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💰 Navigating Pay Transparency: Setting the Right Compensation Range 💰 With new pay transparency laws, conversations about compensation have shifted. It's more crucial than ever to get it right! Here’s how you can set a competitive pay range to attract top talent without stretching your budget: 1. 📊 Do Your Research: Keep up with industry standards and local salary trends. Use benchmarking tools and job boards to ensure your offers are competitive. 2. ⚖️ Maintain Internal Equity: Pay transparency means employees talk. Ensure fairness by aligning compensation within your team to avoid internal pay disparities and keep morale high. 3. 💼 Consider Total Compensation: Compensation is more than just a paycheck. Highlight your benefits, bonuses, and perks like health coverage, 401(k), or remote work options. Candidates are looking for comprehensive packages that reflect your company’s culture and values. 4. 📅 Be Flexible: If your salary budget is limited, offer what you can in other ways—flexible hours, remote work, or career growth opportunities can be big draws. By thoughtfully balancing competitive pay with strategic flexibility, you can attract the right talent and keep your teams motivated. For a deeper dive, read our blog: https://lnkd.in/gE43r69n #HiringTips #CompensationStrategy #PayTransparency #PACEStaffingNetwork

Can there be pay transparency without pay equity? Pay equity is the first step towards pay transparency. Being transparent about your pay indicates that you have achieved or are working towards pay equity. Employees and incoming candidates appreciate working in a company that is transparent about its equity efforts.

Talent Attraction and Pay Transparency - a zero-sum game? Today, I read a very enlightening post about the EU Pay Transparency Directive. Thank you, Carmen, for the great summary! While thinking about it, I could see the the battle between supporters and opponents in the Talent Attraction space unfold very vividly... I guess there are reasons on both sides, some more, some less persuading. But let's take a holistic view of the issue: Regardless of what the legal basis will look like, I am convinced that a transparent and comprehensible salary structure in particular would help generally. There's yet no way of knowing whether we need to put salaries in the job ads, or not. However, I believe that salaries alone are not enough. To really bring them to life, you also need good, objective and transparent performance management as well as a clearly structured and comprehensible career ladder. When it comes to hiring, those three topics make your life unmeasurably easier! You can make very clear statements that enable everyone to take a decision based on facts, not promises. And - even more importantly - you can't offer different packages to equally qualified people because of biases or gender (which unfortunately still happens for whatever reasons)! So truth is - once again - somewhere in the middle, but it isn't a zero-sum game for sure! A transparent compensation strategy is another step towards pay equity and thus a major pillar in all DE&I efforts. What do you think?

Pay transparency is growing in US companies. According to a study by Payscale 60% of organizations now publish salary ranges when advertising jobs, an increase of 15% over last year. (link to the article in the comments) Publishing salaries on job postings may be a new requirement in many states, but you'll need to do more internally so employees aren't caught off-guard when they see these postings. As someone who's been in the workforce for 20+ years, talking about pay feels taboo, but not so for this new generation of workers. More employees are asking questions about their pay, and as Lexi Clarke mentioned, they're expecting "transparent pay practices and meaningful raises." Pay equity is becoming more important than ever. It's table stakes for recruiting and retaining top talent. Yesterday, Regroup hosted a webinar by Sally Loftis, MSOD (she/her/hers) (an expert in pay equity) and I learned a ton. Like, if you're doing benchmarking, look at where your employees are going. (Curious about future webinars for HR leaders? Sign up for our newsletter at regroup.co) What are some best practices you're learning about pay equity and pay transparency?

Pay Transparency Matters - Here’s Why: As a recruiter, I think the lack of pay transparency in our industry sucks. Plain and simple. Whenever I speak with candidates, I like to address compensation early on. But you know what bums me out? When I can tell a candidate feels uncomfortable talking about pay. When companies or recruiters take advantage of candidates who are underpaid and don’t know their worth. Here’s the thing: Compensation must make sense for a candidate to make a move. That’s why I prioritize transparency in every conversation - with both candidates and clients. Yes, I’ve told candidates when they’re being severely underpaid. Yes, I’ve told clients they won’t attract the talent they want with their current pay structure. And yes, I’ve been upfront with candidates when we can’t meet their compensation expectations - and I don’t drag the conversation on. I’m a headhunter. I’m not chasing talent looking for lateral moves. I want my opportunity to make sense for the candidate. I want it to feel like a progression in their career. I’m creating synergy between talent and clients, where compensation aligns with skills, experience, and market realities. The smoothest searches? They’re always with clients who understand the market and value the talent they want to bring on. Let’s normalize transparency in compensation conversations - it’s better for everyone involved. If you are candidate in the market - I want to hear from you on how you handle the compensation conversation. What can companies and recruiters do to make compensation discussions smoother and more comfortable?

𝐖𝐡𝐲 𝐏𝐚𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐈𝐬𝐧’𝐭 𝐭𝐡𝐞 𝐎𝐧𝐥𝐲 𝐀𝐧𝐬𝐰𝐞𝐫 Nearly 2 out of 3 job seekers expect to see salary ranges in job descriptions. But here’s a question for you: 𝐈𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐢𝐧𝐠 𝐩𝐚𝐲 𝐞𝐧𝐨𝐮𝐠𝐡 𝐭𝐨 𝐚𝐭𝐭𝐫𝐚𝐜𝐭 𝐭𝐨𝐩 𝐭𝐚𝐥𝐞𝐧𝐭 𝐚𝐧𝐝 𝐫𝐞𝐭𝐚𝐢𝐧 𝐡𝐢𝐠𝐡 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐞𝐫𝐬? Transparency is great, but it’s not the whole story. Pay is just one piece of the puzzle—what about your total rewards strategy? Two companies offering the same pay can have drastically different value propositions when you look at the big picture: 𝐛𝐚𝐬𝐞 𝐩𝐚𝐲, 𝐛𝐨𝐧𝐮𝐬𝐞𝐬, 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬, 𝐚𝐧𝐝 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬. If you’re focused on attracting high-tech talent, you’ve got to think beyond the paycheck. Here’s the real question: 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐰𝐨𝐫𝐤𝐟𝐨𝐫𝐜𝐞 𝐨𝐧 𝐡𝐨𝐰 𝐩𝐚𝐲 𝐰𝐨𝐫𝐤𝐬 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐭𝐡𝐞𝐲 𝐠𝐞𝐭 𝐢𝐧 𝐭𝐨𝐭𝐚𝐥? Consider this: 60% of organizations don’t train managers to talk about pay. If you get ahead of this, you’ll create a culture of trust and transparency without needing to publish every salary. Ready to dig deeper into total rewards? Let’s chat. Drop a comment or reach out directly to discuss how we can design a compensation strategy that attracts and retains the best talent in tech. Read more: https://lnkd.in/ea-Gr4q6 #HRstrategy #CompensationBenchmarking #TotalRewards #EmployeeEngagement

💲 🪟 If Pay Transparency Was Easy, Everyone Would Be Doing It!! True pay transparency goes beyond simply listing pay ranges in job postings. It involves effectively communicating the process behind your pay program to establish TRUST 🟰 The real goal of transparency. Lack of information leads employees to speculate or rely on potentially inaccurate public data, causing confusion and mistrust. To combat this, consider the following steps: - Establish pay ranges and structures using reliable and relevant data. - Implement a consistent methodology. - Document pay policies and practices and apply them consistently. - Develop a compensation philosophy to steer decision-making. - Create a communication strategy to relay information effectively. ✔️ That's the short list, but it's a great start! If you're ready to dispel confusion and foster trust within your organization, reach out to me for assistance with: relevant and reliable data, guidance on pay policies and practices, crafting a compensation philosophy, job leveling, communication strategies, and more.

You think people don't know what their peers are being paid. You're probably wrong. 83% of Gen Zers are comfortable sharing their salary. This is one of the key findings from USA Today's Blueprint survey: 💰 52% of participants believe salary transparency is helpful in attracting and retaining talent. 💰 58% think employers should take the lead in promoting salary transparency, while 29% think the responsibility lies with employees. Here's my belief. If you're doing the right thing, then you should have nothing to hide. Pay transparency will help close the wage gap, increase your ability to attract top talent, and retain people. The way pay works in most organizations can be confusing, even for members of the HR team who are responsible for communicating this information to employees. It doesn't have to be, which is why I created a course for Udemy on Navigating Pay Transparency Conversations. Participants will learn how to: ➡️ Get comfortable discussing pay with your employees and your manager. ➡️ Successfully advocate for pay adjustments for your team AND yourself. ➡️ Confidently discuss pay issues with your boss. For the next 5 days only, I'm offering this course at 50% off the regular price. That's about a $100 savings. Click below to take advantage of this offer. https://lnkd.in/etE53vEs Please share this post so that people in your network don't miss out! After all, everyone deserves to be paid fairly. #USATODAY, #paytransparency, #topvoice, #topvoices, #robertamatuson

Inside Pay Decisions: Black & White or Shades of Gray? ALTERNATIVE 1 - Black & White: I’ve worked with a few employers who have pay decision tools (Excel spreadsheets) that tell the user what the employee or new hire should be paid based on a few factors. The factors are usually one or more of the following: ·        Years of relevant experience ·        Performance rating ·        Education and training ·        Seniority The spreadsheet has fields that are filled in based on these factors. Then there is a calculation that says here is where the employee should be paid within the base salary range assigned to the job. This is a very black and white way of making pay decisions. And it doesn’t include the review of other employees and their pay (internal equity) at that point in time. ALTERNATIVE 2 - Shades of Gray: The alternative to this is using those same factors but determining where to pay using discretion and judgement. For example, the image associated with this post divides the base salary range into three zones. ·        Bottom third of the range = Learning ·        Middle third of the range = Role Modeling ·        Top third of the range = Demonstrating The description of each zone is compared to the factors associated with each employee or new hire. And other employees doing comparable work and their pay are also reviewed. In other words, internal equity is considered. What is your preference? 1)        Calculate the employee’s or new hire’s base pay (black and white) 2)        Use discretion and judgment to determine the base pay (shades of gray) And given the pay equity and transparency focus we have today, do you think 1 or 2 will be what employers move towards in the future? https://lnkd.in/g_nQhnxa #pay #compensation #rewards #hr #humanresources #payequity #paytransparency #fairpay #internalequity #paydecisions

Pay transparency is increasingly becoming a norm in the U.S., driven by legislation and a societal push for equity. Understanding and implementing pay transparency can benefit business owners significantly, enhancing employee trust and improving recruitment and retention. This practice involves disclosing salary ranges in job postings, providing pay scale information upon request, and maintaining transparent internal pay policies. #BusinessOwners #Pay #PayTransparency https://lnkd.in/eNSpjqS3