Feb 02 2024 35 mins
In this episode, Tim Cynova and Katrina Donald delve into the complex world of wage transparency and equitable compensation, and explore how organizations can navigate these challenges to create fair and inclusive workplaces.
They explore the need for organizations to list salaries for roles, both internally and externally, as well as the implications wage transparency laws are having across the U.S. The conversation delves into the challenges faced by organizations in creating consistency and fairness in their compensation approaches, particularly when considering factors like internal versus external experience and equity. Tim and Katrina also emphasize the significance of engaging in open and honest conversations about compensation within organizations and the benefits of adopting a holistic approach to compensation.
Episode Highlights:
- The growing urgency for organizations to have transparent salary information
- The impact of new and expanding wage transparency laws
- The challenges organizations face in creating consistency and equity in compensation
- The importance of having open and honest conversations about compensation
- How to consider compensation in a more holistic way, beyond just base compensation
- The benefits of adopting a strict, fixed tier compensation model
Stay tuned for upcoming episodes on executive coaches who center equity and inclusion in their practice, the authors of "The In-Between: A Companion Book For Uncertain Times," and Gen Z in the workplace. Plus, catch season two of "White Men and the Journey Towards Anti-Racism" as well as an episode on values-based collective bargaining processes.