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CreatingPayTransparencyin
theWorkplace
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Rusty Lindquist
V P O F H C M I N S I G H T A N D
T H O U G H T L E A D E R S H I P
Rita Patterson
M A N A G E R O F C U S T O M E R
E D U C A T I O N
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
• Pay Transparency Matters
• Defining Transparency
• The Transparency Spectrum
• Moving to Greater Transparency
• Immediate Actions
Agenda
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Pay Transparency
gets everyone in the same
boat, paddling in the
same direction.
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Why Would Anybody
be More Transparent
about Pay?
Pay Transparency
Trust
Better Business
Outcomes!
Engagement
Employees who perceive a ‘fair and
transparent pay practice’have lower
intent to leave and higher satisfaction
PERCENT OF
RESPONSES
LOW AVERAGE HIGH
50% 31% 19%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
1 2 3 4&5
% Responses with Intent to Leave % Responses with High Satsifaction
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Workforce Demographics…
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
… are changing
Everybody’s
doing it…
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
...whether they want to or not
• CEO to worker ratios
• 990s
• Say on Pay
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Defining Transparency
Defining Transparency
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
What are we being
transparent about?
• Pay Philosophy
• Pay Strategy
• Pay Practices
• Market Studies
• Pay Rates
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Pay Philosophy
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
• Defining the competition
• Aiming to meet or exceed the competition
• Deciding what matters
• Acknowledging various segments
Pay Strategy
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Pay Practices
• Have a plan
• Jobs have grade assignments
• Range minimums / Range
maximums
• Increase process / cycle
• Budget process / cycle
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Market Studies
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Salary Rates
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
The Transparency Spectrum
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
The PayScale Pay Transparency Spectrum
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
1. Paycheck
“Here’s what you get paid”
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
2. Market Data
“Here’s how we use market data to set pay”
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
3. Comp Plan
“Here’s where your pay falls in range”
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
4. Culture
alignment
“Here’s why we
pay like we do”
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
5. Open Salary
“Here’s everything you want to know about
everyone’s pay”
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Gartner Hype CycleVISIBILITY
TIME / MATURITY
Trigger
Peak of Inflated Expectations
Trough of Disillusionment
Slope of
Enlightenment
Plateau of Productivity
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Adoption CurveVISIBILITY
INNOVATORS
EARLY
ADOPTERS
EARLY
MAJORITY
LATE
MAJORITY
LAGGARDS
Chasm of Wants
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Moving to greater
transparency
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
• Explain what transparency is (and isn’t)
• Link transparency with results that matter
Gain executive support
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
• Provide information about the business, rationale for
increasing communication, and tools for success
• Expect more to get more
• No really, train them on communication
Train Managers
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
• What’s the makeup of your workforce?
• Are they ready for more transparency?
• Do they want it?
Assess Workforce
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Get clear about roles
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Develop a plan
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Functional Transparency
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Immediate Actions
• Assess your workforce
• Educate yourself further about transparency
• Notice what you already do in your org
• Think about what “pushing the envelope”
means to you
• Begin talking with your executives
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Follow BambooHR and PayScale on social media:
bamboohr.com/blog | payscale.com/compensation-today
Thank you!
C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E
bamboohr.com payscale.com
Questions?
BambooHR
Receive a free job posting on our ATS and full HRIS for one week.
We will contact everyone within the next few days to set this up.
Download a free ebook on Pay Transparency.
PayScale
http://resources.payscale.com/hr-ebook-pay-transparency-spectrum.html

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Webinar-The Challenge of Pay Transparency

  • 2. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Rusty Lindquist V P O F H C M I N S I G H T A N D T H O U G H T L E A D E R S H I P Rita Patterson M A N A G E R O F C U S T O M E R E D U C A T I O N
  • 3. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com • Pay Transparency Matters • Defining Transparency • The Transparency Spectrum • Moving to Greater Transparency • Immediate Actions Agenda
  • 4. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Pay Transparency gets everyone in the same boat, paddling in the same direction.
  • 5. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Why Would Anybody be More Transparent about Pay? Pay Transparency Trust Better Business Outcomes! Engagement
  • 6. Employees who perceive a ‘fair and transparent pay practice’have lower intent to leave and higher satisfaction PERCENT OF RESPONSES LOW AVERAGE HIGH 50% 31% 19% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 1 2 3 4&5 % Responses with Intent to Leave % Responses with High Satsifaction
  • 7. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Workforce Demographics…
  • 8. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com … are changing
  • 10. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com ...whether they want to or not • CEO to worker ratios • 990s • Say on Pay
  • 11. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Defining Transparency Defining Transparency
  • 12. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com What are we being transparent about? • Pay Philosophy • Pay Strategy • Pay Practices • Market Studies • Pay Rates
  • 13. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Pay Philosophy
  • 14. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com • Defining the competition • Aiming to meet or exceed the competition • Deciding what matters • Acknowledging various segments Pay Strategy
  • 15. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Pay Practices • Have a plan • Jobs have grade assignments • Range minimums / Range maximums • Increase process / cycle • Budget process / cycle
  • 16. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Market Studies
  • 17. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Salary Rates
  • 18. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com The Transparency Spectrum
  • 19. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com The PayScale Pay Transparency Spectrum
  • 20. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com 1. Paycheck “Here’s what you get paid”
  • 21. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com 2. Market Data “Here’s how we use market data to set pay”
  • 22. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com 3. Comp Plan “Here’s where your pay falls in range”
  • 23. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com 4. Culture alignment “Here’s why we pay like we do”
  • 24. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com 5. Open Salary “Here’s everything you want to know about everyone’s pay”
  • 25. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Gartner Hype CycleVISIBILITY TIME / MATURITY Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity
  • 26. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Adoption CurveVISIBILITY INNOVATORS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY LAGGARDS Chasm of Wants
  • 27. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Moving to greater transparency
  • 28. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com • Explain what transparency is (and isn’t) • Link transparency with results that matter Gain executive support
  • 29. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com • Provide information about the business, rationale for increasing communication, and tools for success • Expect more to get more • No really, train them on communication Train Managers
  • 30. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com • What’s the makeup of your workforce? • Are they ready for more transparency? • Do they want it? Assess Workforce
  • 31. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Get clear about roles
  • 32. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Develop a plan
  • 33. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Functional Transparency
  • 34. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Immediate Actions • Assess your workforce • Educate yourself further about transparency • Notice what you already do in your org • Think about what “pushing the envelope” means to you • Begin talking with your executives
  • 35. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Follow BambooHR and PayScale on social media: bamboohr.com/blog | payscale.com/compensation-today Thank you!
  • 36. C R E A T I N G T R A N S P A R E N C Y I N T H E W O R K P L A C E bamboohr.com payscale.com Questions? BambooHR Receive a free job posting on our ATS and full HRIS for one week. We will contact everyone within the next few days to set this up. Download a free ebook on Pay Transparency. PayScale http://resources.payscale.com/hr-ebook-pay-transparency-spectrum.html