The topic of skills is not new to the world of talent management or development, making many appearances in the talent conversation over the years. Recently, it has been a permanent fixture in the discussion, focusing on the total integration of skills across all aspects of the employee experience. The term “skills economy” describes the evolution of how value is assigned in the workplace and employment, emphasizing the importance of individual skills over traditional job credentials.
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Topics:
Human Capital Management,
Learning Management,
Talent Management,
Workforce Management,
Payroll Management,
Total Compensation Management,
employee experience
Compensation practices are currently experiencing a substantial transformation, driven by evolving workforce expectations and rapid technological innovation. This shift is fundamentally reshaping how organizations approach rewards and recognition for workers. Technologies like data analytics enable more precise and personalized compensation management strategies while also fostering greater transparency and equity in how performance is measured and rewarded. These changes reflect a broader...
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Topics:
Human Capital Management,
Total Compensation Management,
employee experience
Today’s workforce places a high expectation on an enterprise’s commitment to fostering a fair and inclusive workplace. Numerous advances have been made in technology and employment regulations in the past few years, elevating the need and urgency for equitable and transparent operations relative to employee compensation. Technology plays a critical role in unlocking an enterprise’s ability to modernize its compensation practices and enact a system of processes designed to ensure a fair and...
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Topics:
Human Capital Management,
Total Compensation Management,
employee experience
Ventana Research recently announced its 2024 Market Agenda for Human Capital Management, continuing the guidance we have offered for two decades to help enterprises derive maximum potential from workforce- and people-related technology investments and initiatives. In crafting this Market Agenda, we focused on essential themes that are critical for HR organizations and for the software providers supporting them. The transformative nature of AI has not just begun to bring intelligence to HCM; it...
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Topics:
Human Capital Management,
Learning Management,
Talent Management,
Workforce Management,
Payroll Management,
Total Compensation Management,
employee experience
Human resources has long been stereotyped as the department that relies on intuition and experience in decision-making. Enterprises have evolved to understand the importance of their workforce to achieving business outcomes and not just as a line item in the expense column of a balance sheet, earning HR executives a seat in Lin Manuel Miranda’s eponymous “room where it happens.” In doing so, those very executives must be armed with the data that ties worker performance to business outcomes;...
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Topics:
Human Capital Management,
Workforce Management,
Total Compensation Management
A lot has changed in business over the past ten years. The rise of e-commerce and omnichannel buying and engagement, the increasing digitization of the economy and the broader adoption of pricing and revenue models such as subscription and usage. And these are all having an impact on how business leaders need to think about their organizations.
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Topics:
Payroll Management,
Total Compensation Management,
Office of Revenue,
Revenue Performance Management
The world is witnessing a long overdue and significant shift in the realm of pay equity and transparency. On March 30, the European Parliament passed the Pay Transparency Directive, mandating pay transparency and equity within organizations in an effort to close the gender pay gap and ensure equal pay for equal work. This legislation comes with teeth, providing strict mechanisms for enforcement including shifting the burden of proof from the worker to the employer in the event of legal...
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Topics:
Human Capital Management,
Total Compensation Management,
Pay Equity
We are happy to share insights gleaned from our latest Value Index research, an assessment of how well vendors’ offerings meet buyers’ requirements. The Ventana Research Value Index: Total Compensation Management 2023 is the distillation of a year of market and product research by Ventana Research. Drawing on our Benchmark Research, we apply a structured methodology built on evaluation categories that reflect the real-world criteria incorporated in a request for proposal to human capital...
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Topics:
Human Capital Management,
Total Compensation Management
Having just completed the 2023 Ventana Research Value Index for Total Compensation Management, We want to share some of my observations about how the market has advanced since our assessment three years ago. For more than two decades, Ventana Research has conducted market research in a spectrum of related areas including Total Compensation Management (TCM) as well as broader HCM areas ranging from employee experience, learning management, workforce management (WFM) to payroll management and...
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Topics:
Human Capital Management,
Total Compensation Management
Compensation management is the practice of strategically aligning worker pay with job roles, responsibilities and organizational objectives. It involves setting pay levels to ensure employees are adequately rewarded for their work while considering factors such as external economic trends, internal equity, budget constraints, tax regulations and compliance requirements.
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Topics:
Human Capital Management,
Total Compensation Management