NYCA Spring Panel - Tackling the New Complexities of Compensation Planning

Summary:

This episode is a recording of panel discussion that took place during the recent NYCA event in which Sean Luitjens, General Manager of total rewards analytics at Visier, Jackie Rubin, Associate Director of talent and rewards at Willis Towers Watson, and K.C. Weinraub, VP of total rewards at eHealth, answer questions posed by our very own David Turetsky. 

In this episode, Sean, Jackie, and KC talk about the past, present, and future world of pay and tackling the new complexities of compensation planning.

Chapters:

[0:00 - 9:46] Introduction

Welcome, Sean, Jackie, and KC!Today’s Topic: Tackling the New Complexities of Compensation Planning

[9:47 - 17:30] In what surprising ways does pay affect compensation planning?

Communication of compensation plans is increasingly becoming HR’s scopeDeveloping a data strategy before rolling out an AI strategy

[17:31 - 36:01] What pay decision issues are we anticipating for the rest of 2024?

Developing managers as opposed to “knighting” managersHow employees weigh compensation vs. benefits when looking for a jobs

[36:02 - 49:39] Predicting for changes in compensation planning in 2025

Why it might make sense to revise compensation plans more frequentlyHow pay increases might change in the future

[49:40 - 62:36] BONUS: What scares you about the future of pay?

Legislation regarding exempt vs. non-exempt employees

[62:37 - 63:28] Closing

Thanks for listening!

Quotes

“We have to train our managers and our leaders on how to talk about [compensation plans] to the populations within our organizations.”

“I think compensation planning will become more cyclical—three or four times a year. . . . I think that will help with the employee experience and with the manager experience.”

Contact:
Sean's LinkedIn
Jackie's LinkedIn
KC's LinkedIn
David's LinkedIn
Podcast Manger: Karissa Harris
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Production by Affogato Media