Payscale

"Everybody on my HR team has to understand compensation." Register now to unlock all Compference24 sessions by getting access to all upcoming live sessions plus on-demand recordings you may have missed. Sign up for free through the link below! ?? https://lnkd.in/eJUpHT9F Check out this clip from Tuesday's 'The Future is Now: Unpacking the Urgency of Compensation Practices in Modern HR' keynote.

Is same-day pay the key to employee financial wellness? ? ?? TLNT reported on recent findings from Instant Financial's 2024 Wages & Wellbeing Study that highlighted a concerning trend: Nearly half of working Americans frequently experience financial shortfalls before payday, and over half worry about making their money last until their next paycheck. With wage growth slowing, the demand for earned-wage access is stronger than ever. The study reveals that 86% of U.S. workers would prefer to work at an organization offering same-day pay — a significant increase from 79% in 2022. This preference stems from the belief that immediate access to wages could enhance their ability to save money and manage financial stress. However, the debate continues. Some argue that same-day pay might foster an unhealthy relationship with money. Yet, as Tal Clark, CEO of Instant Financial, points out, "It's demeaning to say we can't trust people with their own money." He emphasizes that earned-wage access is becoming a base benefit, with more employers recognizing its importance. As the conversation around financial wellness continues, innovative solutions like same-day pay could potentially play a crucial role in supporting employees' overall well-being. What have your experiences been with same-day pay? Read the whole article and interview today:

"Value, not retention, is the name of the game with Gen Z." ???? ?? As Sangeetha Gururaj, Senior Vice President of People & Talent at Qualitest, points out, Gen Z employees are redefining what "long-term" means in the workplace. For them, one year can be considered long-term, and the traditional idea of long tenure is becoming a relic of the past. This generation seeks growth, learning, and value in their careers, not just stability. They thrive on continuous feedback, engaging projects, and opportunities for advancement. The focus going forward will need be on creating a culture that values creativity, flexibility, and social responsibility. Organizations must adapt by offering flexible work environments, emphasizing purpose over profit, and investing in employee well-being. Leaders should embrace this shift, stepping into Gen Z's world with empathy and innovation. By doing so, we can drive meaningful progress in our organizations. Read the full article here:

This Thanksgiving, we’re grateful for YOU! ?? Your dedication keeps workplaces thriving, and we’re proud to support you. What are you thankful for this year — personally or professionally?

Caitlin Clark has brought significant attention to the issue of pay disparity. ?? As the first overall pick in the WNBA draft, her salary stands at about $80,000 a year — in stark contrast to the $10 million earned by the NBA's first-round draft pick last year. HR Morning reports that despite increased awareness, the gender pay gap persists, driven by factors like occupational segregation and underrepresentation in leadership roles. Research shows that 38% of men received promotions with pay raises last year, compared to just 32% of women. HR professionals can play a crucial role in addressing these disparities. Conducting regular equal pay audits, setting clear benchmarks for roles, and ensuring equal access to advancement opportunities are essential steps. Additionally, offering women-focused benefits and implementing unconscious bias training can help create a more equitable workplace. Read the full article today:

The aging workforce in the U.S. presents both challenges and opportunities for employers. ?? ?? According to a recent report by Bank of America and the Global Coalition on Aging, tailoring benefit packages to meet the needs of older employees is crucial for sustaining productivity and engagement. Flexible work arrangements, phased retirement options, and support for caregiving and menopause are just a few examples of benefits that can make a significant difference. These strategies not only help employees work longer and prepare for retirement on their own terms but also combat ageism, which cost an estimated $850 billion in 2018. The report emphasizes the importance of fostering age-inclusive work environments. This involves engaging multigenerational teams and promoting knowledge sharing through two-way mentoring. By valuing the experience and expertise of older workers, organizations can enhance job satisfaction and employability. Looking to the future, it will be important to embrace a nuanced approach to benefits, focusing on what truly matters across all ages. Read the article today:

In a recent article, Payscale's own Lulu Seikaly writes that the 2024 election results are set to reshape the landscape of employment-related legislation in the United States. With Donald Trump’s victory and Republican control of both the U.S. Senate and House of Representatives, significant changes are anticipated. The highlights from the article include: - The prospect of a national pay transparency act is unlikely. Although some states have enacted pay transparency laws, pending bills in states like Michigan and Pennsylvania may face challenges due to the political shift. - The definition of an independent contractor is expected to broaden. The Department of Labor under Trump may provide organizations with more flexibility in classifying workers as independent contractors. - DEI initiatives could be curtailed. Trump has indicated a desire to ban DEI training in federal and private sectors, a move that could gain traction with Republican support. As the political landscape shifts, private companies may encounter less regulatory scrutiny. At the same time, many states and organizations remain committed to advancing pay equity and transparency. Staying competitive in talent acquisition and retention will require continued focus on these initiatives. For a deeper dive into these potential changes, read the full article today: https://lnkd.in/gTuG8bTx

Every survey season, compensation professionals face the formidable task of managing and applying countless survey data results. ?? This period demands quick, accurate updates to support year-end merit cycles — which are essential for strategic compensation decisions. At Payscale, we understand the intricate challenges organizations of all sizes face during this busy time. For many, survey data management can be time-consuming and overwhelming. However, with advanced solutions like Payfactors, we provide critical support to make these processes more efficient. Our technology transforms manual workflows into streamlined operations, ensuring that compensation teams can focus on what truly matters: making informed, strategic decisions. Spring brings with it participation season — another significant time for compensation teams. Leveraging technology during both survey and participation seasons is crucial to gaining valuable insights. Payscale’s innovations are designed to equip compensation professionals with the right tools, enabling them to harness their data effectively throughout the year. Is your organization prepared for this season's survey challenges? Listen to the latest episode of Comp & Coffee where we discuss this and more: https://lnkd.in/gUk38ifN

Navigating political conversations at work can be challenging, especially in the wake of the 2024 U.S. election. ?? With 27% of managers reporting election-related conflicts and 75% of workers saying they've considered quitting due to political discussions, it's clear that these conversations impact workplace morale and productivity. HR Brew reports that one effective strategy is hiring an "ombud" to serve as a confidential, neutral resource for employees. As Ellen Waldman from the International Institute for Conflict Prevention and Resolution explains, outside experts can act as honest brokers, helping de-escalate tensions and foster trust. Cynthia McEwen, VP of People and Head of DE&I at Progyny, emphasizes the value of having multiple ombuds available. This approach not only supports employees but also reinforces a positive work environment. McEwen advises against discouraging political conversations outright, suggesting instead that HR should focus on promoting respectful communication and civil discourse. By embedding conflict resolution resources and setting clear expectations for respectful interactions, organizations can maintain a collaborative and productive workplace even amidst challenging discussions. Read the whole article:

The "Great Detachment" describes the growing dynamic of employees being disengaged from their work and actively seeking new opportunities. ?? ?? HR Brew reports that, according to recent Gallup findings, this describes 51% of the American workforce. This trend, described by experts, highlights a growing disconnect between employees and their roles. As Joe Mull, author of Employalty, notes, this isn't just a passing phase. Employees are searching for roles that align with their desired quality of life. The labor market is at a critical juncture, with power largely in the hands of employers, leading to potential disengagement. Rachel Sederberg from Lightcast emphasizes the importance of keeping employees satisfied to maintain productivity and retention, especially when the labor market dynamics shift. John Scott from MasterClass at Work points out that fostering genuine connections at work is crucial to combating feelings of isolation and disconnection. He advises against micromanagement, advocating instead for empowering employees with autonomy and clear expectations. HR can play a pivotal role by creating environments that promote connection and growth. Whether through employee resource groups or career development opportunities, investing in employees' growth may help counteract detachment and demonstrate a commitment to their development. As Sederberg suggests, recognizing diverse needs and offering tailored benefits and career paths can help retain talent and keep them engaged. Read more here: