Discussing the Current State of Compensation - ADP MOTM 2024 Expert Panel

Send us a text During ADP Meeting of the Minds 2024, David led a panel discussion about the current and future state of Compensation. He was joined by Demetrice Saulsberry, Sr. HRIS Manager at Trulite Glass & Aluminum Solutions, Garrett Valencia, Total Rewards & Payroll Manager at BSH Home Appliances Corporation, and Lyndsey Benson, VP of HR at Steve Madden. In this episode, David and the panel of experts discuss some of the present day issues that Compensation practitioners face, upcoming events in 2024 that will impact the world of HR, and how future technologies could help HR teams save valuable time and effort. Chapters[0:00 - 11:38] Introduction• Welcome, Demetrice, Garrett, and Lyndsey!• First, some context for the current state of HR[11:39 - 26:33] Top 3 surprising HR events from 2023• Surveys say that people do not think they’re being compensated fairly• The relationship (or lack thereof) between compensation, cost of labor, and cost of living[26:34 - 41:52] Anticipations for HR changes in 2024 • How companies should approach job descriptions, pay ranges, and career frameworks• Total direct compensation and long-term incentives[41:53 - 53:30] Looking forward to 2025• How changes near the end of 2024 will impact organizations in 2025• What about 2025 scares HR experts?[53:31 - 54:12] Closing• Thanks for listening!Quotes“If you haven’t published [geographic differentials for employee pay], then it’s going to be a bigger problem for you because you’re making a one-off decision if an employee decides to move.”“When you’re deciding [an employee’s] pay, it’s the only time when you have to reference the person [not the job].”Contact:Demetrice's LinkedInGarrett's LinkedInLyndsey's LinkedInDavid's LinkedInDwight's LinkedInPodcast Manger: Karissa HarrisEmail us! To schedule a meeting with us: https://salary.com/hrdlconsulting For more HR Data Labs®, enjoy the HR Data Labs Brown Bag Lunch Hours every Friday at 2:00PM-2:30PM EST. Check it out here: https://hrdatalabs.com/brown-bag-lunch/ Produced by Affogato Media