A clear compensation philosophy steers HR and recruitment teams onto the right path when it comes to setting pay according to job responsibilities, pay transparency, and tackling any pay equity issues that might be hiding under the surface.
In this episode of HR Unplugged, Vanessa and Anita chat with John Baldino, President of Humareso, live from Transform 2024 in Vegas. With over 30 years of HR experience, John delves into the importance of having a compensation philosophy, sharing insights on using data, addressing pay equity, and setting crystal clear job expectations.
He shares top-tier advice for HR teams, including smaller teams and solo HR professionals, on common pitfalls to avoid within your compensation policies. We hear why clear, up-to-date job descriptions (not job titles) should be the key focus of your compensation philosophy, plus how to find and solve equal pay issues in the workplace.
Key moments:
- Why a clear compensation philosophy is crucial
- How to navigate compensation data
- Why job descriptions are vital to get right
- Descriptions and Compensation
- Addressing pay equity issues
- Understanding the value of work when setting compensation
- Should you be transparent about pay?
- Why you should avoid over-extending
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