Comp and Coffee

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.

Ruth, an expert in compensation trends, Bill, an industry veteran, and Russ, a seasoned professional, each share their bold predictions for 2023 in the compensation space. They discuss anticipated salary increases and the growing importance of effective communication around compensation strategies. The trio also dives into the evolution of remote work, forecasting a rise in structured pay models and national wage standards for remote roles. They highlight the necessity of pay transparency, especially in light of evolving legislation, and stress the significance of engagement to retain talent in a competitive landscape.

Vicky, Bill, & Russ discuss the increasing numbers of pay disclosure laws that are going live in a variety of cities, counties, and states.  What will be the impact and how does a compensation or HR professional stay proactive?

Ruth, Bill, & Russ discuss the 'new' phenominon of "Quite Quitting."  Excactly what is it? Is it different from 'work to rule' and other such movements?  How should we as HR and compensation professionals respond?

Vicky, Bill, & Russ discuss the importance and impact of the HR to an organization, a role which happens to be predominantly female, and contrasts it to the importance and impact of finance, a role which happens to be predominantly male.  Are these to critical functions and career paths compensated equally?  Should they be? If not, why not? 

Bill, Matt, Ruth, & Russ explore the pros and cons of employees doing their own salary market research and how to handle the conversation.

As economic uncertainty looms, leaders discuss strategies for managing compensation to retain talent. They draw parallels between past crises and today’s challenges, emphasizing the cyclical nature of economic turmoil. Personal experiences from previous downturns highlight the importance of communication and thoughtful decision-making. The critical role of data in ensuring fair compensation practices is spotlighted, along with a focus on equity and transparency, especially for lower earners, to maintain engagement and uphold social responsibility.