There are a lot of things that employers don’t do or do that cause problems.
Dumb is not benchmarking jobs to competitive market data. You’re going to over and underpay your employees. It is going to hurt (be expensive) when the good employees leave.
Dumb is not allocating enough budget for merit increases, promotions, equity adjustments, and market adjustments each year. The good employees have choices and the war for talent is ongoing. People help you achieve business goals. Pay them competitively, equitably, and fairly.
Dumb is not doing a pay equity audit so you know where you have pay inequities. Dumb is not fixing these inequities. The snakes under the rock bite. Spend the money now or spend more money later to fix a bigger problem that is in the news. Legal fees add up quickly.
Dumb is not documenting your compensation processes and guidelines. Dumb is not following your documented compensation processes and guidelines. Doing proactive work may be difficult, but it’s more difficult to explain the inconsistencies. Trust is essential to building high performing teams.
Dumb is not listening to employee questions about pay and answering with honesty and empathy. Employees depend on their paychecks, and leaders demonstrate their leadership capabilities by having difficult conversations. Delaying difficult conversations does not make them easier. Suck it up buttercup.
Dumb is not having a pay transparency strategy and roadmap. Choosing not to comply with pay transparency/equity laws is not going to help you reach your business goals. Employees see your noncompliance. So do candidates and your competition for talent.
Dumb is not prioritizing the needs of your employees, the needs of your customers, and your business goals with the same level of importance. We are all trying to move from surviving to thriving. Being selfish is a short-term approach and long-term rewards are given to those who create value for everyone around them.
Dumb is assuming more pay will fix poor managers, leaders no one wants to follow, and a business strategy that isn’t aligned to marketplace realities. A healthy workplace culture is built in moments. Those one-on-one interactions and group meetings demonstrate who you are as well as what you tolerate and reward.
Are you dumb and tough?
Or are you intentional, smart, and wise?
#pay #compensation #paytransparency #payequity #hr #humanresources #rewards #marketpricing #paygrades #leadership #difficultconversations