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HR:30 What is Pay Compression?
April 9, 2021 @ 1:00 pm - 1:30 pm EDTComplimentary
It happens in workforces of all sizes and industry. When you hire a new employee into a long-term workforce, you’re faced with thoughts such as:
1. What should I pay them?
2. They’re asking for more than my experienced employee
3. Should I increase the pay of my current employees?
Join Megan Richardson, DCSI’s Vice President of Consulting, as she explores the concept of Pay Compression between experienced and new employees and shares best practices for addressing this important retention issue.
- Define Pay Compression and explore its root causes
- Explore options for auditing and addressing compression issues
- Learn tips for communicating compensation strategy with leaders and employees