NYCA 10/29: How Firms Manage Career Architecture, Performance Management & Rewards with an (Almost) Exclusively Remote Workforce - Shared screen with speaker view
Has been an ongoing challenge to tie pay to performance
How do you motivate performance if you don't reward people?
In the public sector, we use titles, recognition, training, and opportunities (mobility)…
Challenge has been defining and measuring performance objectively and fairly
People have worked harder than ever this year but there's no money for bonuses...
People need to understand business performance regardless of how hard they have worked. And hopefully there are other ways of recognizing performance versus money
In terms of career progression....not all positions or types of roles have the potential for progression - either because of flattening of organizations or because there just aren't more senior level roles for that function.
How do you address legacy issues for executives that were overpaid in the past? It would be hard to reduce their pay.
Need to have tough but necessary conversations with them. Maybe it is just freezing their salaries and looking at their total comp relative to contribution and mkt value of their role.
Companies in general are belt tightening. Therefore, more focus on salary expense has become more prominent. I foresee little to no Merit increases and bonuses may be limited to "spot type" approach.
Location strategy resulting from the ability now to work from home, i.e. working in the office in Silicon Valley and deciding to move to Idaho as she/he can work from home 100% of the time.
Depending on where you hire the talents from.
I think the whole notion of market data by location has to change with this shift to working from home and/or remotely.
We are trying to use location flexibility to our advantage in finding talent...
Agree with Matt as well as others who are saying that the market data needs to change. Initially many of the larger tech companies are saying that they need to make sure pay is equitable in the remote areas.
In my experience, rate of pay has never been solely based on location. The value of the position internally as well as the expertise the person brings to the table matters too.
Perhaps national averages will become more important
I agree that it will start to normalize as well. I’m talking with a global tech company that is combining countries and has 3 geo diffs globally. they are mostly engineers in 60 countries and just cannot manage the detailed work of differentiation, especially with the amount that people tend to move around
Title structure or hierarchy may not be equivalent to career paths. It may be that in order to progress in one's career an employee has to move to lateral level positions
We work within a broadband structure where people can move among functions within the band
Job architecture and clearly defined titles/roles are absolutely necessary from a pay equity & DEI perspective
Corporate titling tends to be driven by legacy and cultural design in organizations. Difficulty to remove a corporate title once applied even if no longer applicable.
Much more review
It's difficult to recognize individuals appropriately and meaningfully apart from performance information and understanding level of role
We are in the process of rolling out a new career framework so there will be much more structure around promotion evaluations than in the past
while merit and bonus pools were frozen we did a separate talent assessment process to identify and provide off-cycle adjustments and bonuses to high performers
and critical talent
Slowing the process down on promotions, due to inability of clear identification of achievements.
UK gender pay gap is really more about representation, not pay equity
Agree! Better distinction about pay equity vs. pay gap needs to be clearer.
But pay equity here in the States is a real issue that needs to be addressed by many firms
Legal advice is needed for pay equity review
Legal involvement is indeed critical in this process
But Comp/Reward need to be able to understand and determine if there are any pay equity issues/exposures
Need to measure results and not time spent
Comp cannot determine the pay equity issue alone without HRBPs' input who know the employees, qualification, performance, scope of responsibilities for the same grade and same job family.
Pay equity definitely is an ongoing challenge. Since each candidate bring a unique set of experiences and skills, it's incumbent upon organizations to tie pay closer to market and be aware that internal equity may not be as good a metric as they would think. Internal equity tends to be tied to prior salary decisions that may have been influenced by past hiring practices.
Remote work and covid poses new challenges espec as families struggle to juggle their work responsibilities with their children's education and thus why it is important to measure results deliverd versus time spent
No not getting rid of performance ratings … efforts underway to improve the process to increase communication and feedback.
Thank you! Very good discussion!
Thank you - great discussion
After the initial kickoff of performance management training for managers, does it differ among different i industries about how often that training is offered for a refresher?
Thank you - excellent presentation!
Thank you - great discussion!
Nice seeing you Warren!
Thanks for your time! Sorry about joining late. Looking forward to reviewing the recording.
Great insights and value!
Warren, As many have said, thank you for an excellent session. Bill
Hi everyone - keep an eye out for a survey coming in the next few days. We want questions for our panelists on November 12th! Should be another good discussion. :-)
Much success Warren!