I know as compensation professionals we are always keeping up with industry trends and best practices.
In my role at eeStrategy, my goal is to apply those processes to help compensation professionals implement strategies that successfully achieve their employee engagement, retention and business goals.
I would like to share an article by The Wall Street Journal – Push for $15 Raises Pay – and Tensions. It focuses on the “relative pay” and “pay injustice” tensions caused by the recent push to increase the minimum wage. The focus of this article is mostly on retail, however, relative pay tensions are increasingly being heightened when employees find out that the new hires are coming on board at higher salaries . This can be especially prevalent with critical skill employees and competitive situations make the primary focus current competitive/market driven compensation.
After reading it, I reflected on how our compensation strategy and solution focuses on ensuring that in these changing times employee satisfaction and engagement is not compromised.
I am sure the article will make you reflect upon your own workplace environment and relative pay issues. I would appreciate hearing your thoughts.