Comp and Coffee
93 CBPR Highlights
May 7, 2024
Amy Stewart, CBPR author, and Lulu Seikaly, Payscale's Sr. Corporate Attorney, discuss pay transparency, AI in compensation decisions, minimum wage impacts, pay equity trends, and AI's role in reducing unfulfilling work. The importance of strategic compensation management to attract and retain talent, navigate legal landscapes, and foster employee trust and engagement is emphasized.
40:49
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Quick takeaways
- Embracing pay transparency leads to improved employee engagement and trust, driving talent retention and fostering a positive work environment.
- Implementing Artificial Intelligence in compensation decision-making can enhance productivity, but human oversight is crucial to prevent bias and ensure accuracy in pay decisions.
Deep dives
CBPR Report Overview
The podcast delves into PayScale's Compensation Best Practice Report (CBPR) released in March, providing insights based on a survey conducted in late 2023 with over 5000 responses segmented by company size and industry. The report covers various topics including pay increases, compensation strategy, salary data usage, pay analysis, and pay communications. Additionally, it explores trending topics like AI in compensation, skills-based workforces, unions, minimum wage, and pay transparency.
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