Sessions
Concurrent Session
When Pay Strategies Fail - Why HR Needs to Act Now
265-268
In-Person
Tuesday 06/14/2022 03:30 PM - 04:30 PM
Competencies: Business (Behavioral)
Workplace Application:
This session will highlight mechanisms in evaluating and maintaining effective pay strategy policies in an evolving and competitive business environment.
Organizations are facing critical challenges in attracting and retaining talent. Our approach to compensation methodology is a significant contributor in both the ability to hire and why employees leave. HR’s failure to maintain and address deficiencies in our pay infrastructure has created a perfect storm with long lasting impacts. Pay inflation is not sustainable and we can no longer ignore pay compression as an isolated problem.
Learning Objectives:
- Identify the four key drivers of compensation and pay strategies.
- Identify how pay strategy influences talent retention.
- Learn methods to balance internal and external pay equity and market competitiveness.
- Conducting a Pay Strategy Stress Test – HR’s best tool in competing in today’s competitive talent market.
In-person session offerings are on a first-come, first-served basis.
