Gauging the Current State of the EU Pay Transparency Directive

Gauging the Current State of the EU Pay Transparency Directive

Season 2, Episode 1: In this season’s premiere of Reward Nerds we’re back with MEP Kira Marie Peter-Hansen gauging the state of the Pay Transparency implementation process. Kira was one of two chief negotiators on the Directive, and she will take us on a tour behind the scenes of the political dialogue leading up to the adoption of the Directive and we will deep-dive into the likely near future of pay transparency across Europe. Spoiler Alert The episode begins with a brief recap of Kira’s personal journey, from being the youngest elected MEP ever to becoming chief negotiator for the EU Pay Transparency Directive. Then, in classical Jon style, we’ll dive headfirst into the heart of the matter: What happens now? In their conversation, Kira and Jon will touch upon the status of the transposition across the member states and the announced and expected delays, as well as recent changes in the political climate and the consequences for Europe and gender equality; and then of course the process going forward. They review the future of attraction and retention in Europe, the (potential) role of collective agreements, and the possible gains for companies who are at the forefront of implementation and equality. Finally, Kira shares her recommendations to European companies - and without revealing too much, we can say that Kira is optimistic.  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

The role of DE&I vs. Rewards - their interplay now and in the future

In this episode of Reward Nerds, Jon is talking with Tina Albrechtsen, who is not only an expert within the field of Equality, Diversity, and Inclusion, she also has a keen interest in understanding the brain and how that affects organizations and the solutions we develop. Together they explore the interplay within the Rewards and DE&I disciplines and their impact on the business. Plot spoiler: In this episode you will also learn about how unonscious biases affect decision-making and why it's not enough to rely on people "doing the right thing" without policies and guidance. Tina and Jon touch upon how to manage culture changes within the organization and how to ensure the work we do as Reward Nerds or DE&I Nerds have a real impact on the business - not just on principles and culture but also on profitability. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Preparing the leadership team for Pay Transparency

Stephen Parker is the founder, owner and director at Leadership & Talent, which is an organization that makes leadership training. His mantra is “everyone deserves a good leader” and through more than two decades he has been training leaders and not least training leadership training program designers across the globe, creating the foundation for great places to work. Spoiler alert: In this episode Jon and Stephen discuss the change management side of the pay transparency directive, as this change in the legal landscape around pay will require training managers on how to have these new conversations and avoid the pitfalls of existing habits around pay conversations, such a pay secrecy and asking candidates about pay history. They cover the potential and the pitfalls of the change management side of Pay Transparency, and Stephen provides valuable insights on how to get c-levels engaged in Reward projects to ensure your funding.  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Working with Rewards in a low profit margin business

Bjørn Kjerulf is a seasoned player in the Rewards industry. He started as a student assistant in the 90s conducting his first salary survey from scratch, and since then he’s been a key figure in developing our nerdy niche field from the more transactional Comp & Ben to the growing field of Rewards that we see today. His career encompasses a variety of different angles on Rewards, from a union, to Mercer as a consultant, to Carlsberg and then the past 14 years he has spent with ISS. This is a company with more than 300.000 people and a profit margin just above 5%, so most of the episode is centered around working with Rewards in these conditions. Spoiler alert: Bjørn begins by telling the story of ISS, incl. their unique company culture and core values; he even takes us through the impact of Covid-19 on their business. He provides examples of the many thousands of lives they touch on a daily basis and the sheer numbers are impressive: more than 100.000 recruitments per year. At ISS they have two types of employees, Place Makers and Support Staff, the latter is what most companies would refer to as “white collar workers”, and once a year even the top management join the frontline staff as cleaners, etc. to understand the core of their business. Bjørn then continues to explain how their company culture is built on respect and how this also applies to the way they spend their budgets. He explains how they recruit and retain the most brilliant and proficient people possible, and how this makes for a very exciting Rewards environment. In addition, Bjørn and Jon discuss how being a low profit margin industry impacts the company culture and internal decision-making and salary setting processes. And of course they also touch upon the EU Pay Transparency Directive and how ISS will handle the implementation of this, including the change management task ahead, the challenges of using Excel as the primary tool and not least the challenge of ensuring pay equity across collective bargaining agreements with the Birmingham case as the worst-case scenario. They discuss the breadth of the project across many functions including HR, Finance and Legal. CSRD reporting requirements also come up in the discussion, highlighting some of the challenges of reporting globally on fx pay gaps without factoring underlying cultural difference into the numbers, which leads to a chat about which numbers are relevant to compare on a global scale. Finally they philosophize on the future of Rewards post pay transparency. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Differences in Rewards between Europe and the United States

In this episode Jon is chatting with Søren Mieritz Anderson, a seasoned Global Reward Director, who has worked in both European-based and US-based global companies and subsidiaries. In the interview, they reflect on the various differences there are in the ways we work with Rewards on each side of the pond, and they also touch upon some of the implications of and experiences with pay transparency regulations and company policies. Spoiler alert: Søren starts by reflecting on the birth of the Rewards discipline in the Nordics and his own road to our nerdy niche field. He then goes on to discuss some of the key differences of working with compensation and benefits in a European setting vs. an American setting, incl. the role of healthcare benefits and taxation. This leads our two Reward Nerds into a talk about Total Reward Statements and the impact of a strong brand on attraction and retention. We are also pampered with a short reflection on new ways of working with Global Rewards in the age of zoom calls and hybrid work models and a longer talk about pay equity, pay transparency and the role of unions and collective bargaining agreements. Søren shares his insights on how to work with varying degrees of transparency requirements across states and before the interview concludes they briefly return to the role of taxes in pay setting and how sales compensation is its own unique discipline. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.