Fair Pay

Fair Pay
Author: David Buckmaster
Publisher: HarperCollins
Total Pages: 333
Release: 2021-06-29
Genre: Business & Economics
ISBN: 0062998293

Longlisted for the 2021 Porchlight Business Book Awards, Management & Workplace Culture An expert takes on the crisis of income inequality, addressing the problems with our current compensation model, demystifying pay practices, and providing practical information employees can use when negotiating their salaries and discussing how we can close the gender and racial pay gap. American workers are suffering economically and fewer are earning a living wage. The situation is only worsening. We do not have a common language to talk about pay, how it works at most companies, or a cohesive set of practical solutions for making pay more fair. Most blame the greed of America’s executive class, the ineptitude of government, or a general lack of personal motivation. But the negative effects of income inequality are a problem that can be solved. We don’t have to choose between effective government policy and the free market, between the working class and the job creators, or between socialism and capitalism, David Buckmaster, the Director of Global Compensation for Nike, argues. We do not have to give up on fixing what people are paid. Ideas like Universal Basic Income will not be enough to avoid the severe cultural disruption coming our way. Buckmaster examines income inequality through the design and distribution of income itself. He explains why businesses are producing no meaningful wage growth, regardless of the unemployment rate and despite sitting on record piles of cash and the lowest tax rates[0] in a generation . He pulls back the curtain on how corporations make decisions about wages and provides practical solutions—as well as the corporate language—workers need to get the best results when talking about money with a boss. The way pay works now will not overcome our most persistent pay challenges, including low and stagnant wages, unequal pay by race and gender, and executive pay levels untethered from the realities of the average worker. The compensation system is working as designed, but that system is broken. Fair Pay opens the corporate black box of pay decisions to show why businesses pay what they pay and how to make them pay more.

Glossary of Compensation Terms

Glossary of Compensation Terms
Author:
Publisher:
Total Pages: 88
Release: 1998
Genre: Wages
ISBN:

Provides brief definitions of terms related to compensation, including titles of and comments on key legislation.

Who Gets What

Who Gets What
Author: Kenneth R. Feinberg
Publisher: PublicAffairs
Total Pages: 242
Release: 2012-06-26
Genre: Social Science
ISBN: 1610390768

Agent Orange, the 9/11 Victim Compensation Fund, the Virginia Tech massacre, the 2008 financial crisis, and the Deep Horizon gulf oil spill: each was a disaster in its own right. What they had in common was their aftermath -- each required compensation for lives lost, bodies maimed, livelihoods wrecked, economies and ecosystems upended. In each instance, an objective third party had to step up and dole out allocated funds: in each instance, Presidents, Attorneys General, and other public officials have asked Kenneth R. Feinberg to get the job done. In Who Gets What?, Feinberg reveals the deep thought that must go into each decision, not to mention the most important question that arises after a tragedy: why compensate at all? The result is a remarkably accessible discussion of the practical and philosophical problems of using money as a way to address wrongs and reflect individual worth.

Compensating Your Employees Fairly

Compensating Your Employees Fairly
Author: Stephanie R. Thomas
Publisher: Apress
Total Pages: 295
Release: 2013-03-19
Genre: Business & Economics
ISBN: 1430250402

Compensation fairness is a universal preoccupation in today’s workplace, from whispers around the water cooler to kabuki in the C-suite. Gender discrimination takes center stage in discussions of internal pay equity, but many other protected characteristics may be invoked as grounds for alleging discrimination: age, race, disability, physical appearance, and more. This broad range of vulnerability to discrimination charges is often neglected in corporate assessments of how well compensation systems comply with the law and satisfy employee norms of fairness. Blind spots in general equity constitute a serious threat to organizational performance and risk management. In Compensating Your Employees Fairly, a respected practitioner and consultant lays out in practical terms everything you need to know to protect your company along the full spectrum of internal pay equity issues, including all the technical methods you need to optimize compliance and minimize risk. Compensating Your Employees Fairly is a timely survey and comprehensive handbook for compensation specialists, HR professionals, EEO compliance officers, and in-house counsel. It provides all the information you need to ensure that compensation systems are equitable, auditable, internally consistent, and externally compliant with equal employment opportunity laws and regulations. The author presents technical information—both legal and statistical—in common-sense terms. Her non-technical breakdown of complex statistical concepts distills just as much as practitioners need to know in order to effectively deploy and interpret the standard applications of statistical analysis to internal pay equity. The focus throughout the book is on real-world application, current examples, and up-to-the-minute information on recent and pending wrinkles in the evolving legal landscape. Readers of Compensating Your Employees Fairly will learn: Why internal equity in compensation matters How to detect intentional and non-intentional discrimination in compensation The basics of statistical inference and multiple regression analysis The essentials of data availability, measurability, and collection The criteria for assessing compensation systems for internal equity How to investigate potential problems and react to formal complaints and actions How to avoid litigation and put in place ongoing measures for proactive self-auditing What you’ll learn Readers of Compensating Your Employees Fairly will learn: Why internal equity in compensation matters How to detect intentional and non-intentional discrimination in compensation How to investigate potential problems and react to formal complaints and actions How to avoid litigation and put in place ongoing measures for proactive self-auditing Who this book is for HR professionals, compensation specialists, EEO compliance officers, in-house counsel, and employment attorneys will find invaluable the expert author’s non-technical treatment of the technical issues that are essential to understanding all facets of internal pay equity. Without a working understanding of how to make their data tell a clear story, these various professionals cannot ensure that their compensation systems are equitable, auditable, and demonstrably compliant with equal employment opportunity laws and regulations. Table of Contents Why Equity in Compensation Matters Types of Discrimination in Compensation Multiple Regression Analysis The Data Regression Models of Equal Pay Other Tests of Equal Pay Analysis Follow-Up The Changing Landscape of Pay Equity Enforcement Causes of the Gender Pay Gap Litigation Avoidance and Proactive Self-Analysis The Basics of Statistical Inference

Fairness of CEO Compensation

Fairness of CEO Compensation
Author: Mehtap Aldogan Eklund
Publisher: Springer Nature
Total Pages: 208
Release: 2019-12-05
Genre: Business & Economics
ISBN: 3030335542

Executive compensation and its fairness to stakeholders are topics of heated debate on platforms ranging from news forums to financial markets. This book stimulates critical thinking on executive compensation and guides academics and practitioners on the key concepts by developing a multi-faceted and multi-cultural framework. It also presents the new ‘Fair CEO Compensation,’ which uses a scientifically developed and structured stakeholder-based approach to reach optimal and fair CEO compensation, without capping bonuses or variable pay by rules and regulations. Financial, non-financial, organizational, strategic, cultural, personal, and social aspects are all taken into account in the framework. In addition to implementation guidelines and real-world examples, the book presents a checklist for businesses to measure the fairness of their CEO compensation based on the suggested framework. Moreover, the author also provides a survey template to help businesses investigate their employees’ perception of the fairness of their CEO’s compensation.

Getting Pay Right: Perceptions of Fairness and the Influence of Transparency and Trust

Getting Pay Right: Perceptions of Fairness and the Influence of Transparency and Trust
Author: Angela Laura Beatty
Publisher:
Total Pages: 284
Release: 2021
Genre: Economics
ISBN:

This project explores employee pay and what it means to get it right through a human values perspective. The project is based on the hypothesis that satisfaction with pay is linked to employee retention, yet satisfaction does not come from higher pay in and of itself; instead, satisfaction with compensation is connected to employees’ perceptions of fairness which are influenced by trust and transparency. This hypothesis was tested using aggregated, non-individually identifiable data from a publicly held Fortune 1000 global professional services firm with 467,000 employees across more than 120 countries. Findings showed that employees are more satisfied with their pay when they believe it to be fair. Consistent with procedural and distributive justice and equity theories, employees believe their pay to be fair when they trust the procedures and processes associated with its establishment as well as the equity of outcomes, both internally from a distributive perspective within the organization as well as externally from a competitive market relevancy perspective. Second, employees trust in the procedure and equity of outcomes when they perceive the source to be competent, caring, honest, and reliable—four qualities to engender trust consistently identified across the work of several notable psychologists. Lastly, perceptions of competence, care, honesty, and reliability are bolstered when there is transparency from the source (in this case the company) about three items enabling employees to validate procedural and distributive equity. These are: (1) the process followed to make compensation decisions; (2) outcomes relative to others; and (3) an explanation of the reasons for personalized decisions (the how, what, and why of compensation). This project demonstrates how pay is symbolic of deeply held human values and expectations around justice, fairness and equitable treatment, all anchored to trust. It offers guidance for how organizations can harness this understanding to design, administer, and communicate pay programs more effectively to improve this aspect of the work experience, and by extension, the lives of people.

Leveling the Paying Field

Leveling the Paying Field
Author: Rick Gillis
Publisher: Simon and Schuster
Total Pages: 184
Release: 2021-09-28
Genre: Business & Economics
ISBN: 1950906973

"How much are you worth? Rick Gillis brings science to the art of getting paid fairly at work." — Adrian Gostick & Chester Elton, Best Selling Authors | The Carrot Principle, Leading With Gratitude & Anxiety At Work “An infectiously evenhanded, useful approach to assessing fairer pay.” — Kirkus Leveling the Paying Field offers anyone who takes home a paycheck, seeking a new job opportunity, or carving out their own career path the opportunity to take pay parity into their own hands. Several books exist on the topic of fair pay, but none offers an individual approach to achieving fair pay like Leveling the Paying Field. In his latest book, author Rick Gillis has created a rich new metric for measuring the value of the work you produce he calls the QTNT® (pronounced: ‘quotient’). Your QTNT score can then be used to reasonably and realistically challenge your current rate of pay. Not only can equal pay for equal work ultimately be realized, but even better, proper pay for outstanding performance becomes the new normal. “This is an important book - for job seekers and hiring managers alike.” — Hung Lee, Curator & Editor | RecruitingBrainfood.com “...in clear and concise steps, he has dispelled any uncertainty of exactly how to level up and get paid what you are worth.” — Alisa Murray, Award winning Columnist and Content Creator | Living the Sweet Life “In Leveling the Paying Field Rick Gillis has brought his lifetime of career management experience to solving one of the hardest aspects of compensation and negotiation: quantifying performance and value fairly and accurately, regardless of role or gender... His ‘quotient’ will work for everyone…” — Lisa Gates, Negotiation & Career Story Coach | StoryHappensHere.com