This post is the first in a three-part series of blogs about becoming a Comp Strategist.
In the world of a Compensation Strategist, disorganization is the enemy.
A desktop full of hectic spreadsheets is their nightmare.
An office overflowing with graphs and datasheets makes them shudder.
To a Comp Strategist, being unorganized means being out of control and out of touch — with their data, with their company’s goals, and with their role at the company.
What’s so bad about being a little unorganized?
Compensation Strategists know that having multiple data sets from multiple sources (a.k.a. one of the easiest ways to get accidentally disorganized) is a slippery slope — one that leads you into reactive mode.
(Cue the dramatic music!)
Reactive mode is exactly as it sounds.
You’re reacting to survey middlemen.
Reacting to line managers.
Reacting to the old data at hand.
Just taking and fulfilling the latest request.
There’s no time to breathe, let alone time to think about the big picture. And that means there’s no time to be strategic about your work.
That doesn’t sound productive — how do I stay organized?
First and foremost, you have to break up with those slow-going manual processes.
It’s not them — it’s you! (Well, maybe it’s them, too…)
Those processes might have worked for you once. But the days of exporting data and sending it off to the survey house are over.
You’re sick of waiting months to get outdated information you then have to age, weight, and adjust — all for an estimated number.
That’s why you’re becoming a Compensation Strategist!
And a Comp Strategist demands certain standards from their data and their processes.
For one thing, they want their information centralized and organized so they can access it immediately.
And the information they’re accessing? Comp Strategists want it is as real-time as the law allows. That way, they know where the market is at — accurately — right away.
They’re pushing for these advances for one big reason:
Compensation Strategists know having access to organized, real-time data will empower them to be more proactive and strategic in their role.
Okay, I’ve broken up with manual processes…what now?
It’s time to take your methods (and, consequently, your career!) to the next level.
Comp Strategists have hyper-organized tactics for getting and using the right data for their organization.
(Notice we said “the right data” — that means data specific to their labor market, their company, and even their peer groups.)
That means investing in more real-time, HR-sourced data and next-generation technology.
That means having a central place where you can get the freshest data, all the time, that’s tailored to your specific organization.
That means allowing a tech solution to take care of the “manual processes,” so you can focus on what matters — being strategic about your comp philosophy and aligning it with company’s goals.
(Don’t worry, we’ll get to that soon enough!)
In the meantime, go forward and be organized, you Comp Strategist in the making!
If you want to hear a little more about why Compensation Strategists take being organized so seriously, give our latest Comp + Coffee episode a listen!
And if you love spoilers? Download our free ebook, Becoming a Comp Strategist, to kickstart your compensation transformation today.