107: Coaching Managers for Better Compensation Dialogues

In this episode of "Comp and Coffee," host Ruth Thomas is joined by Payscale's compensation experts Kim Taylor and Roberto Molina to discuss strategies for empowering managers in compensation dialogues. The trio dives into the importance of coaching managers to lead effective pay conversations, especially amid increasing demand for transparency and legislative changes. Tune in to discover actionable insights for conducting smoother pay conversations that boost engagement and trust within organizations. Key Highlights Importance of manager preparedness in pay conversations and how robust information can aid these discussions. The rise of pay transparency laws driving the need for effective communication strategies. The challenges and pitfalls of pay conversations, including avoiding them or lacking preparation. Techniques for aligning performance reviews with compensation discussions to increase clarity and trust. Innovative training methods being adopted by organizations to enhance compensation dialogues at all levels. Quotes "So much of an employee's self-worth is tied up in their salary—it's uncomfortable to bring what might be perceived as not the most ideal news." – Kim Taylor "When managers are not aware of the why behind these ranges, they often cede their authority on pay decisions back to HR." – Roberto Molina "Pay is very personal; it drives your lifestyle, and these conversations can often be awkward and necessary." – Ruth Thomas References How to Train Managers to Have Successful Pay Webinar: https://www.payscale.com/events/how-to-train-managers-to-have-successful-pay-conversations/  Mastering Effective Pay Communications: Best Practices for Success Webinar: https://www.payscale.com/research-and-insights/mastering-effective-pay-communications-best-practices-for-success-webinar-on-demand/