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Compensation Systems - A Complete Guide

Compensation Systems - A Complete Guide

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Building an effective compensation framework is essential for creating fair compensation systems, having something defensible and sustainable, meeting pay transparency requirements, attracting top talent and, importantly, defusing pay disatisfaction! Shawn Raible, founder of GamePlan Total Rewards, breaks down the structure of sustainable pay systems, from market positioning to job evaluation. Learn how to construct clear pay bands, prevent title creep, and implement practical governance without overcomplicating your HR processes. Key points from the discussion: - There are 5 pieces of the system starting with the comp philosophy - Job architecture helps price roles more easily and accurately - Career frameworks are part giving you another lens to look up and down and across the organization - You don't have to benchmark every role - 50% should be enough - Governance so that there is structure for managing tough decisions without undermining integrity of the system (and defeating the whole purpose) 00:00 The 5 Compensation Framework Building Blocks 04:03 Defining Your Compensation Philosophy 05:34 Compensation Positioning and Peers 09:31 Job Architecture vs Job Descriptions 11:24 Managing Title Creep 12:29 Career Frameworks and Leveling Tracks 15:14 Building Pay Bands and Benchmarking 18:31 Where to Start with Your Compensation Framework 21:17 Compensation Governance 25:12 Why Compensation Frameworks Fail **Find Shawn** Website: https://gameplantotalrewards.ca/ LinkedIn: https://www.linkedin.com/in/seanraible/ **Find Andrea (me)** Website: https://thehrhub.ca/ LinkedIn: https://www.linkedin.com/in/andrea-adams1/
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