Sean Luitjens - HR Tech 2023 - Leveraging People Analytics for Compensation Allocation

Send us a text Summary:Sean Luitjens is a General Manager of Total Rewards Analytics at Visier. He has over 25 years of experience working on talent acquisition software and compensation benefits software for various companies. In this episode, Sean talks about how people analytics can help businesses make informed decisions about compensation allocation and pay equity. Chapters:[0:00 - 4:30] Introduction•Welcome, Sean!•Today’s Topic: Leveraging People Analytics for Compensation Allocation[4:31 - 11:36] Why is it difficult to allocate compensation despite all the technology available? •HR practitioners are asked to differentiate pay while also making it equitable•An increasing amount of data must be pulled together to make a business case for the CFO[11:37 - 22:14] How do companies address pay equity in relation to talent retention?•Why most companies are implementing long-term pay equity remediation plans•Sometimes doing the right thing means that organizations need to endure some turnover[22:15 - 26:18] What could companies do to start fixing their pay inequities?•Build a foundation of tools to identify pay equity issues and develop a pay philosophy to address those issues•Companies should not be afraid to be wrong[26:19 - 26:57] Closing•Thanks for listening!Quotes:“At a high level, the [HR] practitioner is being asked to pay differently but the same.”“Don’t be afraid to be wrong . . . The good and the bad with pay equity is that you can’t fix it on one given day, so you have the ability to aim, fire, aim, fire as you go.”Contact:Sean's LinkedInDavid's LinkedInPodcast Manger: Karissa HarrisEmail us!Production 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