Why should companies rethink compensation strategies?

 In this episode of the Amazing Teams podcast, hosts Doug and Una sit down with Lola Han, founder and CEO of Kamsa, a company dedicated to helping businesses create data-driven compensation strategies. 

 Lola, a seasoned expert with experience at companies like Zendesk, shares her insights into how organizations can structure fair, equitable compensation that cultivates employee growth and satisfaction. The conversation dives into the nuances of compensation philosophy, pay transparency, and how to keep employees motivated and appreciated in the long term.

Key Takeaways:

●      The importance of pay transparency: A phased approach to sharing compensation philosophies helps avoid confusion, ensuring employees understand how pay is determined and when increases or promotions can be expected.

●      Compensation as a foundation for employee satisfaction: Fair pay is the groundwork for appreciation, but recognition through small, regular gestures is key to keeping employees engaged and valued.

●      Creative perks don’t substitute fair compensation: Unique perks may be fun, but without fair compensation, they fall flat. Lola discusses the role of meaningful perks within an overall compensation strategy.

Key Timestamps:

00:00:00 - Intro

00:01:33 - How empathy drives amazing teams

00:02:24 - The story behind Kamsa’s founding

00:05:07 - Breaking down compensation philosophies

00:07:37 - Common compensation misconceptions

00:08:46 - Creative perks and employee motivation

00:11:10 - Cringe or binge

00:14:49 - The problem with inflated titles

00:18:04 - How personal titles can impact career growth

00:19:34 - What makes a pay raise meaningful?

00:27:03 - Why compensation is foundational for appreciation

00:34:10 - Gratitudes!

Key Topics Discussed:

Compensation strategy, pay transparency, employee recognition, equity compensation, career growth, employee retention, Kamsa, startup compensation, perks vs pay.

Mentions:

Kamsa: https://www.kamsa.co

Build Stronger, Connected, More Engaged Teams:

Use Coupon Code: AMAZINGTEAMS for 15% off for the first 3 months.

About the Amazing Teams Podcast:

We started this podcast because we love teams, especially amazing ones. Michael Jordan said it best, "Talent wins games, but teamwork and intelligence win championships." This is what we're all about!

Our mission is to help others build amazing teams by having authentic conversations with remarkable people who are building amazing teams. We will explore the tactics, strategies, and frameworks that have helped them succeed.

The Amazing Teams Podcast is produced by HeyTaco and edited by Lifetime Value Media.

Learn more about LTV at: https://www.lifetimevaluemedia.com