Transcript
Top HR Myths Debunked
We will be sending out slides and accreditation information following the presentation.
Mykkah Herner, MA, CCPDirector of Professional Services
Aubrey BachSr. Manager Consumer Marketing
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15,000 Positions 3,500 Customers 11 Countries
250 Compensable Factors54 Million Salary Profiles
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Agenda
Mykkah to fill in
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Party Schools CAN Pay Off
Alumni Salaries for Princeton Review’s Top 10 Party Schools
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Employees who perceive a transparent pay practice have lower intent to leave and higher satisfaction
PERCENT OF RESPONSES
LOW AVERAGE HIGH
50% 31% 19%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
1 2 3 4&5
% Responses with Intent to Leave % Responses with High Satsifaction
satisfaction
intent to leave
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Instituting a Pay-for-Performance System Isn’t “Fair”
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Pay for Performance Raises Will Cost Us More Money
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Culture that rewards high performers
Higher pay increases for high performers
Performance-based incentive plan
Performance-based rewards & recognition
You’reSaving
Money by Underpaying
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Aubrey
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You’re Most Likely
Underpaid
of people say they understand how their employer determines pay.
of people who are paid at market THINK they are underpaid
64%
20%
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There is a Skills Gap
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Immediate Strategies
• Train your people to talk pay
• Get your house in order
• Calculate your true costs of turnover
• Reward your high performers
• Get to know your employee population
PayScale Delivers Where Other Compensation Providers Fall ShortPayScale leads the world in compensation knowledge with the freshest and most detailed data from over 54 million salary profiles. More than 3500 organizations use PayScale’s software and intelligence to get the greatest return on their talent. Smart businesses use PayScale Insight to recruit, retain and motivate their people.
Visit our blog: www.payscale.com/compensation-todayJoin our Group on LinkedIn: Compensation Today: HR Best Practices
Mykkah Herner, MA, CCPDirector of Professional ServicesAubrey BachSr. Manager Consumer Marketing
www.payscale.com
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