Comp and Coffee

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/

Bill's still on his trip to Tahiti. Kaite's still out running errands. And Shawn's still doing pull-ups thanks to that last podcast.   So today we're delivering the audio of a recent webinar we did in partnership with The Predictive Index. The topic was reducing pay inequality, and Payfactors' very own Kim Taylor joined Jackie Dube, VP of Talent Optimization at The Predictive Index to chat pay inequality and associated audits.   Want to hear more on this topic? Join us at CompCon on Oct 21-22 in SF. The head of total rewards at Salesforce will discuss their journey to pay equality. http://www.compcon.com

David Goggins, author of "Can’t Hurt Me: Master Your Mind and Defy the Odds" joins us to talk about his incredible life and what he learned along that way from perpetual victim to active duty Navy SEAL to world class ultra athlete and world record holder.   If this man doesn't serve as an inspiration, I'll need to check your pulse.   David covers: * Callousing your mind * Being uncommon amongst uncommon * Why you need a good cookie jar * The one thing he asks of you if you're coming to see him talk at CompCon   You're coming to CompCon, right? https://compcon.com/   Also check out David's book, "Can't Hurt Me: Master Your Mind and Defy the Odds" https://www.amazon.com/Cant-Hurt-Me-Master-Your/dp/B07KKP62FW

Cole Nussbaumer Knaflic from Storytelling with Data joins us on this podcast. Cole was previously on the people analytics team at Google. She joins us to talk about:   How to tell stories with data, and how to get people to remember what you want them to How to prepare for a key presentation Key tips and tricks to help sway your audience Check out Cole's book, "Storytelling with Data: A Data Visualization Guide for Business Professionals" that's out now, and pre-order her upcoming book, "Storytelling with Data: Let's Practice!"

On this special episode we cover the Business Roundtable's recent statement about taking all stakeholders -- not just shareholders -- into account, and what it means for compensation.   You can read the statement here: https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans   Other things we mentioned: - Salesforce's 1-1-1 pledge: https://www.salesforce.org/pledge-1/ - B-Corp: https://bcorporation.net/ - CompCon (JOIN US!): https://compcon.com/

Exploring the evolution of the compensation strategist, focusing on becoming a business ally. Discussing the impact of real-time data, senior management's focus on employee engagement, balancing fairness and individual value in compensation, effective communication for business success, and upcoming events and industry guidance.

The podcast delves into the role of a comp strategist, emphasizing the importance of organization and data management. They discuss freeing up time to communicate pay structures effectively across the organization, promoting transparency and understanding. The hosts highlight the challenges of simplifying complex topics for diverse audiences and the need for strategic negotiations in compensation discussions.