your managers are on the frontlines of employee retention—and compensation plays a lot into that. compensation can be your strategic advantage to attract and retain employees, but you first need to educate and empower your managers to have informed conversations with their teams. if your goal is to become more transparent, make a plan and communicate it with your managers so they understand the changes, and the reasoning behind them. help your managers understand the responsibility level and expectations of employees in each job grade, and how you define the target pay for employees within those job grades. seventy six percent of companies adjust their compensation strategy for retention, 68 percent adjust it for recruiting, and 56 percent adjust it to pay for hot skills.
compensation is a strong indication of how you value your employees, and many organizations plan to use it as a strategic tool to retain talent. your managers need to understand how this all comes together, to ensure fair pay, and to explain total rewards to their teams. for instance, your company may lag the market in terms of salary, but provide benefits and perks to make up for it. these things all set up positive conversations for managers to have with their employees. your managers are likely already having conversations around compensation with employees, but don’t necessarily have the information, data, or empowerment to make those conversations meaningful.
a solid compensation strategy should have defined job grades and salary bands, which you can clearly communicate with your managers. help your managers understand the responsibility level and expectations of employees in each job grade, and how you define the target pay for employees within those job grades. compensation training for managers. session length: 4 hours | target: all supervisors and managers | prerequisites: talking about money can be uncomfortable (we know, you’re shocked), but failure by managers to effectively talk about, .
manager training could change that. of managers are already communicating compensation to new program design. – job classification. – compensation. – performance management. • timeline for rollout of new need compensation management training & resources? then look no further. hr training center provides several,
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