Resolutions and Priorities for 2023

Paul covered three topics under the broad theme of disruption: The World Economic Forum Future of Jobs report, which explores disruption in the labor market A recent academic paper on the occupation-level impact of generative AI (and a handy Washington Post summary visual) Thoughts on how measuring churn and gross change can inform a different perspective than simply measuring net change.

In this episode, Paul summarizes our recent research on the size of compensation teams and the factors that affect team productivity and growth. Access to the research report can be found here:https://www.novoinsights.com/insights/is-your-compensation-team-understaffed

Paul is joined by Richard Rosenow, VP of People Analytics Strategy for One Model. In this conversation, they explore the distinction between People Analytics and the current boom in generative AI, the importance of data modeling and data strategy for generating useful analytics, and some important considerations for People teams as they build and scale a People Analytics function.Among the content referenced in the episode:The One Model blogThe People Data Platform whitepaper

As the People Tech market explodes with AI innovation, it's critical that People leaders become wise consumers of AI. In this podcast, Paul explores the key questions you need to ask when your People Tech vendors release AI innovations. 

Paul provides his take on two key hot topics in the People space: AI and Pay Transparency.Artificial Intelligence In The Spotlight ChatGPT is unavoidable, and the applications for HR are real. Related article here. Workday is getting sued about their algorithm (linked here), but also is describing very valuable ML-based enhancements to their product suite. Their strategy announcement is here. Cool innvation in People Analytics using AI. Orgnostic announcement. Making Pay Transparency WorkNovo Insights blog here.

Paul and Bryan discuss what the medium to long-term impact of pay transparency might be, based on academic research and other thought leadership in the space. Will wages go up - or down? Will pay equality increase? What unintended consequences might we see? What new pay strategies might arise?Studies cited in this episode:The economic effects of expanded compensation disclosuresDoes Transparency Lead to Pay Compression?Equilibrium Effects of Pay TransparencyThe Austrian Pay Transparency Law and the Gender Wage GapDo Firms Respond to Gender Pay Gap Transparency?The influence of pay transparency on (gender) inequity, inequality, and the performance-basis of pay

Paul chats with Justin Hampton, Founder of CompTool, about what organizations are doing in an era of pay transparency in job postings. They share what the data shows is happening in posted pay ranges and idenify how organizations should think about these ranges as they compete for talent.Referenced in the show:Article that states number of job postings on Indeed fell after transparency law went into effect: Here(Note that underlying JOLTS data did not show a corresponding change in opennings)CompTool.com

Part 1 of 3 to discuss what's happening with Pay Transparency. Paul is joined by Chris Ward, Partner with Foley & Lardner, to discuss the changes in the law and how to approach compliance with those changes.Foley article summarizing 2023 changes: https://www.foley.com/en/insights/publications/2023/01/navigate-new-state-pay-transparency-laws-2023Cheat sheet of laws: https://synd.io/blog/us-pay-transparency-legislation-cheat-sheet/

 Paul and Greg discuss what happens that causes an employee to consider leaving a company, and how this affects the approach we take as HR practitioners in diagnosing employee attrition. Greg also highlights the work he does to help individuals network more effectively without going to networking events.Greg Roche helps introverts grow their networks without going to networking events. He is the author of The Fast and Easy Guide to Networking for Introverts, he posts every weekday on LinkedIn about networking, and he recently launched The Introverted Networker which is his weekly newsletter that delivers one networking tip to your inbox every Saturday morning. He's a VP of Compensation at large healthcare company and has spent the last 25 years of his professional life working in the healthcare, consulting, cybersecurity, and multifamily real estate industries. Greg is a Colorado native who has lived in the Denver area for the past 20 years. Sites / Links mentioned in the show:https://www.linkedin.com/pulse/what-happens-right-before-your-best-employee-quits-greg-roche/ https://www.gregsroche.com/ https://www.novoinsights.com/novoretain

Paul is joined by Alex Marcus, CEO of Integral Recruiting Design and co-founder of the ATS Think Tank, to discuss metrics in the Talent Acquisition space.Alex's website: https://integralrecruiting.com/ATS Think Tank: http://ats-thinktank.com/