Uncommon things that top performing HR professionals do

bamboohr.com payscale.com2 Employ best pay practices... Top Performing Companies …• Have Transparent Pay Practices • Develop Competitive Strategies • Pay Their People Where to start... b

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bamboohr.com payscale.com

4 Pillars of Success

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1

Create a great place to work

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Broken Windows

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Environment Impacts

Behavior

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Mission / Purpose Values / Beliefs Communication Practices

Reward / Recognition Policies / Procedure Comp Strategy

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Everything you do becomes part of that story…

The story of what you value

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The story of

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2

Employ best pay practices

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Top Performing Companies …

• Have Transparent Pay Practices

• Develop Competitive Strategies

• Pay Their People Where to start

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Transparent Pay Practices

of top performing companies are transparent about pay

vs 40% of all companies

47%

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Decide on the right level of transparency for your organization

The PayScale Pay Transparency Spectrum

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It’s time to clean house

Before taking the doors off your cupboards, clean them out.

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Effective communication mitigates pay concerns

of employees are ok with low pay if the rationale is explained

But…

82%

of companies are confident in managers’

ability to have tough pay conversations

17%

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Job Information

Teach managers to discuss market reports

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Total Compensation Statement

• Prepare your managers

• Explain the report

• Give them talking points

• Anticipate employee questions

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Equal isn’t necessarily fair

Keep an eye on your hot jobs Pay more where you have to.

ONE-STRATEGY-FITS-ALL SEGMENTED WORKFORCE

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How aggressively to

pay

What to reward

Performance, Experience, etc

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Millennial Strategy

of top performing companies will change their strategy for millennials

vs 28% of all companies

35%

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Pay your people

of top performing companies gave increases in 2015

Vs 84% of all companies

90%

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Company culture, compensation philosophy, and compensation strategy

Base pay plan Variable or incentive pay plan Individualized rewards &

recognition

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Know what motivates

• Passes to sporting events

• Days off after big deadlines

• In office massages

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Need help getting started ?

• Get to know the makeup of your workforce; ask what motivates them

• Review all elements of your comp plan, especially strategy and mix of pay

• Decide how transparent you would like to be; start mapping the steps to

get there

• Do a market study to see whether you are, in fact, paying your people

• Do an internal audit to ensure you’re paying fairly

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3

Focus on their people

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GREATNESS

PEOPLE ARE CAPABLE OF

but are too often held back by

SELF IMPOSED LIMITATIONS

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There’s a light that shines in each of us , sometimes we just need help focusing it.

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Finding Their Superpower

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@rustylindquist

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Thank you !

BambooHR

Payscale

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