One of the biggest misconceptions about comp?
That, in the business world, we’re an isolated little island, doing our own thing.
At some organizations, that might be the case — we get how niche our industry is!
But Comp Strategists know that for any organization to succeed, business philosophy and compensation philosophy need to align.
To get comp a seat at the table (and to really highlight the importance of your role as a comp pro), it’s time to become a strategic ally to the rest of your business.
You’ve got my attention. How do I become a strategic business ally?
Comp Strategists know that the first step to becoming a strategic business ally is being comfortably familiar with their organization.
The best way to accomplish that?
By keeping an open line of communication between comp and other branches of your company.
This makes it easier to understand the major goals of the company and what (or, most importantly, who) the company values most.
It’s this knowledge that helps Compensation Strategists be thoughtful about their approaches to talent acquisition, retention, and team building.
For example, if your company needs web developers to grow, then you as the resident Comp Strategist can develop differentiated talent strategies around that need!
That means you can focus your recruiting efforts on hiring these key players and assure they’re compensated competitively.
Oh, and you’ll want to make sure you’re armed with organized, fresh market data when you’re determining that competitive salary.
But being the Comp Strategist you are, you already knew that!
You’re a savvy communicator.
Now it’s time to build that bridge between comp and rest of your company — and watch organizational value soar as a result.
Want to hear a deeper discussion on becoming a strategic business ally, chockfull of Comp Strategist tips? Then listen to one of the latest episodes of our podcast, Comp + Coffee!
And if you want to take the training wheels off and really take your comp career to the next level, make sure to download our free ebook, Becoming a Comp Strategist.