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Tue, Jun 25

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SHRM24 Chicago (hybrid virtual)

What's your Edge? Compensation, Benefits, and Pay Equity.

Effective strategies and best practices that strengthen pay practices.

What's your Edge? Compensation, Benefits, and Pay Equity.
What's your Edge? Compensation, Benefits, and Pay Equity.

Time & Location

Jun 25, 2024, 2:00 PM – 3:00 PM

SHRM24 Chicago (hybrid virtual)

Guests

About the event

This session will delve into the crucial aspects of fair compensation practices within an organization. It will cover the various components of pay philosophy, compensation design,  including salaries, bonuses, and non-monetary benefits. Additionally, the session will explore the concept of pay equity, highlighting the importance of ensuring fairness and parity in wages among employees regardless of gender, race, or other differentiating factors. Strategies to analyze, address, and mitigate pay disparities will also be discussed, emphasizing the significance of creating an inclusive and equitable workplace.

Workplace Application: Learn and apply compensation and pay equity best practices and effective strategies that will help strengthen your pay practices, retain good talent, and maintain your competitiveness within the market.

Learning Objectives:

1. Discuss: What is an organizational pay philosophy and why does it matter?

2. Learn: Best practices for sustainable and competitive compensation design.

3. Learn: How to infuse pay equity into your compensation philosophy and plan design. What does pay equity really mean?

4. Backtrack: What should I do now? Discuss ways to mitigate pay disparities to create an equitable workplace, regain trust from your employees, and position the company to acquire and retain top talent.

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