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- 🎉 X Gon' Give It To Ya? 🎵
🎉 X Gon' Give It To Ya? 🎵
Today’s edition is brought to you by CandorIQ. A unified platform for Compensation Planning, Employee Total Rewards, Headcount Spend, and Approvals to win and retain top talent with operational excellence. Get better compensation planning.
Read time: 3 minutes
Good Morning Party People! 🎉
The MegaMillions jackpot is up to $1.55 BILLION. If we win, we promise to throw the biggest party you all have ever seen! Get your tickets, the next drawing is today.
Here’s what we got today:
👨‍⚖️ X gon’ give it to ya?
🚨 Stop doing comp wrong
🏨 On-campus hotel?
🎣 Beware of HR phishing
And, of course, MEMES!
MOTD (Meme of The Day)
Think you have great meme skills? Reply to this email with your best meme to be featured in the MOTD.
X Gon’ Give It To Ya?
If you were unfairly treated by your employer due to posting or liking something on this platform, we will fund your legal bill.
No limit.
Please let us know.
— Elon Musk (@elonmusk)
3:00 AM • Aug 6, 2023
A few days ago, Elon Musk posted (tweeted?) that X would cover legal fees for those that have been fired as the result of their online activity on the platform. Apparently, there is “no limit” to the costs of the legal bills.
Don’t go after your employers on X quite yet…
“Unfairly treated” is quite ambiguous, and it’s unclear how this process would take place. Some also pointed out that many were “unfairly” terminated from Twitter in recent months. Will X cover their legal fees?
Elon also Xeeted (our new name for tweets) that his fight with Mark Zuckerburg will be live-streamed on X. All proceeds will go to charity for veterans. Grab your popcorn.
Stop Doing Comp Wrong
In today's dynamic business landscape, where employee retention holds the key to an organization's success, equipping managers with the tools for effective communication about compensation has emerged as a pivotal strategy.
As revealed in a recent Gartner survey, only 32% of employees believe their pay is fair, and merely 34% perceive it as equitable. However, the issue runs deeper than mere numbers. The survey emphasizes that employees who consider their pay inequitable are 15% less likely to stay with their employer and experience a 13% drop in work engagement compared to those who view their pay as fair.
When employees lack trust in their employers, they tend to doubt the fairness of their compensation.
Organizations must focus on enhancing communication channels and equipping managers with the right tools. A significant portion of employees seeks information from colleagues or third-party pay sites, indicating a communication gap within organizations.
By fostering a culture of transparency, organizations can build trust and open dialogue, ultimately bridging the pay perception divide.
A critical component of effective communication is education. When employees understand how their pay is determined, their trust in the organization increases by 10%, and perceptions of pay equity surge by 11%. This emphasizes the necessity of educating employees about compensation processes, making it a cornerstone of fostering trust and retaining talent.
It's crucial for HR leaders to empower managers with the tools and training needed to make equitable pay decisions, while also considering the broader implications of compensation.
By acknowledging these insights and facilitating open conversations about compensation, managers can reinforce their bond with employees, cultivate a more inclusive and trusting work environment, and ultimately boost retention rates. The "Great Resignation" phenomenon, propelled by factors like inflation and skill shortages, further accentuates the urgency of such practices.
Nurturing strong employee-manager relationships and fostering understanding around compensation are indispensable strategies for boosting employee retention.
As managers gain the necessary tools to address pay equity, they contribute significantly to the creation of a positive work culture, higher engagement, and ultimately, long-term employee loyalty.
Party Snacks (Weekly Resources)
CandorIQ Blog - Everything you need to know about creating an effective compensation plan for your organization.
The Recruiting Life is a whimsical view of the world of work with articles, comics, and more. Subscribe now.
Blind - Blind is a place where 8M+ professionals worldwide share advice, provide honest perspectives, discuss company culture and discover relevant career information. Professionals anonymously communicate in private company channels and openly with users across industries.
Google’s On-Campus Hotel
Google has a hotel. This is news to us. And in an effort to bring more employees back to their Mountain View headquarters, they’re offering a “Summer Special” for $99 a night. Unfortunately for Googlers, the company will not reimburse their stay.
Average rent in Mountain View is $3,230 per month. So, it’s actually cheaper to live at Hotel Google for the month. Hotel residents also get free meals.
The Google In and Suites looks pretty dang cool. Only problem? Work-life balance would cease to exist.
More and more companies are requiring employees to return to the office. Even Zoom is requiring employees to head back to the office. If Zoom is requiring their employees to commute to a physical location, it’s not looking good for WFH (we’re team Google Meet, anyways).
Beware of HR Phishing
Roughly 50% of phishing emails use HR-related text in the subject line. And the phishers don’t just target HR professionals, they target other employees using HR language.
“In the company’s Q2 top-clicked phishing report, nearly 1 in 3 users were likely to click on a suspicious link or comply with a fraudulent request. The most popular emails with HR-related subject lines focused on dress code changes, training notifications, W4 updates, performance reviews and vacation policy updates.”
HR data is highly valuable information, so it’s important to constantly be on the lookout for phishing scams.
Some of this may be obvious, but here’s how you can be sure you’re preventing phishing attacks:
Never provide information to an untrusted source
Double-check the sender's address to make sure it’s not an imposter
Review bank statements for suspicious charges
If it smells phishy, it’s probably phishing. Warn your employees. Don’t fall prey. Office Party has your back.
For more on phishing, check out KnowBe4.
Party Favors (extra reading)
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