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10/07/2015

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Thanks for posting. I read the original article and it was very insightful. Companies CAN retain their top talent IF they can get comp right. And HCR Software is passionate about helping companies do that with compensationXL.

Gee, Kevin, Compensation Café works very hard at being a non-commercial space. We love to talk about real world stories, though. Thanks again to Jamie for the suggestion.

Good article, and nice treatment by Margaret. Not sure how I feel about the ultra-transparency approach - but it is an intriguing notion.

I'll openly concede to something of a love-hate relationship when it comes to pay-setting. I really loved (okay, liked a whole lot) our approach with my former employer, because it was more pragmatic. It acknowledged (implicitly) that we probably would not be able to hire every single candidate that we wanted to. It also was grounded in a philosophy that the offer we made to a candidate represented an amount that we felt we could afford, and that the candidate should reasonably be willing to accept. It didn't always work, but it did the majority of the time.

Pay-setting with my current employer is squarely in the hate column, and could charitably be characterized as a "hot mess". And sadly, the characteristics that spawn that hatred are all fixable. There's just no transparency or willingness - to drive those changes.

The key descriptor for effective employee compensation practices used to be "systematic." Without science, being systematic made your practices defensible. Being systematic meant you could bear scrutiny.

It was interesting that Leah, who could have just accepted salary volatility as the status quo in a start up found solid business reasons why it would get in the way. Lots of start ups love the drama of the wild and crazy salary mash up.

Sigh, Chris.

This other http://www.wired.com/2015/05/im-terrified-tell-people-much-make/ article on pay transparency also touches on similar pros and cons as seen by non-comp people. Their views are truly helpful for good discussions like this.

My biggest worry about the effects of transparency is how much easier it might make it for outside headhunters to raid your talent. Although it isn't only about bucks, of course.

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