New Pay Models - an overview
Sarah Maximilian
"The way we work today" - is many times the beginning of a story that talks about the increasing need for collaboration and cooperation. We lead with trust; we value transparency, and we fail forward. We bring people together. "The way we pay" on the other side is an old fairy tale about market value, individual negotiation skills and confidentiality. We often lead with policies, we value secrecy, and we keep things save. We focus on the individual and his/her package. New Pay describes a process to design a compensation framework that fits the corporate culture - by inviting its members to participate in the design of the pay model, and to ensure the framework is in balance with the company's structure, its definition of value creation and its path toward innovation and growth. The New Pay Collective has for many years researched, witnessed, tested and prototyped modern and somehow unique pay models that have several traits in common: Participation - Transparency - Permanent Beta - We-Thinking - Fairness - Self-responsibility - Flexibility In this session we will share some of the (modern) pay models out there. Not to use them as blueprints, but rather to inspire you to engage in the design of your own pay model.
Presentation
New pay “model” is misleading a little bit
This group is capable of having the conversation with themselves
How do we want to work with one another and how do we want to divide pay?
I am proposing to pay per task and capacity and the putting it into play
Asked employees and they wound up getting a choice of 1 week vacation or increase in pay
This is Teal Organization
- Look up Teal Organization Videos
You will have 5 mins and then take a week to consider the conversation
No adjustment, they employee is for final decision
Wrap up Don’t copy and paste
