Kaitlyn Knopp’s Post

We have the technology to make your compensation cycles easier, as well as the expertise to make your compensation programs more competitive and fair -- reach out to learn more! #comp #comptech #learn #hr #hrtech #tech #software

Pay equity has become a common term for HR professionals and simply means fair and consistent compensation of employees based on their skills, qualifications, responsibilities, and performance with no special preference for race, gender, age, ethnicity, or other characteristics. The move to improve pay equity has become increasingly important to most organizations, and 5 focus areas can help in our efforts: 1. Establish clarity and governance in the hiring process 2. Clarity in job designs, titles, and grades 3. Salary ranges 4. Degree of transparency 5. Evaluate program effectiveness Our economy is in a constant state of change, and so must the way we handle hiring, work patterns, and pay trends. It’s an ongoing process, one that will need constant evaluation as you keep pay equity in view and practice. #HRStrategies #PayEquity #HRTrends

HBR Says You WON'T Believe What Happens When You Learn Your Coworker's Pay! So, Feeling underpaid? Thinking salary transparency is the key to a happy workplace? Hold on to your hats! A new Harvard Business Review study reveals shocking truths about salary transparency and its impact on motivation. Will it light a fire under you, or leave you feeling demotivated? Want to know if transparency is a motivator or a demotivator? Read all about it, and tell us what YOU think! https://bit.ly/2PlZX3m #SalarySecret #MotivationMythBusters #TimeToTalkMoney

In the #competitive landscape of #talent_acquisition, the traditional approach of basing salary offers on a candidate’s current #compensation is becoming increasingly outdated. Instead, forward-thinking companies are recognizing the value of aligning compensation with the skills and potential value a candidate brings to the table. When companies fixate on a candidate’s current or past #salary, they risk perpetuating wage disparities and overlook the actual contributions an individual can make. This practice can inadvertently reinforce historical pay inequities, particularly affecting #women who have been systematically underpaid. Moreover, the rapid evolution of technology and business models means that the skills required for success today are vastly different from those of the past. A candidate’s ability to adapt, learn, and apply new skills is far more indicative of their potential impact than their salary history. By focusing on skills, companies can ensure they are offering #competitive compensation that reflects the market demand for those abilities. This not only helps in attracting top talent but also fosters a culture of fairness and #meritocracy. Furthermore, skill-based compensation encourages professional development, motivating employees to continuously improve and stay relevant in their field. It’s a win-win: employees feel valued and incentivized to grow, while companies benefit from a workforce that’s equipped to tackle current and future challenges. In conclusion, as we navigate a dynamic business environment, it’s imperative for companies to adopt a more strategic and equitable approach to compensation. By prioritizing #skills over salary history, organizations can build a #resilient, #innovative, and #diverse workforce poised for long-term success. This shift in compensation philosophy is not just about fairness; it’s a #strategic move to ensure that businesses are prepared for the #future. Companies that embrace this change will be better positioned to thrive in an ever-evolving economic landscape.

Why Are We Still Asking Candidates to Disclose Compensation? I recently had an interview where the HR of NoBrokerHood asked for both my current and past compensation details. When I politely declined to share this information, stating that I’d prefer to focus on the role, my skills, and the value I can bring to the company, I was told my candidacy would no longer be considered. This experience made me reflect on how outdated and counterproductive these practices can be. Compensation should be based on the value a candidate brings to a role, not what they’ve earned in the past. Here’s why: It Perpetuates Wage Inequality: Asking for current or past compensation often perpetuates historical pay gaps, especially for women and underrepresented groups. It Undermines Merit: Candidates should be evaluated based on their skills, experience, and potential—not their salary history. It Sets the Wrong Focus: The conversation should be about the role, the responsibilities, and how both parties can mutually benefit from the collaboration. To all the HR professionals and recruiters out there: I encourage a shift in focus. Let’s talk about what really matters—capabilities, growth potential, and alignment with the company’s goals. Pay should reflect that, not history. What are your thoughts on this practice? How can we move towards more equitable and future-focused hiring processes? #HiringPractices #WageEquality #FutureOfWork #FairHiring #Compensation

Compa-ratio is the most used metric in remuneration and is often tied to annual pay increases for many companies. Market best practice dictates that the ideal range is 0.8 to 1.2. 💬 What do you think is the ideal range in your company?

💼 The Salary Discussion Taboo: Breaking Down Employer Resistance 💡 Have you ever wondered why employers discourage or outright forbid employees from openly discussing their compensation? Transparency breeds empowerment 💪, yet when it comes to salary discussions, many employers opt for opacity. 💰💰💰Salary discrepancies between employees performing similar roles can lead to resentment and disengagement. By keeping salaries under wraps, allows employers to maintain a semblance of control over internal dynamics. Divulging salary details can unveil inequalities within the workforce. Discrepancies based on gender, pedigree, or other factors can be glaring when employees compare their compensation packages. Addressing these disparities may necessitate uncomfortable conversations and potentially costly adjustments for employers. 🧐 🧐 🧐 As transparency gains traction in modern workplaces; Companies embracing openness about compensation foster trust and demonstrate commitment to fairness. ⚖ ⚖ ⚖ Salary transparency can be a powerful tool for attracting and retaining top talent. Prospective employees are increasingly prioritizing organizations that are forthcoming about compensation practices, viewing transparency as a reflection of company culture and integrity. 🔍 🔍 🔍 While the reluctance to discuss salaries may stem from various concerns, embracing transparency can ultimately lead to a more equitable and harmonious work environment. By dismantling the taboo surrounding salary discussions, employers can foster trust, empower their workforce, and demonstrate a commitment to fairness and equality. 🎭 🎭 🎭 What are your thoughts on salary transparency in the workplace? I would love to learn from more perspectives this appraisal season ! #SalaryTransparency 💰 #WorkplaceEquality 🌐 #ProfessionalDevelopment 💼 #OpenDialogue 🗣️ #Empowerment 💪 #FairnessForAll 🤝 #Appraisal

It’s wonderful when our clients just get it. It’s refreshing when we don’t have to convince people about pay equity and fair compensation. That openness to change is wonderful for us who work in the HR space. ThoughtExchange in B.C. was one such client for us. They hired us to do a #compensation #analysis and create a #compensation #structure for them. When people get it, they resonate with us and the synergy makes the project so much more fulfilling --- and fun! And that’s why we like highlighting them.

Can we normalize salary discussion with our peers and colleagues?  Different generations have different views on this matter.  We know that the older generation often prefers not to disclose their compensation details.  However, Millennials and Gen Z are much more inclined towards transparency.  They turn to platforms like Glassdoor to familiarize themselves with a company's pay policy before signing onboard.  Indeed, the more open a company can be about its pay policy, the higher the trust they can build with their employees.  Still, it's important to maintain a certain level of confidentiality around pay structures for various reasons.  So, how can a company create this balance? Here are three suggestions: ↪ Ensure every employee understands the nitty-gritty of your company’s pay policy, from its rationale to how it's implemented. ↪ Employees should know their position in the pay structure, along with an understanding of the growth and progression paths available to them. ↪ share what everyone else is earning.  Now this can be tricky. While some companies may not be comfortable with this level of transparency, others may choose to disclose ranges, averages, or bands.   Transparency, especially at the first two levels, can improve employee attraction and retention rates.  It promotes a sense of fairness, demotivates unhealthy competition, and encourages employees to focus their energy on their work, knowing their compensation is fair and competitive.  Can we channel this mindset and make open discussions about salaries a regular part of our workplace culture? Share your thoughts below. #SalaryTransparency #PayEquity #WorkplaceCulture #OpenCommunication