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/Ep11: How to Pay Competitively Across Geographic Markets
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David
Based on David Weaver’s article on geographic pay, the discussion provides guidance on how to determine and implement geographic pay differentials. It emphasizes the importance of using reliable local compensation data to ensure competitive salaries across different geographic markets. The author recommends considering the cost of labor, rather than the cost of living, when making pay adjustments. Two methods for applying geographic pay differentials are discussed: applying the differential only to specific jobs or applying it to all jobs. Finally, the article stresses the importance of reviewing geographic salary structures regularly, particularly when employees transfer between locations with different pay structures.