webinar-5 steps to a painless increase cycle with payscale crew

5 Steps to a Painless Increase Cycle with PayScale Crew

www.payscale.com

The Annual Pay Change Process

5 Steps to Painless Increases

PayScale Crew Walkthrough

Questions

Agenda

www.payscale.com

How are you managing the annual increase

process?

www.payscale.com

Survey Results

www.payscale.com

How can you make the increase process easier?

www.payscale.com

Timeline

www.payscale.com

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

www.payscale.com

Increase Timeline example

www.payscale.com

Budgeting

www.payscale.com

3% …why?

www.payscale.com

Communication

www.payscale.com

Communication

“Tell them what you are going to tell them, tell them, then tell them what you told them”

Aristotle

www.payscale.com

WIIFM?

• When is it happening

• How is it happening

• Why is it happening

• Who is responsible

• How does it affect me

www.payscale.com

75% of pay conversations

are between managers and employees

Source: CEB

www.payscale.com

19%

of organizations are ‘very confident’ in their managers abilities to have tough

conversations about pay

Source: 2016 PayScale CBPR

www.payscale.com

Train Managers

• What they should know

• How they should frame

• Who they should ask

• When it should happen

• Why it matters

www.payscale.com

Spreadsheets

www.payscale.com

PayScale CrewSame page, not the same spreadsheet

Have confident conversationsKeep it simple Make comp a team sport

www.payscale.com

Live Demo

www.payscale.com

Takeaways

• Timeline

• Budget

• Communication

• Manager Training

• Spreadsheets

Questions?

http://www.payscale.com/hr/product-crew