Pay Matters with David Weaver
Most organizations fail to pay their employees properly — not because they don’t want to, but because they don’t approach compensation with a plan. The compensation landscape is changing rapidly. If you don’t pay your employees what they’re worth, not only will your competitors leave you behind, but you’ll also leave yourself open to legal, social, and political backlash. As an HR professional or manager, how do you navigate the confusing world of compensation? Pay Matters is your go-to podcast for demystifying the art and science of employee compensation. David Weaver and his guests will discuss how to calibrate base salaries, reward programs and enticing incentives so you'll be able to retain your best employees.
Pay Matters with David Weaver
S2/Ep7: Handling Red Circle Employees
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David
The discussion addresses the issue of "red circle" employees, which are employees whose salaries exceed the maximum for their pay grade. David Weaver, author of the article Handling Red Circle Employees points out common reasons why red circles occur, such as employees who have received numerous salary increases over time without promotions or employees hired at the top of their pay range due to salary requirements. Several strategies for managing red circles are presented, including salary freezes, spreading out increases over time, using lump sum bonuses, and fostering employee development to prepare them for a higher pay range. Weaver emphasizes the importance of consistency in any strategy chosen to address red circle employees.