Employers who are prioritizing pay equity and transparency need to ensure that their compensation programs are well managed, consistent, and effectively communicated.

How do you determine if you are meeting those criteria?

Are your compensation programs managed well?

· A plan document is written and followed for each compensation program.

· Each compensation program has a purpose and alignment to that purpose is tested regularly.

· Success metrics are defined and used as part of a feedback loop to make continuous improvements to compensation programs.

Are your compensation programs consistent?

· Exceptions are minimized and written business case rationale is required as is review by senior HR/business leaders before the exception is implemented.

· Compensation guidelines and processes are documented and followed.

· Pay-related decisions are made with integrity and based on factors that are not discriminatory or show favoritism.

Are your compensation programs effectively communicated?

· What you share with employees is clear and understood.

· You have a compensation communication plan for each program. It includes the audience, communication delivery method, frequency, owner, and key messages.

· You repeat key messages and their alignment to business goals frequently to your audiences.

Other factors to consider are if your compensation programs are competitive, equitable, fair, and within budget.

What would you add?

#compensation #compensationconsultant #hr #humanresources #rewards #paytransparency #fairpay #payequity #pay