How to create your Compensation Strategy for 2023-24: benchmarks, surveys, planning and communication
If you’re racking your brain about salary ranges, total rewards and benefits, compensation benchmarking and more for FY 2023-24, this March we are bringing experts to help you with solid advice for building a compensation strategy that will drive fabulous biz outcomes. This free, virtual The Shape of Work Community Masterclass is happening on March 16, 2023 and is powered by our friends at CompUp by HireSure.
The result: Give you the systems, processes and tools to help you set your compensation strategy for 2023-24
Who should attend?
CXOs, Founders, HR and People Ops
PANEL 1: How to use benchmarks and surveys to design your Compensation strategy
Time: 3:30 PM - 4:10 PM
Duration: 40 mins (Moderator-curated questions + audience’s Q&A)
When it comes to setting salary bands across roles and levels, unfortunately, organisations choose to operate in the dark. Through this panel discussion, attendees will learn why data is core to setting up a compensation strategy. Attendees will see first-hand the benefit of using benchmarking and surveys to derive insights for setting up pay bands.
In this session, you’ll learn:
How to identify your organization’s compensation goals
How to analyze the data from benchmarks and surveys to inform compensation decisions
Ensuring fair and equitable compensation
Balancing internal equity and external competitiveness in your compensation strategy.
Trends in compensation benchmarking and survey data, including the rise of flexible work arrangements and the changing workforce demographics.
PANEL 2: How to do Compensation planning using the systems learnt in Panel 1
Time: 4:15 PM - 4:55 PM
Duration: 40 mins (Moderator-curated questions + audience’s Q&A)
In this session, you’ll learn:
The role of HR technology in streamlining compensation planning processes
Using data analytics and compensation software to create effective compensation plans
Incorporating market trends and economic conditions into compensation planning
Communicating compensation plans and decisions to employees and stakeholders
About CompUp:
CompUp is a full-stack compensation management platform that aggregates all the compensation data at one place. This empowers the companies to make smarter data-driven decisions.
Why CompUp:
It serves as a superpower for the companies to leverage data and insights to make fair pay a reality so that they can retain and attract top talent. CompUp benchmarking data is built with 200+ funded startups and is increasing by 25 to 30 companies per month.
CompUp powers you to:
Plan salary bands using the largest compensation dataset
Multi-level access controls for different functions
Run multiple simulations and execute appraisal cycles