09 April, 2024

Payflip's first round table event: a salary policy that makes sense ✨

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On a (how could it be otherwise) rainy morning, we invited a select group of partners to Studio Morris in Aalst. Twenty of our enthusiastic HR partners first joined us for a delicious breakfast. Right from the start, we could clearly sense that the atmosphere and energy were right. Proven recipe for success: put 20 people who are passionate about their job together and it creates fireworks. ❤️‍🔥

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Our very own Maura kicked off with a session on a salary policy that makes sense 🚀

Stomachs filled and ready for an inspiration session by our very own CEO Maura Nachtergaele on what a logical salary policy could and should look like, no-nonsense, and with lots of concrete examples of how the internal kitchen works at Payflip. As you know, we at Payflip do not walk on eggshells when it comes to salaries. 💸

Some of the take-aways:

  • The trend of employee experience is gaining massive traction within HR. Just as companies have invested for years in optimizing the customer experience to increase loyalty and satisfaction (customer experience), it is now time to give the same attention and care to employees.
  • The ideal solution: a combined progression & salary framework. Triple win: a clear guide for managers to base their expectations on, objective standards to measure whether someone is ready for promotion & clarity, motivation & consistency among the team.
  • Don't be too humble: divide that package of extralegal benefits into inspiring categories instead of just a "dry" list (for example: wellbeing, mobility, L&D and flexible work benefits). This already makes your offer a lot more interesting and also reflects your company's values and standards.
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Time to get to work 🔥

From all the notes being taken we could already feel everyone was in on the story. Break-out time! 🔥 In smaller groups, we put all those creative HR brains together to brainstorm on different topics and learn from each other. 

Three issues later, we came up with the following findings.👇🏼

  • Negotiation, inherent when talking salaries - pro or con? As a general conclusion we heard that there should be room for input from the candidate but once the proposal is on the table it is a take it or leave it , and thus negotiation is not (always) necessary, and certainly no longer considered a "test", which was often the case for more commercial profiles.
  • Full transparency, pro or con? Many of you were certainly pro transparency, but being fully transparent is not so easy in practice: it takes time to turn the tide, and for a previous generation it might not the easiest switch to make.
  • What would a flex plan look like in your ideal world (if you don't have to consider tax rules)? In all break-out groups, the general feeling was: listen to your employees, and put together a package that best suits their needs. That being said, we heard many creative budgets emerge: a culture budget, beauty budget (nails done, anyone? 💅🏼) and even a sleep budget (we are already ordering our new mattress 😴) - so nice to think out of the box together.

Perfect end to the morning! We were able to send our guests back home (or to the office) with lots of new salary insights, and we as Payflippers were left feeling very inspired. Who knows, a new budget in Payflip soon? 😉

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Becoming a Payflip Partner? 👀

Would you like to join us next time for spicy HR content? We already have big plans for the future and we'd love to work them out with our partners. Do you believe that as a Payflip partner you can add extra value in flex reward land? Then we would love to hear from you! Be sure to send an email to partners@payflip.be and before we know it we'll be brainstorming together about the next steps! 💪🏼