A study conducted by PayScale revealed that employees’ perceptions of how they are paid are a better predictor of their intent to stay than their actual fair pay to the market. These implications create a huge opportunity for employers to get it right when it comes to communicating pay effectively.
Conversations about pay are often perceived as scary, demoralizing, or just boring. However, done right, pay talk can be quite motivating.
View this webinar and learn:
-Why talking about pay with employees is so important
-How you can train your managers to have useful compensation conversations
-What typical situations you may encounter when it’s time to talk pay
In partnership with BambooHR
Communicating Compensation to Executives and ManagersBambooHR
Being able to communicate compensation can be tricky. There are a lot of variables when presenting this to executives and managers. But it's vital you get it right so that you keep your best talent.
Presenting this set of slides with name - Change Management Fundamentals Powerpoint Presentation Slides. This PPT deck displays twenty three slides with in depth research. Our topic oriented Change Management Fundamentals Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Change Management Fundamentals Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
Tough Comp Conversations: A Guide For Doing Them RightShelly Myers
Comp can be tricky… after all, few things carry as much emotional weight as comp. And with the increased transparency in the market, combined with our collective propensity to rate ourselves against others, the frequency of these very difficult conversations are increasing. To top it all off, they’re mostly being had by managers who are not ready for them, which is frightening, because getting these conversations wrong can be incredibly costly.
In this webinar will deconstruct some of the psychology around comp. We’ll take an analytic look at comp’s role in the employee experience, and then we’ll get really tactical with guidance on very specific compensation conversations. We’ll also talk about the interplay between comp and culture, and provide insight into how you can pave the path for these conversations to go smoother, even before they ever happen.
We hope you’ll join Payscale and BambooHR in this important discussion.
In The Challenger Customer, CEB research identifies the Mobilizer customer as a critical player on the buyer panel. Engaging and challenging this individual is crucial to your deal’s success.
Strategic Workforce Planning PowerPoint Presentation Slides is a comprehensive solution for HR professionals to showcase talent management plans. This human resource strategy PPT theme touches key aspects like employee training, motivation, performance management, career planning, and employee engagement. The manpower management PowerPoint slideshow helps you to demonstrate talent management methodology. Highlight recruitment sources, process, and how to track recruitment activities by the means of this workforce management PPT template. Elucidating the hiring plan by department becomes easy using tabular formats of employee planning PowerPoint theme. Illustrate performance planning guidelines, performance coaching, and feedback through this staff management PPT slideshow and present types of goals and priorities. Showcase action plan for employee motivation in a concise tabular layout included in this personnel management PowerPoint template. So, download this HR planning PPT deck to demonstrate the fundamentals of strategic workforce planning. https://bit.ly/3dS7qkA
Communicating Compensation to Executives and ManagersBambooHR
Being able to communicate compensation can be tricky. There are a lot of variables when presenting this to executives and managers. But it's vital you get it right so that you keep your best talent.
Presenting this set of slides with name - Change Management Fundamentals Powerpoint Presentation Slides. This PPT deck displays twenty three slides with in depth research. Our topic oriented Change Management Fundamentals Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Change Management Fundamentals Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
Tough Comp Conversations: A Guide For Doing Them RightShelly Myers
Comp can be tricky… after all, few things carry as much emotional weight as comp. And with the increased transparency in the market, combined with our collective propensity to rate ourselves against others, the frequency of these very difficult conversations are increasing. To top it all off, they’re mostly being had by managers who are not ready for them, which is frightening, because getting these conversations wrong can be incredibly costly.
In this webinar will deconstruct some of the psychology around comp. We’ll take an analytic look at comp’s role in the employee experience, and then we’ll get really tactical with guidance on very specific compensation conversations. We’ll also talk about the interplay between comp and culture, and provide insight into how you can pave the path for these conversations to go smoother, even before they ever happen.
We hope you’ll join Payscale and BambooHR in this important discussion.
In The Challenger Customer, CEB research identifies the Mobilizer customer as a critical player on the buyer panel. Engaging and challenging this individual is crucial to your deal’s success.
Strategic Workforce Planning PowerPoint Presentation Slides is a comprehensive solution for HR professionals to showcase talent management plans. This human resource strategy PPT theme touches key aspects like employee training, motivation, performance management, career planning, and employee engagement. The manpower management PowerPoint slideshow helps you to demonstrate talent management methodology. Highlight recruitment sources, process, and how to track recruitment activities by the means of this workforce management PPT template. Elucidating the hiring plan by department becomes easy using tabular formats of employee planning PowerPoint theme. Illustrate performance planning guidelines, performance coaching, and feedback through this staff management PPT slideshow and present types of goals and priorities. Showcase action plan for employee motivation in a concise tabular layout included in this personnel management PowerPoint template. So, download this HR planning PPT deck to demonstrate the fundamentals of strategic workforce planning. https://bit.ly/3dS7qkA
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project managementand business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Creating Pay Transparency in the WorkplaceBambooHR
Create pay transparency involves more than publishing employee salaries. This slideshare looks at the different stages of pay transparency and what may be right for your organization.
Change Management processes typically provides a system of planning, scheduling, implementing, and tracking changes that need to be completed within an organization
“Ensure that standardized methods and techniques are used for efficient and prompt handling of all changes in order to prevent change-related incidents”.
TYPES OF CHANGE, organisation change, change management, forces of change, levels of change, resistance to change, methods to change, lewin model of change
Four years ago, The Challenger Sale overturned decades of conventional wisdom with a bold new approach to sales. Now our latest research reveals something even more surprising: Being a Challenger seller is not enough. Your success or failure also depends on who you challenge. To win today, you need a Challenger inside the customer organization, a Mobilizer. CEB will reveal what high-performing B2B teams grasp that their average-performing peers don't. Now that big, complex deals increasingly require consensus among a wide range of players across the organization, the limiting factor is rarely the salesperson's inability to connect to any one individual stakeholder. It's far more often their inability to connect them to each other. Join Brent Adamson, Principal Advisor for CEB and co-author of The Challenger Sale. Brent facilitates a wide range of executive-level discussions around the world for Fortune 500/Global 1000 executives in sales, marketing, and customer service.
Check out the session video: http://bit.ly/1MnKzqu
Tough Comp Conversations: A Guide For Doing Them RightNaba Ahmed
Compensation can be tricky, few things carry as much emotional weight as comp. And with the increased transparency in the market, combined with our collective propensity to rate ourselves against others, the frequency of these very difficult conversations is increasing.
In this webinar will deconstruct some of the psychology around comp. We’ll take an analytic look at comp’s role in the employee experience, and then we’ll get really tactical with guidance on very specific compensation conversations.
Not sure why employees keep leaving your organization? Check out these interesting stats on turnover and how to manage it so that you keep your best of best talent and attract even more.
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project managementand business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Creating Pay Transparency in the WorkplaceBambooHR
Create pay transparency involves more than publishing employee salaries. This slideshare looks at the different stages of pay transparency and what may be right for your organization.
Change Management processes typically provides a system of planning, scheduling, implementing, and tracking changes that need to be completed within an organization
“Ensure that standardized methods and techniques are used for efficient and prompt handling of all changes in order to prevent change-related incidents”.
TYPES OF CHANGE, organisation change, change management, forces of change, levels of change, resistance to change, methods to change, lewin model of change
Four years ago, The Challenger Sale overturned decades of conventional wisdom with a bold new approach to sales. Now our latest research reveals something even more surprising: Being a Challenger seller is not enough. Your success or failure also depends on who you challenge. To win today, you need a Challenger inside the customer organization, a Mobilizer. CEB will reveal what high-performing B2B teams grasp that their average-performing peers don't. Now that big, complex deals increasingly require consensus among a wide range of players across the organization, the limiting factor is rarely the salesperson's inability to connect to any one individual stakeholder. It's far more often their inability to connect them to each other. Join Brent Adamson, Principal Advisor for CEB and co-author of The Challenger Sale. Brent facilitates a wide range of executive-level discussions around the world for Fortune 500/Global 1000 executives in sales, marketing, and customer service.
Check out the session video: http://bit.ly/1MnKzqu
Tough Comp Conversations: A Guide For Doing Them RightNaba Ahmed
Compensation can be tricky, few things carry as much emotional weight as comp. And with the increased transparency in the market, combined with our collective propensity to rate ourselves against others, the frequency of these very difficult conversations is increasing.
In this webinar will deconstruct some of the psychology around comp. We’ll take an analytic look at comp’s role in the employee experience, and then we’ll get really tactical with guidance on very specific compensation conversations.
Not sure why employees keep leaving your organization? Check out these interesting stats on turnover and how to manage it so that you keep your best of best talent and attract even more.
Webinar-How to Communicate Compensation to Executives and ManagersPayScale, Inc.
Communicating compensation can be like walking a minefield—mistakes can be disastrous and getting it right is critical to your organization’s health and well-being. In this webinar, we’ll discuss the strategy of communicating compensation, how to make and execute a compensation plan, and how to include executives and managers in the conversation.
Attend this webinar and learn:
-How to engage the executive audience
-How to keep executives up-to-date with quick snapshots
-How to train managers to speak to employees about comp
In partnership with
BambooHR
Best Practices in Managing Employee TurnoverBambooHR
You spend too much time and energy to get the right people on your team to just stop worrying about them once they're on. This slideshare looks at employee turnover and how you can minimize it.
How to attract, develop and retain your millennial talent! | Talent Connect 2016LinkedIn Talent Solutions
Frans Mahieu, Kimberly-Clark
Raymond Steward, American National
In this session you will hear from two different companies in two different industries on how they use creative but effective branding to attract and retain top talent.
Kimberly-Clark marketer of iconic brands such as Kleenex, Huggies, Scott and U by Kotex has created new categories and challenged conventional wisdom for over 144 years. Frans Mahieu will share how Kimberly-Clark applies the same powerful marketing techniques to recruitment marketing that the company uses to engage with consumers.
American National has been building meaningful relationships with our clients, employees and surrounding communities for more than 110 years. We provide protection, security and comfort to more than 5 million policyholders who put their trust in our financial stability and strength. In this interactive session, Raymond will talk about his successes & failures and share the journey of learning to develop and retain young talent.
Frans will show you how to catch them; Raymond will show you how to keep them.
Key highlights:
How to differentiate your company from the competition.
Turning strategy into an execution that delivers.
Rallying the troops from collaboration to execution.
How to create a competitive edge by creating competitive VALUE.
Check out the best of Talent Connect: http://bit.ly/2e5ojNe
Reinventing Performance Management - How to do it rightBambooHR
Performance reviews have a bad rep—and often for good reason! This slideshare looks at how 100+ professionals and managers view performance reviews and how we can do them right.
Intergenerational Knowledge Transfer Succession Planningbeyondrewards
Over the past 5 years we have heard predictions of an impending worker shortage due to the retirement of the baby boomers. Predictions are that the retirement of baby boomers will create a drain in knowledge, experience and leadership in our workforce. With the recent downturn in the economy, most organizations did not focus on this trend. However, now that we appear to be in an economic recovery the discussion is back on the table with greater intensity. But did anyone actually speak to the boomers or is this just a prediction?
Ten definative questions for people in career transition to ask tehemselves and answer BEFORE they start the job search process
By answering these questions honestly will lead to being able to construct
Your next Job Title and what you want to do next
The types of companies, managers, people you perform best with
Your LinkedIn Profile
Cover Letters
Your Resume
Your Elevator Speech
Career Goals
Creating stories to answer interview questions
Selecting Target Companies
Defining your key skills and overall skill set
Where geographically you want to work
Salary expectations
4 Ways to Communicate Compensation That Drive Strategic OutcomesBambooHR
Compensation is one topic that we can be unsure how to communicate. This webinar shares important research on the why communicating compensation correctly is so important and how to do it so that it drives strategic outcomes.
15 Reasons Why Assessment is Key in Executive SelectionChuck Detling
We sat down with Adrianne McVeigh, the Executive Director
of Assessment Solutions at TalentQuest, to compile a list of
the top reasons why assessments like those offered through
this partnership are key in the executive selection process.
Selecting Candidates for Engagement and RetentionMonster
This PowerPoint deck will examine real ways to measure quality of hire and impact the value of talent on an organization.
Learn how to:
* Dispel myths on subjective recruitment measures
* Assess candidates for traits and competencies that are true identifiers of engaged employees within your organization
* Identify candidate’s fit within the organizational culture
* Provide best practices and low-cost tips to engage early and often.
* Discuss the generational differences in workplace concerns and about national trends in employee engagement.
Compensation Strategies for Fast Growing CompaniesNaba Ahmed
When organizations get into a high growth phase, everything starts moving faster. From recruiting to onboarding new hires, everything speeds up and becomes more challenging.
Compensation is a critical piece of the puzzle that you must get right as you scale quickly. Neglecting to think about compensation planning can cost you top talent, slow down recruiting, and create internal inequities down the line.
Webinar-Comp Strategies for Fast Growing CompaniesPayScale, Inc.
When organizations get into a high growth phase, everything starts moving faster. From recruiting to onboarding new hires, everything speeds up and becomes more challenging.
Compensation is a critical piece of the puzzle that you must get right as you scale quickly. Neglecting to think about compensation planning can cost you top talent, slow down recruiting, and create internal inequities down the line.
Attend this webinar and learn:
-How comp can help make hiring easier during high growth
-Ways to pay fairly across multiple locations
-3 options for your comp plan during a merger or acquisition
How to Make Sure Your Employees Feel Valued at WorkBambooHR
We have a foundational human need to feel valued, to feel appreciated, to feel like what we do matters, and is recognized. In HR we talk about “total rewards” or “rewards and recognition”. We may use all sorts of tactics to try to improve “employee engagement” but often miss some of the most important elements of this conversation. In this webinar we’ll dive deep into this human need to feel valued.
In this webinar, Tim Low, SVP of Marketing at PayScale, and Rusty Lindquist, VP of Thought Leadership at BambooHR will discuss why feeling valued is the key to sustaining great work and high performance. They will highlight what signals you need to watch out for to know when employees don’t feel appreciated. And most importantly, they will share concrete steps you can take to make sure your employees feel valued.
Webinar - How to Implement a Data-Driven Compensation StrategyPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas; Director of Product Management - Data Products, Vicky Peakman; and Director of Data Science, Sara Hillenmeyer as they explore the intricacies of how to design and implement your compensation data strategy.
Webinar - Maximize the efficiency of your merit increase cyclePayScale, Inc.
Let us show you how Payscale Compensation Planning allows you to streamline collaboration, improve workflows, maximize salary budget, and manage pay equity in the pay increase process. It’s never been easier to bring people and technology together to equitably and efficiently reward employee performance.
Webinar - How to set pay ranges in the context of pay transparency legislationPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas; VP of Compensation Services, Kim Taylor; and Senior Corporate Attorney-Employment, Lulu Seikaly as they discuss how to approach and set salary ranges in the context of increased pay transparency.
Webinar - Payscale Innovation Unleashed: New features and data evolving the c...PayScale, Inc.
Join Payscale’s Brittany Innes, Senior Director of Product Management, and Brooke Grimes, Senior Director of Product Marketing as they discuss what’s new, and coming soon, within the Payfactors platform.
Webinar - How to Choose and Use Salary DataPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas; Director of Product Management - Data Products, Vicky Peakman; and Director of Data Science, Sara Hillenmeyer as they discuss different salary data sources and how to choose the best ones for you.
Webinar - Q2 2024: What’s New in MarketPayPayScale, Inc.
Join Payscale’s Brittany Innes, Senior Director of Product Management, and Brooke Grimes, Senior Director of Product Marketing as they discuss what’s new, and coming soon, within the MarketPay platform.
Webinar - Pay Transparency Legislation Series, Ep. 11: Best Practices RevealedPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas and Senior Corporate Attorney-Employment, Lulu Seikaly as they discuss the current landscape of pay transparency legislation and dig into exciting new data around how organizations are approaching it.
Webinar - 2024 Compensation Best Practices PanelPayScale, Inc.
Join Payscale’s Zach Jamieson, Senior HR Business Partner and Robin Dean, Job Description Product Manager as they discuss the evolving landscape of job description management.
Navigating the Now: Pay Transparency, Equity and Opportunity in 2024PayScale, Inc.
Enjoy a panel led by industry thought leaders as they explore the intricate relationships between pay transparency, equity and opportunity. Against the backdrop of evolving legislative and political landscapes, technological advancements, and the changing world of work, this event promises to be an eye-opener.
Webinar-The Future of Job Description Management.pdfPayScale, Inc.
As the workforce undergoes transformative changes and organizations adapt to new norms, staying ahead requires a fresh perspective on how we manage job descriptions.
oin Payscale’s Zach Jamieson, Senior HR Business Partner and Robin Dean, Job Description Product Manager as they discuss the evolving landscape of job description management.
Specifically, they will cover the following:
Best practices for inclusive, collaborative job descriptions,
What’s to come with job description management, and the impact of AI
A look at Payscale’s job description management software
Webinar - Closing the Gap: How Organizations are Making Fair Pay a RealityPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas, and Associate Director of Content Marketing, Amy Stewart as they discuss this year’s gender pay gap report findings and what this means for organizations looking to take steps towards fair pay.
Payscale has three data sources to help organizations quickly respond to a changing talent market and the technology for organizations of all sizes to create more equitable and transparent pay practices.
Webinar - Paving the Way: Reflections and Insights for Year-Long Compensation...PayScale, Inc.
Join a panel of tenured compensation experts from Payformance Partners, Novant Health, and Roblox as they share compensation planning learnings, best practices, and insights and to help you in your current and future planning efforts.
Webinar - Panel: Navigating the Nuances of Compensation CommunicationsPayScale, Inc.
So, as many of us are wrapping up the year-end merit cycle and looking to communicate these decisions out, what can you do to navigate this season and these conversations successfully? Join a panel of Payscale’s HR and compensation experts as they share practical insights and best practices for smooth pay communications
Webinar - Compensation Best Practices Report Secrets Revealed: Play the Early...PayScale, Inc.
Join us for this engaging trivia-style webinar exclusively for CBPR fielders. Test your compensation IQ, benchmark your knowledge against national trends!
Webinar - Planning for Pay Transparency Legislation in the New YearPayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas and Senior Corporate Attorney- Employment, Lulu Seikaly, as they discuss the current landscape of global pay transparency legislation and best practices for remaining compliant in 2024.
Webinar - How to Create and Maintain a Practical Compensation CalendarPayScale, Inc.
Join Payscale’s Chloe Polanco, Senior Compensation Analyst and Daehi Hwang, Compensation Analyst as they walk through how to create and maintain an effective compensation calendar.
Webinar - Turning the Page: HR and Compensation Trends and Predictions for th...PayScale, Inc.
Join a panel of Payscale executives including Chief Financial Officer, James Redfern; Chief Customer Officer, David Hwang; Chief People Officer, Lexi Clarke; and Chief Product Evangelist, Ruth Thomas as they discuss the biggest challenges, priorities, and learnings that HR and Comp folks faced and could be facing in the new year.
Webinar - Getting the Right Data Mix to Market Price Your JobsPayScale, Inc.
Join a panel of data experts as they discuss different approaches and what strategies customers use to make sure they're making the right data-informed pay decisions.
Webinar - Getting the Right Data Mix to Market Price Your Jobs
Webinar - How to Communicate Compensation to Employees
1. Communicating
Pay to Employees
Mykkah Herner, MA, CCP
Modern Compensation Evangelist
Paige Hanley, CCP
Sr. Compensation Professional
Communicating Pay
to Employees
2. Rusty Lindquist
V P S T R A T E G I C H R I N S I G H T S
B A M B O O H R
@ r u s t y l i n d q u i s t
r u s t y @ b a m b o o h r . c o m
w w w . l i n k e d i n . c o m / i n / r u s t y l i n d q u i s t
Mykkah Herner
M O D E R N C O M P E V A N G E L I S T
P A Y S C A L E
@ m y k k a h _ h e r n e r
M y k k a h H @ p a y s c a l e . c o m
w w w . l i n k e d i n . c o m / i n / m y k k a h h e r n e r
5. Feeling appreciated, valued, and adequate rewarded for your effort.
Value
Total rewards
Va Value
Rewards Recognition Pay
What you get from work
6. Comp is about an
Exchange of Value
Not just Money
Experience in industry
Experience in market vertical
Experience in adjacent markets
Experience in field of discipline
Experience in adjacent disciplines
Experience with competitors
Product knowledge
Competitor knowledge
Time and experience in company
Education
Discipline training and certification
Supply and demand
Employer Value DriversEmployee Value Drivers
Base pay
Performance Pay
Paid time off
Benefits
Travel
Culture and environment
Work flexibility
Work/Life balance
Meaningful work
Who you work with
Challenging work
Opportunity to impact
Job security
Shared purpose / mission
Career advancement opportunities
Autonomy
Senior leadership
11. Lead The Conversation
80% of employees
will compare pay
Source: Card, D., et al., (2011); “Inequality at Work: The Effect of Peer Salaries on Job Satisfaction.”
13. of organizations feel very confident in their managers’
ability to have tough conversations about pay
19%
14. Comp is about an
Exchange of Value
Not just Money
Experience in industry
Experience in market vertical
Experience in adjacent markets
Experience in field of discipline
Experience in adjacent disciplines
Experience with competitors
Product knowledge
Competitor knowledge
Time and experience in company
Education
Discipline training and certification
Supply and demand
Employer Value DriversEmployee Value Drivers
Base pay
Performance Pay
Paid time off
Benefits
Travel
Culture and environment
Work flexibility
Work/Life balance
Meaningful work
Who you work with
Challenging work
Opportunity to impact
Job security
Shared purpose / mission
Career advancement opportunities
Autonomy
Senior leadership
15.
16. Communication Roles
(and Times)
Executives: Communicate program to organization at a high level
Managers: Communicate compensation details to employees
Employees: Bring questions to
manager or HR
HR: Prepare communication, consult and inform Executives, train Managers
17. Tips for Effective Employee
Communication
• Know your audience!
• Tell a holistic story
• Make the path forward clear
• Prepare, Prepare, Prepare
• Be direct and also empathetic
• Communicate early and often
20. Employee Pay is Low
Consider
• Should the employee pay be low?
• Is budget available?
Talking Points
• Start with appreciation
• Mention market movement
• Explain position in range
• Provide context
• Share this year’s increase amount
• Open the door
21. Consider
• Is this really another job?
• Does the organization need it?
• Is the employee qualified?
Talking Points
• Start with appreciation
• Mention market movement
• Explain position in range
• Provide context
• Share this year’s situation
• Open the door
Employee Pay is High
22. Performance doesn’t warrant increase
Talking Points
• Start with appreciation
• Mention market movement
• Explain position in range
• Provide context
• Share this year’s situation
• Open the door
Consider
• How can they get up to par?
• What future potential is there?
23. Perception of Increase is Unfavorable
Consider
• Will they perceive their
adjustment is fair?
• How connected are they with
others?
Talking Points
• Reiterate accomplishments
• Re-focus on individual objectives
• Remind of market value
• Discuss why their pay is fair
• Open the door
29. Consider the Employee Perspective
The employee is often going to want:
• More money
• Promotion
• To be paid like their peers
• To understand why others are paid more than they are
30. Identify Creative Solutions
Consider Workplace “Currency”
• Paid paid vacation
• Additional/Alternative Perks
• FTE preference
• Staggered increase or offer
• PTO
• Work assignments
• Development opportunities
32. Immediate Actions
• Connect with your employees about what
motivates them
• Identify conversations about compensation you
need to have with your employees
• Develop clear career paths
• Prepare any high level messages about comp
• Prep toolkits for your managers to use when
communicating with employees
34. bamboohr.com 1-866-387-9595
Receive a free job posting on BambooHR’s ATS and full HRIS for one week.
We will contact everyone within a few days to set this up.
Questions?
Receive the related eBook from PayScale Communicating Compensation
We will contact everyone within a few days to share the eBook.
35. bamboohr.com 1-866-387-9595
Questions?
Rusty Lindquist
V P S T R A T E G I C H R I N S I G H T S
B A M B O O H R
@ r u s t y l i n d q u i s t
r u s t y @ b a m b o o h r . c o m
w w w . l i n k e d i n . c o m / i n / r u s t y l i n d q u i s t
Mykkah Herner
M O D E R N C O M P E V A N G E L I S T
P A Y S C A L E
@ m y k k a h _ h e r n e r
M y k k a h H @ p a y s c a l e . c o m
w w w . l i n k e d i n . c o m / i n / m y k k a h h e r n e r
Editor's Notes
Rusty
Rusty
Rusty
Rusty
Rusty
Mykkah
From Dave’s HBR Article: “This may sound obvious, but our survey showed that “intent to leave” decreased in relation to how favorable an employee felt about their pay. For example, 60% of employees who perceived they were underpaid said they intended to leave, compared to only 39% of those who perceived they were overpaid. The bottom line is this: if you don’t communicate to your employees that they are being paid fairly compared to their talent market, they may leave.”
https://hbr.org/2015/10/most-people-have-no-idea-whether-theyre-paid-fairly
Mykkah
Workforce Demographics are changing
Preferred communication style is one of the more substantive differentiators b/n the generations.
Consider workforce make-up including:
Generation
Life stage
etc
Mykkah
Millennials prefer transparency of pay practice – which sort of forces that orgs get their houses in order – which is ultimately a good thing for everyone. So while it may be frustrating for non-millennials to support greater transparency, it is creating the opportunity for more effective and productive organizations.
A nod to Gen Z – we already know they like more privacy (Move from things like facebook to things like snapchat or Instagram) than millennials – it’s the pendulum swinging back towards the center. But – your WF is likely NOT mainly Gen Z, and won’t be for many years.
Mykkah
Finding out where you stack up vs. peers can dramatically change:
Desire to stay/leave
Overall job satisfaction
Exert more/less effort
I was approached by an employee who was very upset that her base pay was being frozen. After going through our philosophy, the employees pay compared to the grade and range she was in the employee left the meeting with a smile on her face, feeling positive about the conversation. - company with 300 EEs (Monarch Landing – internal only)
Rusty
Rusty
So why is it important to train your managers to talk about comp….read stat
Real concern that managers don’t know how to manage. Manager have a lot going along and talking about comp isn’t their primary job so we need to make it easier to do that. Often promoted because their great at their function, not at being a manager. HR and Leaders can’t be having the conversation every time. Not sustainable and not the best, they have the best knowledge of their employees and these conversations are an opportunity that they need to have.
Rusty
Help them understand the spectrum, and build the ability to identify what matters most to the employee. Every comp conversation is an opportunity to talk about everything else. But they have to be looking at the whole spectru. Often when they say “I want more money” actually what they mean is “I don’t feel valued”, and it very well could be the path to fixing that is not about money (in fact, it often has the shortest-term impact on feeling valued).
Sometimes they just don’t have the language, don’t understand the equation, and so the only thing they think to talk about is pay. But it might not be as much about pay as you would think. It might. But it might not.
Rusty
And sometimes a manager is trying to solve an engagement problem with only a single lever. But activating the emotional energy of an employee is a far more complex equation, and you need to understand the formula that matters for that employee.
Rusty
Everyone has a role, but the timing is different.
HR’s role is to get the program ready, continue communicating updates to the Executive team, and to train the management team (which is what we’re doing today).
Executives, are responsible for approving the compensation plan, communicating it at a high level to the company, and they are also managers in their own right so they perform a dual role there.
Prepare talking points for executives, covering:
Compensation philosophy & purpose
Compensation plan changes at the highest level
Next steps – talk with managers
Managers’ role is to understand the program, communicate the information to your employees, and seek support from HR when needed.
Employees’ role is to agree to the program and if they don’t, they need to communicate that to you as managers and again, you can seek out support from HR if needed.
Managers *CAN* talk comp, when given the tools, resources, and training to do so. With that in place managers can act both as agents of the organization and advocates for employees.
“Go ask HR” or “HR won’t let me” undermines their own authority. HR is here to support, not hinder.
Prepare tool kit for managers, including:
Compensation plan talking points
Compensation plan information
Details for each employee they supervise
Tips for each type of conversation they may have
Rusty
These are basics for communication in general, and also specifically about compensation.
Know your audience
Maybe you have someone on your team who needs more direct information, get the headline right away, followed by information that supports that main message
Others might prefer a lead up to the big headline, where supporting information is given up front leading up to the big reveal
Either way, you want to make sure you’re tailoring your communication style to your employees to ensure your message is heard.
Next:
Watch the jargon – we’ve given you a lot of terms, you can assume your EEs won’t know all of them, so if you use terms like “position in range” be prepared to provide a definition.
Don’t present issues without a way forward – make sure employees know how they can improve or increase their earning potential.
Prepare as much as possible – though conversations regarding compensation are not always planned, the more you know ahead of time, the better you’ll be able to handle the conversation.
Be direct and also empathetic – compensation is personal, it can impact whether people are able to move into a larger apartment, go to a movie an extra night a week, go our to dinner more often. That said, you’ve done a third party study, you’ve done your homework, you don’t need to be apologetic – so do be direct but also empathetic
And last, we mentioned this earlier, but be good to your future self, if you see any issues arising, head them off early.
Mykkah
It’s not an on-off switch, there are levels of transparency, and it’s important for every organization to figure out the right level for them
The millennial workforce – they grew up with the internet and are used to having information at their finger tips. They typically want higher levels of transparency and are much more public about their pay then the generations before them. While it may not be right for every organization to share everything, we find that if a company shares some information, it fosters more confidence from the millennials in your organization.
Side note: if you want to be transparent, you have to clean house first.
Mykkah
Mykkah
For Live Training:
Start by describing what we’re talking about – EE pay is low, or perceived as low
What we’re seeing here, this is the range, here is where their range is, it is low in range (4%), you might think it’s low, etc.
Considerations:
Should it be low, or is that amount appropriate? (did they just start the job, is there proficiency not up to par, still in training)?
Is there a budget? If the answer is no, that’s a different conversation (that message is usually delivered by Execs/HR – no increases this year, sorry bout it)
You’ll notice the talking points look the same for most of them, but the way you handle the conversation is different
Scenario A – the situation is that you have an EE whose pay is low, the market moved up, and they are proficient in the role. And, there is budget to do an increase. So, the best of all cases.
Thank you for all your contributions this past year
Your position is gaining in market value
You are below last year’s competitive range
Last year you earned an increase of 3%, which was the organizational average
I’m going to give you a bump of 5%, which is above this year’s organizational average increase of 2.5%
Keep doing what you’ve been doing and if the market holds you’ll be in good shape next year (that is opening the door, giving them a way to move forward or progress in some way)
Scenario B – the situation is that you have an EE whose pay is low, the market moved up, but their proficiency level isn’t quite up to par. The budget is available, but irrelevant due proficiency. So, a bit more challenging to communicate.
Thank you for your contributions this past year
Your position is gaining in market value, however we don’t feel that your skill set is current to what we’re seeing for similar positions in the market
You are currently below range, but I think that’s fair given your current skillset/proficiency.
Don’t bother saying what they got last year…
I’m giving you a small increase this year of 2%. In order to earn a larger increase next year, I’d like to see….
Let’s check in in another quarter to see how you’re progressing so we can keep you on track for next year.
Open the door, no one wants to feel like there is no where to go. Make sure you tell them how they can move forward from the conversation. If they are not getting an increase, tell them how they can get an increase next time.
Mykkah
For Live Training:
Explain graph at top right.
Review things to consider.
Then, scenarios…
Are they truly red circled
Three check points:
Does the org need the work performed
Can the org pay for it
Does the EE qualify
If yes, that’s a different conversation, it’s called a promotion and it’s very fun!
Otherwise, there are a few different scenarios we can talk through if they’re really paid high
Scenario A – Pay is high, market is steady, performance is stellar, budget is available.
Thank you for all your contributions this past year
Your position is holding steady in the market
You are above the maximum of your pay range. The pay range is determined by the market value of the job.
Last year you earned an increase of 4%, which was above the organizational average.
Instead of giving you an increase on your base pay, I’m instead going to give you a lump sum payout of 3% to acknowledge your contributions toward XYZ organizational goals.
If the market shifts, you will be eligible for an increase again next year if you continue to perform at this high level, otherwise we may be able to discuss another lump sum bonus at that time.
Scenario B – pay is high, market is steady, performance is average, and budget is irrelevant here.
Thank you for your contributions this past year
Your position is holding steady in the market
You are above the maximum of your pay range. The pay range is determined by the market value of your job.
Last year you earned an increase of 3%, which was the organizational average.
Because you are above the maximum of your pay range we will be unable to give you an increase to your base pay.
If the market shifts you will be eligible for an increase next year if you perform at a high level.
Let’s set some goals for you and if you achieve those next year you will be eligible for a lump sum bonus. Let’s check in in another quarter to see how you are progressing.
Mykkah
For Live Training:
The first thing to consider before walking into the meeting is what steps can the employee take to bring their performance up to par. In addition, though it may seem counter intuitive, it’s a good idea to consider what future opportunities the employee has with the organization as they may ask.
This is a scenario where you have an employee who has not met expectations on their performance review, so they will not be receiving a pay increase. The conversation with this employee might go something like this:
Thank you for your contributions toward X (Successful things) this past year.
As we’ve been discussing, your performance in such and such areas can be improved.
At this time, your pay is in the bottom third of your job’s range.
Because of your performance you are not eligible for an increase this go around.
Let’s set some goals and talk about how to bring you up to par with the expectations for your position. If you make significant improvements you’ll be eligible for an increase next year.
Let’s get something on the calendar in the next month or so to see your progress toward these goals.
Mykkah
For Live Training:
This is a challenge at every organization. Before I talk through the conversation itself, I think it’s important to discuss the idea of “negotiations” during increase / comp review meetings.
As Managers, you are advocating for the employees up front, even before the increase is approved
If you open the door to negotiation during this conversation, you’re detracting from the main message – “we value you and here’s what we are doing about your pay to reflect that.”
Make it clear that this is an increase, you’ve advocated on their behalf, and the conversation is not open for discussion
Doing so will help you avoid a vicious cycle of negotiation every little thing.
Ultimately, it saves your time and the employee’s morale/satisfaction/engagement
Considerations:
How will they perceive their adjustment?
How connected are they – or how likely are they to talk with other employees about their raise?
Make note of any employees you think may not be happy about their raise so you can head off any attempts to negotiate early.
It’s also important to note that even if you anticipate an employee will be ecstatic about their raise, they might catch you off guard with their disappointment.
If you know your employees are likely to talk to each other after your meeting, then it’s good to be prepared to provide context for why the employee is receiving the exact amount they are receiving. The more specific you can be, the more you help shape their perception of their pay in a positive way.
So in an example scenario, let’s say this particular employee already knows what their co-worker received for an increase and is now disappointed at the amount their receiving.
Start the conversation by reiterating their accomplishments
Focus on what they’ve done and how their pay is linked directly to those accomplishments
Explain that individual increases are based on each employees accomplishments relative to their goals
It’s also helpful to provide the market context – there is a fair market value for your job
Discuss why the pay range is fair, because again, you’ve already advocated for this increase amount and should be able to articulate how it relates to their performance and where they are at in range. Some things to mention might be:
Performance
Their Experience
Their position in range (maybe they’re already at the top and based on your tiered increase policy, their raise may be small)
Lastly, as with all compensation conversations, open the door and dig deeper to determine what they’re really concerned about?
If you conduct the conversation this way, their concerns may be alleviated. Or, it could be there is a deeper issue for the employee and it’s good to dig for that so you can head off potential ongoing conflict.
Note that we are not suggesting at any point that you share with the employee performance or statistics about any other employees. We are also redirecting the conversation to focus on the positives – not discussing what other employees are saying or why they’re saying it. Focus on the employee in front of you and don’t attempt to explain for what another employee shared.
Mykkah
For Live Training:
In this particular difficult conversation if you have an employee who is constantly wanting to discuss their pay, especially as it compares to the person down the hall or the employees down the street. This person has brought you every Internet report that exists on how much money they should make.
Conflicting Information Online
Independent Study
Pricing the job vs. the Person
We know online, there is a lot of conflicting information
That said, even if they go on our site, they may find a different number vs. what we have in the system
Good news – you can say you’ve done an independent study
The comp plan is based on the value of your jobs in your market based on the work your organization needs done for your jobs
All in support of getting your mission accomplished
When people go online, they price themselves
Pricing the best version of themselves
- They may attributed a bunch of skills/certifications to themselves that aren’t relevant to the job (which means you don’t have to pay for them)
They may be comparing themselves to New York or San Fran
We set this up based on what’s needed for your jobs, that helps us determine the market value for your jobs, and then we build a range around that value.
They’re brining this to you because they have concerns about their pay.
So start the conversation by appreciating their contributions.
Explain the company position – that you’ve done an independent salary study, you’ve determined a compensation strategy that aligns to your overall goals as a business.
Provide some information on pricing the job vs. the person
Give them a basic overview of the company’s compensation plan, keeping in mind your chosen level of transparency to ensure you’re consistent with what you share with employees.
Find a positive way to end the conversation that focuses on the future – what can they do to be eligible for an increase next time around? What can they do to move to the next level or job in their job family? Etc.
Rusty
Paige
Have data driven conversations so both your Ees and mgrs. Have confidence in why they’re paid what they’re paid.
Here’s a place to put your Comp Philosophy so every employee sees it.
Pg. 3…
Here’s where you are relative to your range and what does it mean to have a range penetration of 40% and why does that make sense.
Here’s your wage trends, so how your pay has changed over time and how it might continue to change over time.
Pg. 4…
If you share market data with them, your argument is even stronger. If you do share the 10th-90th percentile, be prepared to explain why everyone is not going to be paid at the 90th and why you EE are not paid at 90th (could be a good place to tie to performance and next steps).
Also a good place to point out pay trends (trending down)
Paige
Left page. Gives context on how they’re doing within their organization. You should only be sharing this if you’re doing it right! If you’re going to be this transparent to the org, don’t shy away from people who are paid low.
Right page. Have some talking points prepared for your managers. Things like “why am I being paid more/less than typical Ees in the same role”; “How competitive is my pay relative to the market” “How do I earn more and grow with the company?”
Middle…talk through Total Comp. Here’s the potential things you’d want to cover. Most Ees find out how much their medical benefits cost when they get their COBRA statement. That’s the wrong time. Why bother to have awesome benefits if you’re not going to tell people how much their valued.
Mykkah
Mykkah
Managers often will feel stressed out when they are talking with their Ees because their key fear is losing a top EE. They don’t want to be understaffed or impact morale negatively.
The answer is: getting a leg up on setting expectations by being transparent as much as possible, both at the point of offer and increase.
Mykkah
Some other workforce thoughts … depending who you have, you may need to get creative.
Mykkah
Hint: development is different from promotion… sometimes.