Salary discussions – managers dread them and employees feel anxiety at the thought of them. Why? Because talking about money is emotional and most managers haven't been trained to handle this difficult conversation effectively.
If discussions don't go well, you wind up with demotivated employees, high turnover and higher recruiting and training costs. The key to salary conversations that motivate, improve morale and performance lies in how you talk to your employees and frame the message about compensation.
If you don't clearly communicate why an employee is getting the raise they're getting (or not getting one at all), employees are left to fill in the gaps with their own imagination. And that always leads to disaster.
That's why there's so much at stake in conversations about pay. Here's how to get them right...
- Managing expectations when raises are not automatically tied to promotions
- The best way to handle: "why does so-and-so make more than me?"
- How to set the stage for difficult conversations
- Why giving big raises actually does more harm than good in the long-run
- The double-edged sword of promoting "A" players
- How do you tell someone he's just average
- The counter-offer: What to do when a good employee gives notice
- How to handle pay disparities with compensation "bands"
- Why adding too much sugar to performance reviews leads to salary conversation disasters
- The proper way to factor in employee feelings and perceptions when discussing salary
- When and how to use the three types of bonuses (including the golden handcuffs)
- Executing a meritocracy culture: The ideal compensation strategy
- How botched pay conversations landed this supervisor in hot water
- Changing the perception of raises from entitlements to an extra
- Why you must overcome your natural desire to play Santa Claus
- Handling three common employee negotiation tactics: The preemptive strike, the end-around and the sob story
- Why you should always allow a little wiggle room in salary negotiations
- Examples of what to say and what not to say when dealing with above-average, average and below-average employees who are getting raises commensurate with their level of performance
|Delivery:||Immediate electronic download (in PDF format)|