Show Me the Money: Compensation Strategies with Jason Smith
Welcome to the Build A Vibrant Culture Podcast, where clarity, energy, and results collide! This week, Nicole Greer dives into the world of compensation with Jason Smith, Principal Compensation Consultant at Gallagher's Compensation and Rewards Consulting practice. With a career journey that started behind the bar at Applebee’s and led to becoming a recognized expert in compensation strategy, Jason is here to pull back the curtain on the complex world of pay structures, transparency, and fairness.In this high-energy conversation, Jason shares how to balance internal equity with market competitiveness, the critical difference between pay equity and pay equality, and the evolving trends in compensation strategy post-pandemic. Whether you’re an HR leader, business owner, or team leader, this episode is packed with actionable insights to help you pay your team right.Highlights from this episode:[00:09:52] Pay Equity vs. Pay Equality Explained: Jason clearly defines the difference between pay equity (eliminating wage disparities) and pay equality (ensuring no discrimination). Understanding these concepts is critical for fair compensation practices.[00:19:08] Evolution of Compensation Strategy Post-Pandemic: Jason discusses how compensation strategies have evolved over the last five years, from remote work challenges to pay transparency becoming an industry standard.[00:27:41] Navigating Pay Transparency Laws: Jason provides practical advice for HR professionals preparing for pay transparency regulations, including the importance of maintaining accurate and up-to-date salary ranges.[01:03:31] Don’t Try to Do It All Yourself: Jason’s closing advice to HR professionals is powerful—don’t be afraid to ask for help. Whether navigating compensation strategies, compliance, or pay transparency, experts can provide the support you need.Connect with Jason:Email: jason_smith@ajg.comLinkedIn: https://www.linkedin.com/in/compenjason/Listen today at www.vibrantculture.com/podcast or your favorite podcast platform!Learn more about Nicole Greer, the Vibrant Coach: https://www.vibrantculture.com/