The document discusses creating transparency in the workplace. It begins with an agenda covering topics like why transparency matters and defining different levels of transparency. It then discusses a transparency spectrum with different levels of transparency around pay rates and compensation processes. The document provides advice on moving to greater transparency, including gaining executive support, training managers, assessing the workforce, and developing a transparency plan. It concludes with immediate actions companies can take to increase transparency.
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Creating Pay Transparency In The Workplace
1.
2. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Rusty Lindquist
V P O F H R I N S I G H T S A T
B A M B O O H R
Paige Hanley, CCP
S E N I O R C O M P E N S A T I O N
P R O F E S S I O N A L A T P A Y S C A L E
3. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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• Pay Transparency Matters
• Defining Transparency
• The Transparency Spectrum
• Moving to Greater Transparency
• Immediate Actions
Agenda
4. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Pay Transparency
gets everyone in the same
boat, paddling in the
same direction.
5. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Why Would Anybody
be More Transparent
about Pay?
Pay Transparency
Trust
Better Business
Outcomes!
Engagement
6. Employees who perceive a ‘fair and
transparent pay practice’have lower
intent to leave and higher satisfaction
PERCENT OF
RESPONSES
LOW AVERAGE HIGH
50% 31% 19%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
1 2 3 4&5
% Responses with Intent to Leave % Responses with High Satsifaction
7. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Workforce Demographics…
8. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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… are changing
10. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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...whether they want to or not
• CEO to worker ratios
• 990s
• Say on Pay
11. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Defining Transparency
Defining Transparency
12. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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What are we being
transparent about?
• Pay Philosophy
• Pay Strategy
• Pay Practices
• Market Studies
• Pay Rates
13. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Pay Philosophy
14. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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• Defining the competition
• Aiming to meet or exceed the competition
• Deciding what matters
• Acknowledging various segments
Pay Strategy
15. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Pay Practices
• Have a plan
• Jobs have grade assignments
• Range minimums / Range
maximums
• Increase process / cycle
• Budget process / cycle
16. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Market Studies
17. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Salary Rates
18. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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The Transparency Spectrum
19. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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20. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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1. Only own pay
21. • Philosophy shared with managers
• High-level strategy shared with managers
• Plan shared with managers
• Manager and employee discuss employee’s pay
2. Manager & Employee
Talk About Pay
22. 3. Company Pay Philosophy
• Philosophy shared with employees
• Strategy shared with managers
• Plan shared with employees; ranges shared with
employees and managers
• Do a market study
• Manager and employee discuss employee’s pay
23. 4. Market Study & Comp Processes known
• Philosophy explained to employees
• High-level strategy shared with employees; full strategy shared
with managers
• Managers know all ranges to their level; employees know ranges
in their path and how to advance
• Market study provider known; employee to market results known
by employee
• Manager and employee discuss employee’s pay
24. 5. Managers Trained to Talk Pay
• Philosophy explained to employees
• High-level strategy shared with employees; full strategy
shared with managers
• Managers know all ranges to their level; employees
know ranges in their path and how to advance
• Company wide results known; Employee to market
results known by employee
• Manager and employee discuss employee pay well
25. • Philosophy explained to employees
• Full strategy shared with employees
• All ranges shared with employees; budget and
increase process / cycle known
• Department-wide results known
• Manager and employee discuss employee pay well
6. Published Ranges & Grades
26. • Philosophy explained to employees
• Full strategy shared with employees
• All ranges shared with employees; budget
and increase process / cycle known
• Employee to market results shared
• Everybody knows everybody’s pay
7. Everybody Knows Your Salary
27. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Gartner Hype CycleVISIBILITY
TIME / MATURITY
Trigger
Peak of Inflated Expectations
Trough of Disillusionment
Slope of
Enlightenment
Plateau of Productivity
28. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Adoption CurveVISIBILITY
INNOVATORS
EARLY
ADOPTERS
EARLY
MAJORITY
LATE
MAJORITY
LAGGARDS
Chasm of Wants
29. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Moving to greater
transparency
30. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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• Explain what transparency is (and isn’t)
• Link transparency with results that matter
Gain executive support
31. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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• Provide information about the business, rationale for
increasing communication, and tools for success
• Expect more to get more
• No really, train them on communication
Train Managers
32. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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• What’s the makeup of your workforce?
• Are they ready for more transparency?
• Do they want it?
Assess Workforce
33. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Get clear about roles
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Develop a plan
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Functional Transparency
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Immediate Actions
• Assess your workforce
• Educate yourself further about transparency
• Notice what you already do in your org
• Think about what “pushing the envelope”
means to you
• Begin talking with your executives
37. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Thank you!
38. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
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Notes de l'éditeur
SLIDE: RUSTY
SLIDE: RUSTY
SLIDE: RUSTY
SLIDE: PAIGE
SLIDE: PAIGE
SLIDE: PAIGE
SPEAKER NOTES: Transparency is a means to an end –
We do transparency to build trust
- building trust increases both engagement and through that productivity/performance
- performance drives business results and outcomes
SLIDE: PAIGE
Consider workforce make-up including:
Generation
Life stage
Etc
SLIDE: PAIGE
Source: http://www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/
Millennials prefer transparency of pay practice
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 some years.
SLIDE: PAIGE
New laws on the books making it illegal to take action against employees who talk about their pay.
SLIDE: RUSTY
SLIDE: RUSTY
Within each of these areas there multiple levels of transparency as well so let’s look at them in a little more detail.
SLIDE: RUSTY
SLIDE: RUSTY
SPEAKER NOTES: Your Pay Strategy is composed of a number of different things that you can choose to share:
Who are you competing with for talent?
If your philosophy is “we intend to meet the market”
How is our market defined? We compete with SF tech companies? We compete with large SF tech companies?
Are you rewarding performance, tenure, special skills or certifications? Is that something you would share with your workforce?
I’ve worked with a number of clients who may be on the small side themselves but when it comes to pay they’re choosing to target larger markets. I always think that’s such a great message to share. If you’re doing something great like that why not tell your employees? “Hey we know we’re a 100 person company right now but we’re choosing to pay you as if we were a 1,000 person company.” What a great message!
RUSTY
· Have a plan
· Give jobs a grade assignment
· Range minimums and maximums
· Increase process / cycle
· Budget process / cycle
SAME
SPEAKER NOTES: PAYSCALE DID THIS STUDY—HERE IS WHAT WE LEARNED FROM THE STUDY:
SLIDE: RUSTY
- Summary results
- detailed results
- results of the market study for your job
- results of the market study for you
PAIGE
SPEAKER NOTES:
1. Your employee knows his or her pay
2. Manager knows employee’s pay
3. Employee knows how his pay compares to the team/dept/org
4. Everyone knows everyone’s pay
PAIGE
PAIGE
PAIGE
SPEAKER NOTES: Managers may not / don’t know EE pay.
PAIGE
PAIGE
PAIGE
PAIGE
PAIGE
PAIGE
SPEAKER NOTES: “Extreme transparency”
Transparency of pay rates – the Buffer example
- lots of noise
- think about a cupboard with no doors – have to be extremely tidy
RUSTY
RUSTY
RUSTY
SPEAKER NOTES: So you decide you want to be more transparent or maybe just dip your toe in the water and see what one step towards being more transparent would look like. How do you do that?
RUSTY
· Explain what transparency is (and isn’t)
· Link transparency with results that matter
First thing you’ll want to do is gain your exec’s support. Like any time you’re communicating with your exec team, you’ll want to give them a short and concise explanation of what transparency is, why it matters, and then most importantly link it to some sort of results or business goals that matter to them.
If you explain how higher transparency is linked to a lower intent to leave but they feel retention isn’t an issue at your workplace, then they may not be interested in what you have to say. If however they are concerned about employee engagement, use that to explain how moving towards transparency can help them succeed.
RUSTY
SPEAKER NOTES: Once you have support from your exec team, you’ll want to train your managers. It’s hard as a manager to buy-into something if you don’t understand the rationale behind it. The more you do understand, the easier it is to get behind it and really become a champion for that cause.
We work with so many people who say “oh our managers can’t do that or won’t be able to handle that”. Don’t sell them short, expect more of them and then give them the resources.
Part of those resources are the traiing. We think of communication that is automatic or a given but there are parts of communication that are so automatic that we don’t even realize we’re doing them and they can be detrimental. Good communication is a skill just like anything else you. You can train on it and get better at it with practice and help.
RUSTY
SPEAKER NOTES: Who do you have in your workforce, do they even want transparency? What kind of transparency do they want? Maybe you don’t have that many milenials yet. Maybe you have some more traditional functions who are happy to just be head down and working. Or maybe on the other hand you’ll have people who will be distracted by not knowing and it will be productive to share more. You’ll only know by knowing who’s in your organization.
RUSTY
Develop a plan
(Re-do graph but lowercase “p” in philosophy and Third party study)
SPEAKER NOTES: Once you’ve decided where you are and where you want to go, develop a plan to figure out how to get you there.
For example (read through slide)
PAIGE
SPEAKER NOTES:
think about a cupboard with no doors – have to be extremely tidy
In a working kitchen, things aren’t always pretty, but they’re always functional
Is your company ready for that? We’ll talk about getting you more transparent, if not there yet.
Sometimes doors (or at least curtains) serve a purpose