VOSA Founder | Finance & Compensation Optimization Expert | Foremost Authority on Meritocratic Pay Equity™, Value of Service Award™ (VOSA™), Tenure-Based Profit-Sharing™ & Layoff Alternatives. [ Cogito Ergo Sum ]
When it comes to fair compensation, there is a huge gap between: -what conpanies think is "fair" (usually based on compensation benchmarking surveys and "you accepted this offer so why should we ever pay you more for doing the same job" mentality) -what employees think is "fair" (usually based on broader and more economically relevant and accurate view of "what is my value to the company") Any conpany that wants to claim that it pays its employees fairly, and wants to mean it, needs to reconcile the two, and create a conpensation design that doea both: 1. Use some market data and "job leveling" to set starting pay for the roles (this tends to be the core of what HR actually does) 2. Design a system where all human-specific and company-specific value factors are transparently and consistently applied to derive individual pay progression that is uncorrelated with the market and reflects true value of long-term employees to the company (often, such value exceeds their job-specific pay/base salary when employee company-specific knowledge and culture fit become indispensable with time) - none of HR/Companies are doing this, or doing this correctly, leading to incredible productivity, quality and profit losses, as companies keep losing their best employees.
Dad of 3 | Husband | American | Marine Vet
5moI see what you did there 🙂