Webinar-5 Steps to a Painless Increase Cycle with PayScale Crew
If you’re looking to make a positive impact to your company's success, you should implement modern pay practices. Findings from the 2017 PayScale Compensation Best Practices Report, indicates a strong correlation between modern pay practices and business success. Top-performing companies view pay as an ongoing practice, and not an annual event. Compensation is also a key part of their culture and communicate clearly about their pay practices. Do you want to know more about how top performing companies manage compensation? Join PayScale as we discuss what top-performing companies do better than the rest. Register for this webinar and you’ll learn about: -Developing a market strategy and keeping it current -Extending and reinforcing your culture with compensation -Having effective pay conversations
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Webinar-5 Steps to a Painless Increase Cycle with PayScale Crew
- 1. 5 Steps to a Painless Increase Cycle with PayScale Crew
- 2. www.payscale.com The Annual Pay Change Process 5 Steps to Painless Increases PayScale Crew Walkthrough Questions Agenda
- 3. www.payscale.com How are you managing the annual increase process?
- 5. www.payscale.com How can you make the increase process easier?
- 7. www.payscale.com Compensation Calendar PAY INCREASES Enter/Audit adjustments Deliver Total Comp Reports Market study Develop trainings Determine % budget Performance eval Train management Decide on increases Goal setting for next FY
- 13. www.payscale.com Communication “Tell them what you are going to tell them, tell them, then tell them what you told them” Aristotle
- 14. www.payscale.com WIIFM? • When is it happening • How is it happening • Why is it happening • Who is responsible • How does it affect me
- 15. www.payscale.com 75% of pay conversations are between managers and employees Source: CEB
- 16. www.payscale.com 19% of organizations are ‘very confident’ in their managers abilities to have tough conversations about pay Source: 2016 PayScale CBPR
- 17. www.payscale.com Train Managers • What they should know • How they should frame • Who they should ask • When it should happen • Why it matters
- 19. www.payscale.com PayScale Crew Same page, not the same spreadsheet Have confident conversationsKeep it simple Make comp a team sport
- 21. www.payscale.com Takeaways • Timeline • Budget • Communication • Manager Training • Spreadsheets