Dec 24 2024 77 mins
In today's episode, we give listeners a look behind the curtain on how HR professionals really feel about compensation. Spoiler alert: Not positively.
HR veteran Sonja Smith joins us for an unfiltered conversation about one of the most complex and often frustrating aspects of work. With over 20 years of experience in HR and talent acquisition, Sonja breaks down why companies struggle with fair pay, the truth about salary ranges, and why being loyal to your employer might actually be costing you money.
We dive deep into how compensation really works behind the scenes, from the challenges of pay transparency laws to the uncomfortable reality of salary negotiations. Sonja shares invaluable insights about when (and if) you should ask for a raise, why companies often fail to adjust internal salaries to match market rates, and how both employees and employers can better navigate compensation conversations.
This episode offers practical takeaways for anyone looking to understand their worth in the workplace, advocate for themselves effectively, or better understand how compensation decisions are really made. Whether you're an employee wondering about your next salary negotiation or a manager trying to have better compensation conversations with your team, this discussion provides honest, actionable insights from someone who's seen it all.
Key topics include:
- Why compensation philosophies matter
- The impact of pay transparency laws
- How companies determine salary ranges
- The "loyalty penalty" and its effects
- Tips for discussing compensation with your manager
- Common compensation myths and misconceptions
Connect With Our Guest
Resources:
Pay Transparency Laws: A State by State Guide
We are an independently run podcast. We're excited to take this journey with you, thank you for listening.
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Our theme music and sound was produced by Equalibrum:
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Our logo and artwork was designed by Jillian Blanco:
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Outside of this podcast, Megan does start-up and small business consultation, speaking engagements, interview coaching, and more. You can learn more on her website - www.benandanticonsulting.com