Building a compensation team is something every company can benefit from. Unfortunately, for various reasons, such as a lack of internal resources or cost, it often gets deprioritized by the HR team. In today’s competitive workplace, where everyone is fighting for top talent, this can’t happen. Having a trained compensation team that can
The Story: A global Information Technology organization tabbed HCM Strategies to better identify cost-saving opportunities across their contingent workforce program. Leveraging Arch AI ® – our proprietary market rate technology – our compensation analysts were able to provide realized cost savings of $1.7 million over two years by optimizing just one of
What does risk mitigation mean when talking about your contingent and full-time workforce programs? From a high level, workforce risk mitigation involves putting the necessary processes in place to protect your organization—think remaining in compliance and having clear documentation of employee classifications. As organizations evolve—especially in the wake of the COVID-19 pandemic—HR
The COVID-19 pandemic has taught us a lot about business. We’ve learned how important communication is between employers and employees. We’ve seen the prevalence of mental illness in society. We’ve also learned that businesses need to prepare for the unexpected. They need to be able to sustain themselves when revenue dips. A
Have you ever thought about how you can help boost your company’s bottom line? For many businesses, the answer to this generally involves a mixture of changes like raising prices or increasing the marketing budget. While these changes can be impactful, there are other, less considered, ways to accomplish this. Evolving the
