because they'll be the hardest to replace. From global recruiting firm MRINetwork comes this advice: First, assume that all your best employees are being actively recruited--receiving calls and offers from your competitors. Then, train supervisors to re-recruit all their subordinates at least once a year.
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We all know it's a job candidate's market out there, and experts from Monster have some observations about why. Steve Pogorzelski, EVP of Monster Worldwide, and Jesse Harriott, Ph.D., VP for Global Research at Monster Insights, shared their views in a recent webinar.
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With an abundance of salary surveys available, it is very likely that you can find pricing information for the job you're evaluating, in your area, at any given time. The process comes down to three simple steps: choose a salary survey, locate the job, price it at the 50th percentile. But there are always a few jobs, perhaps those in high demand in your area, or those requiring a unique set of skills, for which you'll need to inject a bit of art into the process.
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