Comp and Coffee

Experts Amy Stewart and Lexi Clarke give insights into the job market trends for 2023. They discuss the top 10 in-demand jobs with wage growth, employee-reported data on job quitting trends, and predictions for 2024. Key takeaways include labor market conditions, pay transparency, and hot job predictions for the upcoming year.

Vicki, Liz, and Ruth discuss the gender pay gap -- what it is and how it's looking for next year. Is your organization taking necessary action to close the gap?   In this episode, we're peering into the future—2024, to be exact—to predict what changes lie ahead for the gender pay gap. Our guests, Vicky Peakman and Liz Sheffield, will be breaking down the factors that could impact who earns what, exploring everything from how workplaces are evolving to new policies on the horizon. Join us for this chat as we talk about the possibilities, making sense of what the working world might look like in just a few years and how we can bridge the gap together! Key Takeaways: Looking at potential predictions in the year 2024 on gender pay gaps. Setting your intentions straight The mean pay gap for full-time workers. Examining the uncontrolled pay gap versus the controlled pay gap. How will the gender pay gap evolve throughout the next year? Exploring how the pay gap reached its lowest amount during the pandemic. Do women of different races experience varying impacts from the gender pay gap? Measure your pay gaps at all times. Resources: 2023 Gender Pay Gap Report Payscale Website: www.payscale.com  Email: coffee@payscale.com 

Amy, Ruth, and Russ discuss remote work, RTO mandates, and the impact this is having on the workplace. How will new policies and expectations impact your workforce? In this episode, we delve into the dynamic landscape of remote work and the evolving scenarios surrounding return-to-office mandates. Explore the latest trends, challenges, and opportunities shaping the future of work as we navigate the intersection of technology, workplace culture, and the ongoing impact of global events.  From the thrill of flexible schedules to the challenges of Zoom fatigue, we're dissecting it all!   Key Takeaways: Remote work policies, expectations, and return-to-office policies Adjusting to the shift in our working environment Increase in hybrid and remote organizations compared to traditional offices Challenges when it comes to return to the office Is productivity really the issue when moving to remote work? Building company culture from a distance Differences in pay with remote and traditional workers Resources: Payscale Website: www.payscale.com  2023 Remote Work Report: https://www.payscale.com/research-and-insights/remote-work/ Email: coffee@payscale.com 

The podcast discusses the importance of pay transparency from an employee perspective, including the negative consequences of not sharing pay ranges. It explores the changing attitudes towards pay transparency among different generations in the workforce and the increasing comfort in sharing salary information with coworkers. The chapter also highlights the importance of pay transparency in building trust in the workplace and its benefits for both employers and employees.

Sara Hillenmeyer, Payscale's Director of Data Science, and Lulu Seikaly, Senior Corporate Attorney @ Payscale, join Ruth & Russ to discuss a recent article about two brothers who both drive for Uber. The brothers recently conducted an experiment. They opened their Uber apps while sitting in the same room, and tested which brother could earn more money to do the same work. They found that Uber showed them nearly identical jobs but offered to pay one of them a little better. The siblings could only guess why. Had Uber's algorithm somehow calculated their worth differently and how did they do that?   We discuss this topic and the broader implications of algorithmic pay. Related links: New NY Anti Bias in AI Law effective this month https://hrexecutive.com/why-ai-is-not-a-get-out-of-jail-free-card-for-talent-bias/?oly_enc_id=5456A4959923A9Y   The potential of "algorithmic wage discrimination":  https://www.npr.org/2023/04/25/1171800324/rideshare-drivers-raise-questions-about-how-algorithms-set-drivers-pay-rates?utm_source=facebook.com&utm_campaign=npr&utm_medium=social&utm_term=nprnews   

We discuss the growing number iniatives, such as those lead by 4dayweek.com, around the 4 day work week and the concept of 100:80:100.  100% pay for 80% time worked with 100% productivity targets. Is this working smarter, harder, both, or neither?     Related links: https://worldatwork.org/resources/publications/workspan-magazine/the-power-of-four    https://www.businessinsider.com/work-from-home-return-to-office-sexism-women-bosses-employees-2023-4?r=US&IR=T https://www.pewresearch.org/social-trends/2023/03/30/how-americans-view-their-jobs/  https://www.4dayweek.com/about-us https://www.wsj.com/articles/after-testing-four-day-week-companies-say-they-dont-want-to-stop-a06089cc https://www.cnbc.com/2023/02/24/worlds-biggest-4-day-workweek-experiment-shows-big-health-benefits.html#:~:text=Employers%20and%20workers%20around%20the,their%20health%2C%20finances%20and%20relationships ·         

Amy joins Ruth and Russ to share insights from our newest research report!  It's a first-of-its-kind look at the top reasons employees consider quitting their jobs, and specially looks at does pay transparency help to retain workers — or is pay transparency a retention risk?   Report Overview: https://www.payscale.com/research-and-insights/retention-report/ Report details: https://www.payscale.com/press-releases/new-payscale-research-reveals-top-drivers-behind-employee-turnover-and-the-impact-of-pay-transparency/  

Ruth, Bill, & Russ are joined by Amy to review the 2023 Payscale Compensation Best Practices Report (CBPR) and share their insightes.  How are things changing as we move into Q2 of 2023?

Ruth, Bill, & Russ have each selected a recent news story related to compensation to discuss.  Do you share their take on these topics? Ruth's Pick: Netflix stepped back on open salary policiy for execs Bill's Pick: FTC announced changes to outlaw non-compete clauses Russ's Pick: Disney's annnouncement that 'hybrid work' now means in office 4 days a week

Amy Stewart, one of the minds behind the annual Payscale CBPR report, joins Bill, Ruth, & Russ to discuss what jobs are hot and what are not going into 2023.