Comp and Coffee

Exploring metrics like turnover rates, ROI on compensation, and aligning with company goals. Importance of organizational goal alignment and SMART goals framework. Using marathon training schedule for measuring compensation. Strategic approach to compensation budgeting in 2021. Involving others in compensation planning for value addition in organizations.

Exploring the strategic importance of compensation in hiring and retention, aligning tasks with business goals, aligning personal and organizational goals for job performance improvement, and aligning job performance with business goals. The podcast discusses challenges in measuring compensation effectiveness, demonstrating its value, and the critical role of customer satisfaction and employee engagement in organizational success.

Exploring the value of compensation strategy in driving profit, managing risk, and supporting growth. Discussing how compensation professionals can align with business goals to show the value of compensation to executives.

Before we dive fully into 2020, we look back at the happenings of 2019 through the eyes of compensation. A comp retrospective, if you will.   Links to items we mention: Massachusetts Equal Pay Act (July 2018): https://bit.ly/30kDsi7 Minimum wage changes in 2020: https://abcn.ws/30jnvc8 Minimum Wage Map: https://www.minimumwagemap.com/ The NYT article on tax cuts: https://nyti.ms/2Tu686S The LA Times article on the same topic: https://bit.ly/30kcU0B Upcoming W@W Webinar, "How Should Compensation Be Measured?": https://bit.ly/2NotbMT

In this episode we discuss the importance of job descriptions, why compensation should own them, and then we cover some ways that keeping them updated can be relatively painless.

We talk a lot about how technology has changed compensation. But we don't often discuss how technology has changed how we work in general. In this episode we step back and do just that. We also discuss how to use technology in the right ways to help your productivity.

In this episode we discuss minimum wage changes and the associated compression that can occur with them.   To access the interactive Minimum Wage Map we mention, go to  https://minimumwagemap.com/

In this episode we give a quick recap of the only compensation conference that matters, CompCon.   You can keep up to date with CompCon 2020 happenings at https://compcon.com/   Here are the links mentioned in the episode: Gummy Bear Song (don't listen -- it'll get trapped in your head):  https://www.youtube.com/watch?v=astISOttCQ0 David Goggins on Comp & Coffee:  https://payfactors.com/david-goggins-comp-coffee/ BJ Fogg Tiny Habits(tm):  https://www.tinyhabits.com/

As our team gets ready for the second annual CompCon in San Francisco today, we're joined in this episode by our very own Kim Taylor, CCP, GRP. Kim joins us to discuss median versus outliers and what a focus on each means to compensation strategy.

On this episode we talk about some recent articles that featured compensation news, including searching for a higher paying job and on-demand access to earned wages.   Fortune article, "If You Want a Higher Paying Job, the Time to Quit is Now": https://fortune.com/2019/09/24/should-i-quit-for-a-higher-paying-job/   The Hustle, "The perk of werk: Companies are using ‘accelerated pay’ to entice new employees": https://thehustle.co/09232019-accelerated-pay-wages/