Transform Your Workplace Navigating Compensation Transparency and Employer Strategies in the Age of Information with Nicole Blevins
Jun 18, 2024
Nicole Blevins, an HR expert from Xenium HR, dives into the transformative impact of generative AI on salary negotiations. She discusses how employees now harness tools to access salary data, shifting the power dynamic toward them. Nicole emphasizes the importance for employers to base compensation on verified data and to communicate their pay structures transparently. She also highlights the necessity of accurate job descriptions for fair pay alignment and the need for ongoing employee education about compensation.
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Employees Use AI To Shift Salary Power
- Employees now use generative AI and public sites to get salary ranges, shifting negotiation power toward workers.
- Employers must match that by bringing validated, employer-reported compensation data to the conversation.
Base Pay On Duties, Not Just Titles
- Build compensation ranges from accurate job duties, not just job titles, and validate the market sources.
- Tailor market data to your organization's size, revenue, geography, and industry before comparing.
Educate Employees On Pay Drivers
- Educate employees on the factors driving pay differences so comparisons are apples-to-apples.
- Explain industry, size, benefits, and geography influences to reduce mistaken expectations.