Sequoia’s Post

New year, new compensation strategies. ✨ The changing dynamics of the workforce, new tech, and culture shifts all point to a need for different approaches to compensation. Here are ideas to explore. ⬇️ #compensationstrategy #benefits

Compensation demands are seemingly always changing, and it's not just employees asking for more money 😀 Don't miss out on the latest compensation trends that are shaping the future. Discover how organizations are rethinking their strategies for this year and beyond.

Let’s get back to the basics: what is a compensation philosophy? It’s more than just a pay strategy. A well-defined comp philosophy shapes how your company approaches pay decisions, leading to fairness and transparency across the board. What are the key components of a comp philosophy? And how do you go about building one and communicating it with your organization? We broke it down on our blog. Read the post: https://lnkd.in/gJJvT5RQ #Pave #Compensation #CompPhilosophy

What is a compensation strategy? Here are some good examples to help inspire yours.

Last week, we launched our Compensation Consultant Directory, providing the most comprehensive resource available to find compensation consultants. In my latest blog, I share why I believe more organizations should find outside expertise to ensure their compensation is equitable, competitive, and aligned to an organization's strategy. https://rb.gy/6e9sk4 Payfederate #compensation

A written compensation philosophy and policy can be a vital tool in creating a compensation strategy that helps your organization recruit and retain the qualified employees you need to achieve your mission. Learn about four key benefits in this article by Stan Reiff, Sr CPA, CGMA, Partner, and Kelsey Helmick, SHRM-CP, CCP, Executive Compensation Program Consultant. https://hubs.la/Q02flbYc0 #NonprofitCompensation #CompensationPhilosophy

Compensation Professionals are lost in the data. Sad but true! Recently, we had an interesting discussion with DANIELLE and Felipe, two seasoned compensation experts. In about 45 minutes, they give you the blueprint to align compensation strategies with the business and make a difference in your role. We've distilled their perspective into this action-oriented guide, so you can start crafting compensation strategies that are lockstep with your organization's goals and priorities. Let us know what you think! #Compensation #CompensationAndBenefits #TotalRewards #CompensationStrategy #HumanResources

Compensation is more than just numbers—it's a reflection of your company’s values and vision. For businesses of all sizes, having a well-crafted, data-driven compensation strategy is essential to attracting top talent and achieving long-term success. However, crafting and managing such a strategy requires expertise. A compensation consultant brings invaluable insights, ensuring that your compensation practices align with your business goals and the ever-changing job market. Get Started today. Read more from the blog. #BlogPost #CompensationManagement #JobMarket #Strategies #NewLaunch #ConsultingDirectory #Payfederate

Why is trust actually important, and how can you embed trust in your compensation practices? A report from Deloitte found that companies that are highly trusted by their people have 4x the market value than companies with low trust. There's a financial imperative behind building high trust environments. But how do you build it through your compensation practices? Two things help build trust: • Clarity - what we say we're going to do • Consistency - we do what we say we will How do you say you'll practice compensation? Most companies do this through their compensation philosophy. They define how why they choose to pay a certain way, and all the ways in which someone is 'rewarded' by working here. This makes it clear when people can expect to have a review, and the kinds of things that go into them. What about consistency? Here it's all about showing your homework. Does your compensation philosophy say you're an equitable employer? Cool. How does it show that? Why not try the following things: • Share your adjusted and unadjusted pay gaps. Talk about what you're doing to close them. • Do a debrief after compensation philosophies. Show your people where the budget went and how you stuck to your philosophy. • If it suits your culture, share the pay bands used for various roles. Help people understand where they can expect to be paid in this role or the next one. The bar is low when it comes to compensation practices that build trust. You just need to tell people how you aspire to pay, and then show them that you're sticking to it. Then people can see it's done right, and get back to work. What are the best ways you've seen companies build trust through their pay practices? — If you’re a Head of People interested in learning more about startup compensation practices, follow me Matt McFarlane for more