webinar-5 steps to a painless increase cycle with payscale crew
TRANSCRIPT
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5 Steps to a Painless Increase Cycle with PayScale Crew
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The Annual Pay Change Process
5 Steps to Painless Increases
PayScale Crew Walkthrough
Questions
Agenda
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How are you managing the annual increase
process?
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Survey Results
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How can you make the increase process easier?
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Timeline
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Compensation Calendar
PAY INCREASES
Enter/Audit adjustmentsDeliver Total Comp Reports
Market studyDevelop trainings
Determine % budgetPerformance eval
Train management
Decide on increasesGoal setting for next FY
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Increase Timeline example
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Budgeting
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3% …why?
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Communication
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Communication
“Tell them what you are going to tell them, tell them, then tell them what you told them”
Aristotle
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WIIFM?
• When is it happening
• How is it happening
• Why is it happening
• Who is responsible
• How does it affect me
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75% of pay conversations
are between managers and employees
Source: CEB
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19%
of organizations are ‘very confident’ in their managers abilities to have tough
conversations about pay
Source: 2016 PayScale CBPR
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Train Managers
• What they should know
• How they should frame
• Who they should ask
• When it should happen
• Why it matters
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Spreadsheets
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PayScale CrewSame page, not the same spreadsheet
Have confident conversationsKeep it simple Make comp a team sport
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Live Demo
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Takeaways
• Timeline
• Budget
• Communication
• Manager Training
• Spreadsheets
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Questions?
http://www.payscale.com/hr/product-crew