Get employee pay right, from the get-go.
Written by HRuprise founder, Rebecca Weaver.
Employee compensation is by far the biggest expense for most business owners. And it’s foundational to your operation. So be sure to get it right on the first try.
What do I mean by “getting it right”? Well, I like to break it down into three main categories.
1. PAY MECHANISMS
This includes all the nitty gritty logistics, such as clock in/out procedures, overtime policies and tipping systems when applicable.
These mechanisms need to be smooth, transparent and foolproof. If something ever goes awry, DROP EVERYTHING AND FIX IT. Get it right.
2. PAY EQUITY
This is one of the most insidious issues facing employers today. For all the progress we’ve made as a society, employers still pay people of color and women less than white men for the same job.
It’s a complex issue, and addressing it requires a nuanced, multipronged effort. Simply standardizing pay scales isn’t enough. Our Company Builders course can show you how to interrogate the many factors that go into pay inequity, and build policies to address them.
3. WELLBEING
This is an area of compensation that gives you a huge opportunity to show your employees how much you value them as people.
For example...
Offering a sabbatical gives space for employees to pursue their passions and bond with their loved ones.
Companies offering PTO for menstruation, menopause & pregnancy loss acknowledge the common but invisible challenges faced by their employees.
There are lots of other creative ideas out there. They might seem like extraneous perks – but they’re rapidly becoming status-quo expectations.
Getting pay right shows your employees that you value and respect them as human beings. In the era of the Great Resignation, this is now more crucial than ever.
ABOUT THE AUTHOR: REBECCA WEAVER
Rebecca Weaver is the Founder and CEO of HRuprise, a marketplace that connects people with HR coaches to help them grow, develop, and navigate their toughest workplace challenges. LEARN MORE
