History of Compensation: the Father of Human Resources

Compensation Data Facts - What's What in Compensation

DID YOU KNOW?

History of compensation... Credited as the most influential person in the human resources profession, Edward N. Hay laid the foundation for 20th-century compensation management and pioneered many of today's people management practices.

Hay acknowledged the need for a consistent salary-administration system to facilitate job evaluation, ranking, and pricing. Based on the premise that maximizing a companies people management skills would vastly improve their quality of work, he formed management consulting firm, the Hay Group, in 1943.

In 1951, an employee named Dale Purves invented the “Hay Guide Charts”, the world's most used job evaluation methodology. Comprised of four standard factors: Know-How, Problem Solving, Accountability and Working Conditions, these charts were revolutionary in allowing organizations to define and compare jobs within the company’s business units. The guide charts that bore his name would become the world's single most widely used job evaluation technique.

PeopleTicker provides Market Intelligence to Human Resources professionals and Procurement teams helping organizations benchmark their existing suppliers, and design more cost effective new programs that maximize both full time regular and contingent labor spend. By combining big data aggregation with crowd-based validation through its SkillsVillage eco-system of experts, PeopleTicker provides the most accurate and current compensation information available in the market today.