The Future of Compensation with Kathryn Petralia, Keep Financia

Today’s business environment – with rapidly changing employee behavior, unprecedented resignations, and evolving socio-economic conditions – has rendered traditional recruiting and retention methods ineffective. The market is showing the need for an innovative approach to employee engagement and compensation.In this HRchat episode, we consider the future of compensation. Our guest today is Kathryn Petralia, co-Founder and President of Keep Financial, a tech company with a goal to revolutionize compensation and employee engagement.Questions for Kathryn include: What's the mission of Keep Financial? At a high level, how are you helping HR pros, leaders and employees?  (recruitment, retention, and performance)How does high employee morale along with employee engagement lead to higher productivity, less turnover and ultimately increased compensation ROI for that organization?According to a report from The Conference Board, salary budgets are set to increase 3.9% this year – the largest amount since 2008: “The rapid increase in wages and inflation are forcing businesses to make important decisions regarding their approach to salaries, recruiting and retention. In particular, companies are likely to raise wages aggressively for their current employees or they will risk even lower retention rates.” Tell me more about the impact of increased wages and rising expectations around compensation.  Your team recently announced updates to the Keep Employee Engagement Platform (KEEP). How does KEEP offer an innovative way for employers to direct compensation into plans that enhance the engagement, retention, and performance of their most valuable employees? Tell me about the process and clever tech behind what you do.About Keep Financial Technologies, Inc.Keep Financial is revolutionizing compensation to directly improve recruiting, retention, and performance – aligning compensation with business objectives and ROI. Through the intuitive KeepTM Employee Engagement Platform (KEEP), employers can create and track customizable Vesting Cash Plans to deliver bonuses and incentives that attract top talent, assure retention, and increase overall employee morale and productivity.KEEP takes compensation to an entirely new level – providing employees with usable capital up front to satisfy personal goals while securing businesses’ long-term success. Keep Financial is backed by Andreessen Horowitz, Launchpad Capital, Thomvest Ventures, Cambrian Ventures, and Worklife Ventures. To learn more about Keep and start attracting and retaining talent today, visit keepfinancial.com  We do our best to ensure editorial objectivity. The views and ideas shared by our guests and sponsors are entirely independent of The HR Gazette, HRchat Podcast and Iceni Media Inc.   Support the showFeature Your Brand on the HRchat PodcastThe HRchat show has had 100,000s of downloads and is frequently listed as one of the most popular global podcasts for HR pros, Talent execs and leaders. It is ranked in the top ten in the world based on traffic, social media followers, domain authority & freshness. The podcast is also ranked as the Best Canadian HR Podcast by FeedSpot and one of the top 10% most popular shows by Listen Score. Want to share the story of how your business is helping to shape the world of work? We offer sponsored episodes, audio adverts, email campaigns, and a host of other options. Check out packages here.Follow us on LinkedInSubscribe to our newsletterCheck out our in-person events