webinar-comp foundations-be an analytics hero

Comp Foundations:How to be an Analytics Hero

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IntroductionAngela Ulman, CCPCompensation Professional

Jenny LindensteinManager, Customer Success

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54 Million Salary Profiles10 Org types 350 Industries 15,000 Job Titles

2,300 skills, 4,200 certifications

The World’s Largest Salary Database

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So many reports!

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The Basics

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Exploring theAnalytics Launchpad

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Getting there

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The Big 3

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Market Gap

• Compares

• Answers: are we still competitive to today’s market?

value of the market percentile of your

pay when the reports were last run

value of the same percentile in

today’s market

the gap is the difference

between them

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Market Gap

• Answers: What jobs are moving quickest and the most?• Sorted by the total $ difference• Shows whether jobs are moving with low, medium, or

high velocity

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Range Outliers

• Shows number of employees above and below pay ranges

• Answers: who may be paid high or low?

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Range Outliers

• Group by Red or Green to get just a list of high or low

• Breaks information down to the employee level

• Shows where their pay falls relative to the pay range

maxmidmin

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• Answers: which top performers might leave to make more money elsewhere?

• Shows all employees with pay below the 50th percentile of the market

Flight Risk

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Flight Risk Results

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Middle of the page

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Employee Pay to MarketCompares your internal pay (green) with market (purple)

Looks at both base and total cash compensation (TCC)

Answers: are we competitive to the market?

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EE Pay to Market ResultsMarket Ratio

• 1 means paying at market• “Good” depends on the size of the group• Guideline is 0.8-1.2

Employee PayMarket at Target

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Employee Pay to Ranges

Compares your internal pay (green) with your ranges (blue)

Answers: are we paying according to plan?

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EE Pay to Ranges ResultsCompa Ratio =

• 1 means you’re paying at the midpoint• Guidelines same as for market ratio

Range penetration • 50% is the midpoint• May be easier to explain to managers & employees

Employee PayRange Midpoint

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Disparate Pay

• Shows middle, lowest, and highest pay for each job

• Answers: should I level my jobs? Do I have compression? Do I have discrimination concerns?

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Disparate Results

• “too wide” depends on level; pay attention to > 50%

• “too narrow” means you’re not differentiating pay enough by performance, experience, etc

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Gender Earnings Comparison

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Gender Earnings Comparison

Comp Foundations: Gender Pay Equity

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The Science

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Digging deeper•Employee to Market•Employee to Ranges•Ranges to Market

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Group By

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Multiple groupings…

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…adds columns

Sort bycolumn.

Just click.

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Multiple sort

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The Art

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What to look for

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Pay for Performance• Are you appropriately compensating top performers?

• EE to Ranges, grouped by performance

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Pay for PerformanceIf you don’t use ranges, look at your performers to the market

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Pay Across Locations

• Are you paying fairly across locations?

• Do you want to be? Is the cost of labor reflected appropriately?

• EE to Ranges, group by Labor Market

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Pay Across Generations• How does pay break out by generation?

• Load generation into a custom group View EE to Ranges, group by EE custom group

• Consider cross-referencing with other variables like performance or tenure

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The Execution

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Annually Quarterly OngoingMonthly• Gender

Earnings Comparison

• EE to Ranges to review fair pay

• Ranges to Market

• Range Outliers

• EE to Ranges

• Disparate Pay

• Market Gap

• Flight Risk

• Employees to Market

• EE Questions

• Hiring

• Promotions

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Q & A(we’ll email this out)

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Women in Leadership• Do you have a good representation of women in

leadership roles?

• Are you paying fairly by gender?

• EE to ranges, grouped by grade then gender

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Hot and Cold Jobs

• Identifies how jobs are trending in the market

• Answers: which jobs should I be keeping my eye on, especially if people in those jobs are grumbling?

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Hot and Cold Jobs Results

• Remember – just because the job is moving doesn’t mean you have to give someone a raise

• Look at cold jobs too