Talent Management Pay Analysis: Can It Really Pay Off

1
Talent ManagementPay Analysis Can It Really
Pay Off ?

• Chris Byrd
• HR Spring Forum
• May 7, 2007

2
The Goal of Pay Analysis

• Effectively managing (recruiting, developing,
  retaining) the talent in our agencies so we can
  fulfill our missions. We do so by ensuring we
  have
• External competitiveness
• Internal equity
• A performance culture that consistently
  encourages employees to bring their best
  performance to the job

3
External Competitiveness The Risk of Misjudging
the Market

Job Size
4
Implications for HRWe need to do a better job of
. . .

• Understanding the competitive market in which we
  operate
• Identifying the most strategic occupations in our
  organizations
• Measuring the external market for our most
  strategic occupations
• Making the case for funding (salary) decisions
  that directly impact the strategic priorities of
  our agencies

5
Resources to Help You Measure External
Competitiveness

• Salary data from the Employment Security
  Commission and the Bureau of Labor Statistics
• CompData Salary Survey
• Southeastern Salary Conference data
• IT Salary Assessment Project
• Training from OHR How to Design and Administer
  a Salary Survey
• Ad hoc salary surveys

6
Internal Equity The Risk of Not Managing Pay
Equitably

Time
7
Implications for HRWe need to do a better job of
. . .

• Measuring and evaluating internal equity
• Taking on the challenge of dealing with poor
  performance
• Keeping salaries in line with responsibilities
  and value to the organization
• Building a performance culture in our
  organizations where increased value is rewarded

8
Resources to Help Manage Internal Equity

• HRIS
• Regular reviews of salaries within your workforce
• Diligence in on-going salary administration
• Your HR Consultant
• Statistical tools to assess internal equity
• Practical tools to correct salary inequities

9
Managing TalentThe Risk of Not Rewarding
Performance

Time
10
Implications for HRWe need to do a better job of
. . .

• Measuring and evaluating performance
• Identifying those most valuable in helping the
  organization succeed
• Partnering with your budget office to identify
  funds for rewarding performance
• Helping employees think in terms of careers
  rather than just jobs in our organizations

11
Potential Impact of Career Development Planning
12
Resources to Help You Recognize and Reward
Performance

• Train supervisors in performance management
• OHRs Virtual Classroom EPMS Training
• Reward and recognition
• Career path development structured ways for
  rewarding employees as they become more valuable
  to your organization
• OHR can partner with you to plan and implement
  career paths

13
Summary

• Analyzing our pay practices can play a large role
  in helping manage the talent pool in our
  organizations
• Failure to do so can expose us to significant
  risks
• Market risks
• Talent retention risks
• Morale risks
• HR adds the most value when it effectively
  manages talent so that the organization is best
  positioned to fulfill its mission

14

• Questions?