Fair Pay: A Definition скачать в хорошем качестве

Fair Pay: A Definition

The word “fair” (adjective) means impartial and just, without favoritism or discrimination. The word “pay” (noun) means the money paid to someone for regular work. So, my definition of “fair pay” is providing money to someone for work done and the money is not influenced by favoritism or discrimination. In practice, I have been involved in many conversations where people argue about what is fair. And their use of that word is as a comparison. They are considering not only their own situation but also the situation of others. And the others they are comparing to may or may not be appropriate from my perspective as a compensation consultant. Examples: · What is a fair CEO-to-median employee pay ratio? · What is a fair pay rate for two employees doing the same job, but they have different education, training, relevant experience, and performance? · What is a fair salary for two employees doing different jobs, but the jobs are comparable in know-how, problem solving, accountability, and working conditions? · What is fair for two employees who do the same job and are performing at the same level but work in two different countries? Fair is a judgment in many situations. But you can influence someone’s perception of fairness by conforming with the established rules of the employer. And HR needs to educate employees on what the appropriate comparisons are and why. Step 1 - Employers: Define the factors you use in your pay decisions and put them in writing. What should those factors be? · They can be things like seniority, merit (performance), quantity or quality of production, the location where the work is performed, relevant experience, education, and training. Step 2 - Use those factors consistently when determining what to pay your employees. Step 3 - Regularly review your pay decisions to ensure they are not influenced by race, ethnicity, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, disability, age (age 40 or older), or genetic information. Step 4 – If you find favoritism or discrimination, train the pay decision makers and update the process to ensure those things are not used going forward. And an alternative to trying to get everyone to agree on what is “fair pay” is to stop using the term. Instead say, “Fair is a place where they judge pigs.” In other words, the world isn’t fair by the individual definitions of fair and comparisons that each of us make. Instead refocus the conversation on competitive and equitable pay. Those terms are more objective, easier to define, and agree upon. Go to ProsperConsultingLLC.com for more information or email us at [email protected]. #compensation #pay #hr #humanresources #fairpay #payequity #competitivepay #paytransparency #compensationconsultant Source: 02032025