The Importance of Compensation Roundtable

Managers should pay more attention regarding about the compensation roundtable. Effective manager’s communication is important in the work industry as studies shows that a lot employees are receiving lower pay increase than their previous years. Some employees also expect that their pay should also increase since the economic news is improving. Different expectations between the employees and managers can cause problems. Employees tend to neglect their work if their managers do not face their expectations.

Managers should pay more attention on how to communicate well regarding compensation roundtable to their employees. Some communication strategies include building the business case to managers for pay communications, training managers to deliver pay messages effectively, and measuring the impact of these communications.

There are only 10% of managers that conduct effective guidance regarding compensations to their employees. Some of the best practices that managers can do about compensation problems are to understand the importance of your role in pay communication. Managers should think that pay related activities are the roles of Human Resource practitioner shall do. As the manager, it is also important to know that proper communication about pay will help increase the productivity of their direct reports. Also, take accountability for an effective pay communication strategy.

The task of the managers is to deliver proper pay communications to the employees. Managers should pay attention that open communication is important between employees as it builds confidence and critical mindedness within the organization.

Moreover, managers should practice dealing with real life situations. They should explain well to the employees about why they are just paid in this certain amount and what the employees should do so that they can earn more.

In fact, a pay-related communication from a manager has three times the impact on engagement, performance, and retention as that same communication coming from a central function such as the Human Resources Department.

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