¿Cómo fomenta una cultura de transparencia y confianza en torno a sus prácticas de compensación?

Compensation strategy is the key foundation on which companies build all their pay related practices, it is crucial that the strategy is relevant to the company/industry/ workforce demographics and it is equally important to publicize it to all employees however this needs to be done rationally. it needs to be explained in simple terms and also the explanation needs to be accompanied with the logic behind the strategy. at the end of the day all employees want to get paid higher and wants to be positioned on top of the market among the 90th percentile

Política de Compensación: Mantener una política actualizada y accesible, explicando cómo se determinan las compensaciones con sus principales definiciones; mercado de referencia, estadígrafo de comparación y modelos de renta variable son clave. Plan de Transparencia Estructurado: Implementar un plan que revele gradualmente la información sobre compensaciones, adaptado a la madurez de la organización. Puedes partir por el grado salarial y luego entregar el posicionamiento. Procesos Justos y Equitativos: Asegurar la equidad en la compensación, utilizando toda la información disponible y otorgando promociones y ajustes salariales basados en el mérito y desempeño real de de la persona. Sin esto, todo lo demás no vale de nada.

Comece estabelecendo uma filosofia de remuneração clara que reflita os valores e objetivos da sua organização. Isso inclui definir como a empresa vê a remuneração em relação ao mercado (por exemplo, pagar na mediana ou no quartil superior para atrair talentos de topo), como ela lida com disparidades internas, e como incentiva o desempenho e o desenvolvimento profissional. Comunicar essa filosofia abertamente ajuda a criar um entendimento comum e alinha as expectativas entre a empresa e os funcionários.

A compensation philosophy is the foundation for all your compensation decisions, and is linked to things like your Employee Value Proposition (EVP) - it should outline what/how you pay, and why (high-level). If you don't have one, or have one that isn't clear/doesn't support organizational goals, it's very difficult to explain to employees why you have the compensation design that you do. This is something that employees (and candidates) should see and should be openly communicated, as a first step to building trust and transparency in compensation practices.

A compensation strategy is your 'why' as Simon Sinek would say. In the same way we have a set of values in order to build a culture we need a compensation strategy and principles in order to have a structured approach to paying and reward our employees.

In my experience, educating employees (and leaders!) on how compensation structures are designed and built, helps them understand how decisions are made, and provides them with critical information needed to have open and honest conversations with their leaders on important things like pay equity.

The research tells us that perception of fairness is more important than what we pay people. This means that it's not enough to have a fair approach and compensation structure. We have to make an effort to clearly communicate this to our employees. This doesn't mean simply putting this information on our intranet but communicating through written guides, videos and 1-2-1s with leaders.

Transparência significa compartilhar como são estruturados os salários, incluindo faixas salariais para diferentes níveis e funções, critérios para progressão salarial e como os bônus e incentivos são determinados. Isso não apenas demonstra abertura e honestidade, mas também ajuda os funcionários a entenderem onde se encaixam dentro da organização e o que podem fazer para progredir.

Regular communication about compensation strategies and changes is essential. Use multiple channels to share updates, including team meetings, internal newsletters, and one-on-one sessions. This ongoing dialogue ensures that employees are always aware of how compensation decisions are made, reinforcing transparency.

Involving employees in the process is a key stage to creating a transparent and trustworthy culture. It enables Compensation leaders to gain feedback on the HR processes and policies in place, first hand. However, In my experience this can sometimes be uncomfortable - afterall, when you've put a lot of effort into your work and an employee questions it, it's hard not to get a bit defensive. Nevertheless, it can lead to improvements and better outcomes. I have done this process in a number of ways: employee listening exercises; engagement surveys; and asking individuals. There is no right approach, it depends on the organisation's resources and the time requirement. And sometimes, the feedback comes whether or not you're expecting it!

Envolver os funcionários no processo de definição e revisão da estrutura de remuneração pode aumentar a confiança e a sensação de justiça. Isso pode incluir pesquisas de satisfação salarial, grupos focais para discussão de políticas de remuneração e canais para feedback contínuo. Fazer os funcionários se sentirem ouvidos e considerados nas políticas de remuneração fortalece a cultura de transparência e confiança.

Involving employees in the compensation process can significantly enhance trust. This could mean conducting surveys to understand their perspectives on pay fairness or involving employee representatives in compensation review meetings. Such involvement shows that the organization values employee input, further building trust.

It is shocking to see how many people tell me that their employer actively preaches that they should not be discussing compensation openly as this will cause dissatisfaction among team members. This has been a relatively common thread I've encountered in public accounting through my experience running Big 4 Transparency. If you feel a need to actively discourage discussion around compensation, this should be a sign your company should consider a pay equity audit and sort out some internal issues around compensation.

Ser transparente também significa ser aberto sobre as limitações e os desafios. Se a empresa não pode atender a certas expectativas salariais, é importante comunicar isso claramente, juntamente com as razões por trás dessas decisões. Manter uma postura de honestidade e responsabilidade, especialmente em momentos difíceis, pode fortalecer a confiança dos funcionários na gestão.

A transparência não é um estado, mas um processo contínuo. Regularmente solicitar feedback dos funcionários sobre a percepção da equidade e transparência da remuneração e estar aberto a fazer ajustes com base nesse feedback é crucial. Isso demonstra um compromisso com a melhoria contínua e valoriza as contribuições dos funcionários.

To maintain competitive and adaptive compensation practices, organizations should partner with compensation consultants. These experts offer: Market Trend Analysis: Insight into evolving industry standards and competitor offerings. Objective Benchmarking: Unbiased evaluation against best practices. Customized Strategies: Tailored approaches aligning with unique organizational goals. Legal Compliance Expertise: Navigating compensation-related regulations. Enhanced Employee Engagement: Strategies beyond financial benefits, boosting satisfaction. Effective Change Management: Guidance on communication for smooth transitions. Continuous Improvement: Regular updates to stay ahead in a dynamic market.

The most important aspect for ensuring fairness and transparency is to have a clear criteria for reward and recognition. The criteria should not only be in place but also well communicated across the organization well in advance so that everyone has an equal opportunity to deliver and earn it. Furthermore, the managers and HR should all be well equipped and trained to have clear and candid conversations with the employees so that there is abundant transparency and culture of trust that prevails with regards to compensation and benefits.

Além dos pontos acima, considere também a legislação local e as melhores práticas do setor, a igualdade de gênero e a diversidade na remuneração, e como a tecnologia e ferramentas de dados podem apoiar a transparência. Por exemplo, o uso de softwares de análise de remuneração pode ajudar a identificar e corrigir discrepâncias salariais injustificadas. Promover uma cultura de transparência e confiança em torno das práticas de remuneração beneficia tanto os funcionários quanto a organização, levando a uma maior satisfação no trabalho, retenção de talentos e um ambiente de trabalho mais harmonioso.

Conduct regular pay audits to identify and correct any disparities in compensation that cannot be explained by factors such as experience, role, performance, or location. Addressing pay equity is crucial for building trust.