What’s Recruiting & Compensation Got to Do With It?
Posted by Amy Wilson on August 7, 2008
What do Recruiting and Compensation have to do with one another? Sure, they’re both on the “talent wheel.” Sure, you have to offer money to the people you’re recruiting. But, there is something else they have in common – a theme that is emerging in this increasingly transparent marketplace. They both give people a reason to share information. Employers ask a lot of their people – share your work with others, list out your competencies, rate someone else’s success, post your education to this wiki. But, organizations struggle to make a case in the What’s in it for me? category. As a result, data is sparse and outdated; soon, people stop doing it altogether and the system breaks.
This isn’t going to work. As Mark wrote, person profiles are our currency and job profiles are our exchange rate. Without these things, we can’t do business. At least, we can’t stay in business. How can we leverage people’s interests to define our currency and exchange rate?
We should look at the two things that cause people to spend as much time as it takes to get an answer:
1) How much am I worth? Could I get a job that pays me more?
2) Can I get a job that’s better than the one I’m doing now?
Ann touches on 1) in her post on compensation transparency. People can log into Payscale or Salary.com today, enter in every detail about their qualifications and their job requirements and get an accurate reading on their market pay potential. Why not leverage all of this rich data within the company to build meaningful job profiles? Ann’s point is that we are scared to open up pay information, but the reality is that it’s out there anyway.
Likewise with 2). People can go to Jobfox, enter in a slew of details about themselves and be categorized into a particular job profile. Soon thereafter, they are matched up with perfect jobs. You can even say, I want to be paid a little more and do a little more. The result is a database of job profiles with detailed requirements, job duties, and priorities. A wealth of information, indeed.
I am amazed by how much these two human processes have in common. Together, imagine the power. A job profile system that doesn’t require years of consulting and cross-functional meetings? A job profile system that stays current and even matches the market?
I think I’m in love …