Comp + Coffee

Payfactors

A podcast from Payfactors that talks through the art and science of compensation management.

  • 22 minutes 37 seconds
    94 We'll be at WorldAtWork!

    In this episode of Comp & Coffee, Ruth Thomas discusses the upcoming WorldatWork Total Reward 2024 Conference. She is joined by Lexi Clarke, Chief People Officer at Payscale, and James Atkinson, VP of Data Products. They talk about the sessions they will be leading at the conference, including topics such as equipping people managers for effective pay conversations and the impact of AI on compensation. They also discuss the importance of continuous learning and networking at events like WorldatWork.

     

    14 May 2024, 5:06 pm
  • 40 minutes 49 seconds
    93 CBPR Highlights

    In this episode of Comp & Coffee, hosted by Ruth Thomas, Chief Evangelist at Payscale, the podcast dives into the findings of Payscale’s 2024 Compensation Best Practice Report (CBPR). Guests Amy Stewart, Associate Director of Content Marketing and author of the CBPR, alongside Lulu Seikaly, Payscale’s Senior Corporate Attorney, share their insights on the evolving landscape of compensation management. Key topics discussed include the significant increase in organizations practicing pay transparency, the impact of artificial intelligence on compensation decisions, and the implications of minimum wage changes on compensation strategy. The episode also touches on the importance of pay communications, trends in pay equity, and the role of AI in reducing unfulfilling work. The discussions emphasize the importance of strategic compensation management to attract and retain talents, navigate legal landscapes, and foster employee trust and engagement.

    7 May 2024, 9:20 pm
  • 35 minutes 20 seconds
    92 AI Innovations at Payscale

    In this episode of Comp and Coffee, Ruth Thomas and her Payscale colleagues, Brooke Grimes, James Atkinson, and Brittany Innes, discuss the latest innovations at Payscale in response to market demands and key compensation trends. They cover how Payscale is leveraging AI to enhance product and data offerings, particularly in job description management, and the role of AI in improving efficiency and fairness in HR practices based on insights from the Compensation Best Practice Report 2024. The team also delves into Payscale's efforts to simplify workflows for both managers and administrators in compensation planning, along with the introduction of new features like Explore Payscale Tiles and Single Sign-On for Payscale Connect. Additionally, they highlight the importance of robust data sources for accurate benchmarking, and the development of new datasets to meet customer demands. The podcast also mentions resources like the Payscale certifications program, partnerships for enhanced data offerings, and upcoming events where listeners can engage with Payscale directly.

    3 May 2024, 1:46 pm
  • 35 minutes 53 seconds
    Episode 91 - Progress on Gender Pay Gaps - Part 2

    We are again discussing Gender Pay Gaps and the findings from our recently released GPGR. In our last episode, we introduced you to this year’s report and the overall outcomes. Today we are going to build on that and delve into more of the reports insights and discuss some of the potential drivers of pay gaps.

    Picking up from our last episode, we'll take a deeper dive into the Payscale Gender Pay Gap Report. 

    We'll start with a quick summary of report findings, then explore how age affects the pay gap. Additionally host Ruth Thomas together with guests Amy Stewart and Kelly Campana will also discuss how changing views of women's work can influence how we measure the gap itself. 

    Most importantly, we'll focus on practical tips for closing the gap by highlighting what employees bring to the company. Listen and explore actionable ways to create a more equitable workplace!

    Key Takeaways:

    • Quick summary of Payscale’s gender pay gap report
    • Why does age affect the gender pay gap?
    • The idea behind how to measure the pay gap and how historical ideas around women’s contribution to the world are changing
    • It is important to remind employees about where is their best contribution lies and happen
    • Women who work from home have a wider pay gap than those who work in offices

     

    Resources:

    29 March 2024, 2:00 pm
  • 36 minutes 17 seconds
    Episode 90 - Progress on Gender Pay Gaps - Part 1

    Our discussions this month are all aimed at raising awareness and encouraging action to eliminate bias and discrimination entirely from our workplaces and society at large. This year’s Women’s History Month theme “Women Who Advocate for Equity, Diversity and Inclusion" which is very appropriate for this conversation.

    Today, host Ruth Thomas welcomes guests Michelle Gyima and Amy Stewart to analyze data from the recently published Gender Pay Gap Report 2024. This report, now in its tenth year, offers a much deeper understanding of the factors driving pay gaps. Together, they'll delve into the report's insights and share their perspectives on the analyzed data.

    Key Takeaways:

     

    • How much women are paid compared to men?

    • The uncontrolled pay gap

    • Gender stereotypes in the workspace and how they affect overall pay

    • Bias in pay history

    • Why pay gaps don’t close just because of pay transparency legislation 

    • How organizations can address the Gender Pay Gap?

     

    Resources:

     

    •2024 Gender Pay Gap Report: www.payscale.com/research-and-insights/gender-pay-gap

    Payscale Website: www.payscale.com 

    •Email: [email protected] 

     

    18 March 2024, 12:06 am
  • 32 minutes 41 seconds
    Episode 89 - Minimum Wage Developments

    In January, we saw 22 U.S. states boosting their minimum wage rates with effect from the 1st of the month and three more planned later this year. So now there will soon be 30 states with minimum wages higher than the federal standard, which is $7.25 per hour for non-exempt workers. In this episode, we're talking about the impact this is having and will have.

    Have you ever wondered how minimum wage could impact your pay? Tune in, and let's find out! Join Ruth and her guests, Vicky, Lulu, and Kim, as they delve into the specifics of minimum wages. 

    Gain practical tips on attracting and retaining top talent, understand the effects of minimum wages on pay dates, and discover how increasing the minimum wage may align with environmental, social, and governance policies. Join us in this discussion as we explore the rewards and complexities of the expanding job market.

     

    Key Takeaways:

    • Minimum wage in U.S. history

    • The Wage Act bill proposal

    • How to attract and retain your best workers

    •  The impact of minimum wages on pay dates

    • How increasing the minimum wage will contribute to environmental, social, and governance policies

    • How to solve pay compression

     

    Resources:

    2 February 2024, 7:34 am
  • 29 minutes
    Episode 88 - Top Predictions for HR and Compensation Management in 2024

    Curious about job market trends in 2024? Join us in this episode as we delve into market predictions and the evolving compensation landscape for this calendar year. 

    Our thought leaders at Payscale will discuss the fate of talent acquisition and share insights to help you navigate the changing world of work. Tune in with our guests, James and Lulu, as they break down key aspects of the job industry this 2024. 

     

    Key Takeaways:

    • Legislation and advancements in technology

    • What is ahead in the legislative landscape in 2024 and for those managing compensation?

    • Does the 2024 presidential election impact the legislation?

    • Pay transparency and its impact on compensation data

    • Using job posting data as an additional source for compensation professionals

    • How does Payscale use AI for this calendar year?

    • What is the one thing that surprised them in 2023?

    Resources: 

    10 January 2024, 2:00 pm
  • 32 minutes 49 seconds
    Episode 87 - PayScale's 2023 End of Year Report Hot Jobs Report

    As we close out the year, this discussion centers the state of the labor market as we pivot into 2024 as well as hot jobs and this year. What are the predictions from our thought leaders here at Payscale? Listen to find out!

    Let's dive into Payscale’s 2023 End-of-Year Report! In this episode, guests Amy Stewart and Lexi Clarke provide insights into the state of the job market as we approach 2024. They highlight the top 10 in-demand jobs of 2023 with significant wage growth and reveal the jobs people are most inclined to quit, drawing from Payscale’s employee-reported survey data.

    Key Takeaways:

    • How do you come up with the end-of-year report?
    • What is the condition of the labor market in the upcoming years?
    • Labor force specifications are at historic lows.
    • Employer and employee friction is not going away.
    • Is pay going to be as high in 2024?
    • Transparency is huge.
    • The "hot jobs" list highlights 
    • Sneak Peak: Top predictions for 2024

     

    Resources:

    27 December 2023, 2:00 pm
  • 30 minutes 7 seconds
    Ep 86 - Spotlight on gender pay gaps

    Vicki, Liz, and Ruth discuss the gender pay gap -- what it is and how it's looking for next year. Is your organization taking necessary action to close the gap?

     

    In this episode, we're peering into the future—2024, to be exact—to predict what changes lie ahead for the gender pay gap. Our guests, Vicky Peakman and Liz Sheffield, will be breaking down the factors that could impact who earns what, exploring everything from how workplaces are evolving to new policies on the horizon.

    Join us for this chat as we talk about the possibilities, making sense of what the working world might look like in just a few years and how we can bridge the gap together!

    Key Takeaways:

    • Looking at potential predictions in the year 2024 on gender pay gaps.
    • Setting your intentions straight
    • The mean pay gap for full-time workers.
    • Examining the uncontrolled pay gap versus the controlled pay gap.
    • How will the gender pay gap evolve throughout the next year?
    • Exploring how the pay gap reached its lowest amount during the pandemic.
    • Do women of different races experience varying impacts from the gender pay gap?
    • Measure your pay gaps at all times.

    Resources:

    13 December 2023, 2:00 pm
  • 31 minutes 44 seconds
    Ep 85 - Remote Work Is Here to Stay

    Amy, Ruth, and Russ discuss remote work, RTO mandates, and the impact this is having on the workplace. How will new policies and expectations impact your workforce?

    In this episode, we delve into the dynamic landscape of remote work and the evolving scenarios surrounding return-to-office mandates. Explore the latest trends, challenges, and opportunities shaping the future of work as we navigate the intersection of technology, workplace culture, and the ongoing impact of global events. 

    From the thrill of flexible schedules to the challenges of Zoom fatigue, we're dissecting it all!

     

    Key Takeaways:

    • Remote work policies, expectations, and return-to-office policies
    • Adjusting to the shift in our working environment
    • Increase in hybrid and remote organizations compared to traditional offices
    • Challenges when it comes to return to the office
    • Is productivity really the issue when moving to remote work?
    • Building company culture from a distance
    • Differences in pay with remote and traditional workers

    Resources:

    29 November 2023, 2:00 pm
  • 26 minutes 36 seconds
    Ep 84 - Pay Transparency: Why Employees Care

    Liz, Lulu, Ruth, & Russ discuss Pay Transparency from the employees perspective. Is this your company's opportunity to build a better brand?

     

    Assets:

    Payscale Comp Quick Guide: Understanding Employee Reaction to Pay Transparency

     

    15 September 2023, 5:05 pm
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