Cerini Connection: Pay Transparency & Retaining Employees

December 2023 Cerini Connection

Topic: Pay Transparency & Retaining Employees

Join Ken Cerini and guests Susan Kreeger and Jill Krumholz from RealHR Solutions for our monthly webinar series helping businesses and nonprofits!

The conversation delved into several key areas:

1.) Understanding Pay Transparency:

• We explored the definition of pay transparency, its legal requirements, and the broader implications it holds for organizations. Understanding these aspects is crucial for any business or nonprofit seeking to navigate this evolving landscape.

2.) The Connection between Pay Transparency and Employee Retention:

• Pay transparency is more than a compliance issue; it’s a cultural one. We discussed how transparent practices in compensation can foster trust within your organization, positively impacting employee engagement and retention.

3.) Strategies for Implementing Pay Transparency:

• Implementing pay transparency is a nuanced process. We shared best practices for communicating about compensation transparently, addressing potential questions and concerns, and ensuring your approach aligns with your organizational values and goals.

To further support you, our speakers provided Jill and Susan have provided a few additional key takeaways:

• Start with a Clear Policy: Develop a clear, written policy on pay transparency that aligns with your organizational goals and legal requirements.
• Communicate Effectively: Ensure open and honest communication about compensation practices with your employees.
• Train Your Leaders: Equip your managers and leaders with the tools and knowledge to handle conversations about pay effectively.
• Regularly Review and Adapt: Continuously assess and adjust your pay transparency practices ensuring they remain relevant and effective.

Additional Resources

DOL NY Pay Transparency DOL NY
Pay Transparency: What It Is and Laws by State ADP
Building Pay Equity Into Your Business PayScale

If you have any further questions or would like to discuss how RealHR Solutions can assist your organization in these areas, please feel free to reach out to Jill and Susan here.

(Originally aired 12/6/23)

Jill brings to RealHR experience as a business owner, executive search consultant and corporate HR professional. Throughout her career, she has had the ability to build strong relationships, identify client needs and help companies find solutions. As a search professional she used these strengths to source and identify talent. Today as a Co-Owner & Managing Director with RealHR, she applies these skills within a broader context, leading RealHR’s business development efforts and assessing how to best support clients in meeting their goals. Jill’s mantra for providing value is “finding the client where they are.”