I Hate It Here

S2 E10: Why the Odds of Achieving Equitable Pay Are Never in Our Favor, with Enrique Esclusa

Nov 8, 2023

Enrique Esclusa, co-founder and co-CEO of Assemble, discusses the challenges of achieving equitable pay, the importance of transparent compensation, and the role of market data in decision-making. He emphasizes the need for fair practices and highlights the benefits of using a platform like Assemble. The podcast explores the misalignment between leadership and HR, the downsides of traditional compensation management, and the root cause of compensation problems.

57:51

Episode guests

Enrique Esclusa

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Episode notes

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Quick takeaways

Misalignment between leadership, HR, recruiting, and finance can lead to inadequate compensation decisions, employee dissatisfaction, and attrition.

Using spreadsheets for compensation management can result in inconsistent practices, lack of transparency, and increased employee dissatisfaction.

Transparency in compensation is crucial for building trust, empowering employees, and attracting and retaining motivated talent.

Deep dives

Misalignment in Compensation Management

Misalignment between leadership, HR, recruiting, and finance is a common mistake in compensation management. Conflicting views on how compensation should be administered across employees can arise, leading to issues. For example, a recruiter may want to offer higher pay to close a candidate, while finance may want to stick to a predetermined budget. Misalignment between leadership and the HR or compensation team's philosophy on compensation can also cause tension. This misalignment can lead to inadequate compensation decisions, employee dissatisfaction, and attrition.

Introduction

2min

Compensation Transparency, Equity, and the Possible Comeback of Performance Ratings

2min

Challenges of Compensation Management and Equitable Pay

22min

Misconceptions and Challenges of Equity in Compensation Packages

3min

Importance of Educating Employees on Compensation and Equity

23min

The Significance of Compensation and the Role of Market Data

2min

The Frustration of Market Data and the Willingness to Help with Compensation

2min

It’s not that HR doesn’t want to pay you equitably… It’s that sometimes we just can’t. The odds are… rarely ever in our favor. So what can we do to eliminate the constant source friction that pay inequity causes?

Hebba dives into the complex world of compensation management with guest Enrique Esclusa, co-founder and co-CEO of Assemble. They unravel the reasons why understanding equity as an employee is so important, the role of market data in decision-making, and the challenges HR departments face in managing pay equity and transparency.

Enrique shares insights on how misalignment between leadership, HR, recruiting, and finance can lead to compensation problems, and emphasizes the need for fair and consistent practices.

Plus, can we finally just be done with the shortcomings of spreadsheet compensation management? Enrique certainly thinks so—he explains the benefits of using a platform like Assemble to streamline the process and ensure pay transparency and equity.

00:00:00 - Assemble: Revolutionizing Compensation Management Platform

00:01:02 - HR Hot Take

00:02:50 - Avoiding Common Mistakes in Compensation Management

00:05:57 - Aligning Leadership and HR

00:10:56 - The Downside of Traditional Compensation Management

00:16:48 - Boosting Employee Morale with Transparent Compensation

00:25:08 - Understanding Equity: 3 Key Factors

00:31:46 - The Importance of Data in HR Compensation

00:40:50 - Addressing Pay Equity in DEI Programs

00:47:52 - The Root Cause of Compensation Problems

00:53:57 - HR's Potential to Fix Compensation Problems

For even more exclusive insider content, don’t forget to check out my YouTube page.

Learn More About Assemble:

Website: https://www.assemble.inc/demo

Follow Enrique:

LinkedIn: https://www.linkedin.com/in/enrique-j-esclusa/

Follow Hebba:

YouTube: https://www.youtube.com/@ihateit-here/videos

LinkedIn: https://linkedin.com/in/hebba-youssef

Twitter: https://twitter.com/hebbamyoussef

15Five is the performance management platform that drives business results and gives HR teams a complete solution to deliver high employee performance, engagement, and retention while improving manager effectiveness.

Find out more about 15Five here.