Are you ready to tackle difficult conversations around compensation as a senior leader? In this episode, I address the common scenario of an associate approaching you to discuss their pay package. I’ll guide you through navigating the discomfort and frustration that often accompany such discussions, helping you feel confident and prepared for what lies ahead.
You will learn about the significance of pay transparency these days, the importance of understanding your company’s compensation philosophy, and how to effectively prepare for these conversations while maintaining trust and engagement among your team. Discover why it’s crucial to acknowledge the courage it takes for employees to initiate these conversations and the negative impact of making promises that cannot be kept.
What You’ll Learn In Today’s Episode:
- When you may expect to have compensation conversations.
- How associates’ life changes may impact their thoughts around compensation.
- The benefit of asking for a heads up about compensation conversations.
- How to prepare for a conversation about compensation.
- The importance of acknowledging the courage it takes to ask for a compensation adjustment.
- Why you should never make a promise you can’t keep to an employee.
Ideas Worth Sharing:
“Pay transparency is talked about more and more, so being approached to have a conversation about an associate's compensation should be expected.” – Elisia Keown Share on X “It’s really important as a senior leader that you understand your company's compensation philosophy.” – Elisia Keown Share on X “Never make a promise to an employee that you can’t keep. It can ruin employee engagement and cause a lot of distrust.” – Elisia Keown Share on XResources In Today’s Episode:
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