Comp and Coffee

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.

Exploring the transformation to a strategic compensation analyst, leveraging technology for efficiency, aligning rewards with business objectives, and securing a prominent position in organizational decision-making. Navigating industry evolution, data interpretation, and real-world scenarios like pay adjustments at Netflix. Emphasizing the importance of being well-informed, connected with managers, and having quick access to data. Highlighting the balance between essential tasks and strategic planning for long-term success within an organization. Discussing the potential of video podcasts, career transitions, and guest participation in future episodes.

In this episode we talk with Dr. Achyuta Adhvaryu, assistant professor at the University of Michigan. He recently completed a study on soft skills in the workplace, finding that soft skills training on-the-job boosts worker productivity and generates large returns for the firm.   Link to study: https://www.nber.org/papers/w24313.pdf

Heading into the July 4th holiday in the US we discuss the value of vacations and how they can affect your company.   Stats we cite during the podcast: Vacationers experience an 82 percent increase in job performance 34% take under half of their allotted PTO time each year For the first time in recorded history, more than half of Americans (55%) left vacation days unused, which equates to 658 million unused vacation days. ("Americans are effectively volunteering hundreds of millions of days of free work for their employers, which results in $61.4 billion in forfeited benefits.") People who took fewer than 10 of their vacation days per year had a 34.6% likelihood of receiving a raise or bonus in a three-year period of time. People who took more than 10 of their vacation days had a 65.4% chance of receiving a raise or bonus. Arianna Huffington Deletes Employee Emails

You've no doubt received this question in interviews. "What's your biggest weakness?" But this episode goes well beyond that.   We welcome Rick Mace, former startup CEO and current executive partner at Siris Capital to the podcast to discuss:    * Why your strengths are also your weaknesses  * How you can identify your strengths (and weaknesses)  * A real-time strengths and weaknesses identification   Did you catch that this week's topic is strengths and weaknesses?