Jeremy Feinstein and Kevin Plunkett - WorldatWork 2022 Series - The Past, Present, and Future of Compensation Surveys

Send us a text Summary: Jeremy Feinstein is the managing director at Empsight International, LLC, a Human Resource consulting firm that specializes in compensation consulting and helps companies make strategic decisions involving their employees. Jeremy primarily focuses on conducting compensation surveys in niche markets, both domestically and internationally. Kevin Plunkett is the VP of Partnership at Salary.com. He has 15+ years of human capital experience in high-growth technical organizations and he specializes in staffing consulting and business development.  In this episode, David and Kevin talk with Jeremy about the future of surveys.  Chapters: [0:00 -2:36] Introduction •Welcome, Jeremy and Kevin! •Today’s Topic: What is the future of surveys?  [2:37 -9:27] Jeremy’s perspective on surveys of the past •The challenges of surveying companies  •How new job roles and titles have changed the makeup of compensation [9:28 -13:14] How today’s surveys are created and used •Using custom data science software to recognize errors and problems in data •Why matching as much data as possible yields to more robust results [13:15 -21:43] The future of compensation surveys and data •Capturing total compensation in surveys •Leveraging AI to draw meaningful information from raw data [21:44 -22:24] Final Thoughts & Closing •Thanks for listening! Quotes: “The AI-modeled data and the crowdsource data are very useful for an individual just to understand what their value is when they're negotiating a compensation package with an employer is very valuable . . . I think there's always gonna be a role for salary surveys and the more they can automate it, the better.” “We're gonna have to go beyond just compensation and look at the total rewards package. Just drawing intelligence from all the different compensation data and deriving more analytics from it and providing data for decisions, more than just the raw data itself.”Contact:David Turetsky LinkedInKevin Plunkett LinkedInJeremy Feinstein LinkedInProduction by Affogato Media  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