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Skill based pay sometimes referred to as 'person based pay' is a system that places a monetary value on skills rather than the job. Business owners must always be thinking about what's next and continuously strive to improve in a rapid changing marketplace with increasing customer demands and both global and domestic competitors. Growing in popularity is a move from traditional seniority and merit based pay to skill based pay systems which communicate to employees that financial rewards are directly related to the knowledge and skill they can bring to the workplace.

 

Skill based pay allows companies to review market compensation data and determine pay based on the assessed value an employee has within an organization. Rather than establishing a set salary for every job description, the employee's skills and knowledge are taken into account.

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Top Stories: Lodging & Gaming
Women in the Hospitality Industry
Robert-Gaymer Jones speaks on whether the glass ceiling really exists for women in the hospitality industry. Women are in the minority at the highest levels of executive leadership - a phenomenon we see in every industry around the globe.  
(4Hoteliers)  Read the complete article
Union Members Talk Strategy for Upcoming Negotiations with 41 Las Vegas Resorts
About 1,000 members of the city's Culinary and Bartenders unions jammed the theater at Cashman Center this morning to devise strategies for upcoming negotiations to renew contracts with 41 Strip and downtown resorts.
(Hotel Online)  Read the complete article
Top Stories: Healthcare
Employers Benefit from Delayed Effective Date of March 1, 2013
The Affordable Care Act requires employers who are subject to the Fair Labor Standards Act to provide each employee a written notice of certain rights and information. This notice was to be provided no later than March 1, 2013 to current employees and to any employees hired after that date. 
(Hall Render)  Read the complete article
Why Mobile Operators Want a Healthcare Connection
Verizon is adding Walgreen CEO Gregory Wasson to its board, following AT&T's move last week to add recently retired Humana CEO Mike McCallister as a director. Although AT&T and Verizon are known for wireless and landline services, they are increasingly looking to squeeze future growth from attaching more connected devices to their networks and that includes a planned push into health care.
(The Wall Street Journal)  Read the complete article
One in Three Health Plans Fails To Meet ACA Standards for Out-of-Pocket Spending
A new analysis from HealthPocket, Inc., shows that 38 percent of U.S. health insurance plans are concealing consumers' true out-of-pocket costs by failing to include the deductible amount consumers must pay. 
(PR Newswire)  Read the complete article
Top Stories: Human Resources
Obama Urges Minimum Wage Increase and First-Ever Indexing
Obama told a joint session of Congress in the first State of the Union address of his second term. "But today, a full-time worker making the minimum wage earns $14,500 a year." He urged Congress to raise the federal minimum to $9 an hour, and to "tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on."
(The Nation)  Read the complete article
 Groundhog Day: The Cloudy Paradox in the Executive Suite -- Compensation and Ethics
February 2 was Groundhog Day. Punxsutawney Phil, the prognosticator of prognosticators, once again emerged from his hole to predict the coming of spring. As legend has it, cloudy means an early spring; a shadow, a longer winter. It's a good story, one made into a movie about Phil, played by Bill Murray, a television weatherman who relives the same day over and over again. 
(The Huffington Post)  Read the complete article
Reinventing Reward Systems For A Happier Office
Your father probably loved that gold watch he got for loyal service, but those days are over. This generation demands immediate recognition and creative incentives that reflect the social media world they understand. 
(Fast Company)  Read the complete article
Tips for Using Social Media to Uncover Employee Misconduct
Many HR professionals feel strongly that there is no need for perusing employees' social media pages, which may contain personal information that is irrelevant to their jobs, a spokeswoman for the Society for Human Resource Management says.  Some, however, are finding social media a useful if infrequently-used tool in identifying employee job-related misconduct. 
(Human Resource Executive)  Read the complete article
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