Gender Pay Gap, Building Business Acumen, and Networking - 94

Compensation, Building Business Acumen, and Networking Round 2 with Guest - Jennifer McClure - Speaker, Executive Coach, President of Unbridled Talent & CEO of DisruptHR Jennifer McClure, CEO Unbridled Talent & DisruptHR joins us for her second appearance on the Catalyst Sale Podcast.  We cover a number of topics this week, including the gender pay gap, building business acumen, and networking both inside and outside of your organization. The gender pay gap discussion was prompted by a twitter chat initiated by a friend of the podcast - Cara North. Thanks for listening to the Catalyst Sale Podcast Questions Addressed How real is the gender pay gap issue? What can we do to fix the issues at an individual level? How can we prepare for the salary/compensation negotiation? How can we build our business acumen, financial acumen, understanding of general business strategy? How can people improve their approach to networking? Key Takeaways The issue is real, it is clearly an issue. Women are typically paid less than men for doing the same job. The smart HR Leader/Business Leader will look at the current pay structure for their team. This may exist today because the leadership is not looking at the data. They may not be looking at the data because they believe this is not an issue they are having at their organization. From an employee standpoint... You have a choice, your goal is to get paid what you are worth. Consider all of the parameters - Salary, Opportunity, etc. Make your choice, own your choice. From a manager's standpoint... If you notice issues in pay equity, you should take measures to fix the issue. Look at the data objectively Create a communication plan This is not part of a merit increase budget It is on you to make the business case.  Use the data, work with your HR leadership to help make the business case. Separate this type of adjustment from performance. Make the change once you recognize the error. What would it cost us to replace the person? If they came in today and said they were resigning or leaving for another opportunity, would we counter with a similar "market rate"? Preparing for the negotiation Do the research. Know your worth. Power comes from information. Know the top things that are important to you, before you get seduced by the role or the conversation. Have the data. Own your choice, create your own opportunities. Understanding what the biggest problems are, that the business has to solve. We tend to look at ourselves first, rather than the organization. Talk to the functional leaders within the business. What are your challenges? What obstacles are you facing? There are a number of things you will hear, if you are having the discussions. If you want to work at a strategic level, you have to be solving business problems. Ask questions & listen There are no stupid questions when you are truly seeking ways to help others be successful.  (Be Intentional) Any system that takes the human connection out of the process in networking, and allows you to network at scale, is not relationship building. Networking is not Marketing. Add value first, but don't do so "automatically, every two weeks" Relationships & Networking should be intentional. You can share value, people can connect, when they are ready to engage, they will do so. Outbound/Outreach - be intentional, be personal. Whether it is Pay Equity issues, knowing your worth as a candidate, networking with others - be intentional. Do the research on your end to understand how you can add value. The action starts with you. Show Links Unbridled Talent jennifermcclure.net Impact Makers Podcast Twitter Call to Action How do you build business acumen?  Let us know via twitter @catalystsale or email us directly. Please share your stories with us @catalystsale on twitter or via [email protected]  ---------------------- Thank you Ratings & reviews help others discover the podcast - thank you for helping us get the message out to the community. Please send listener questions and feedback to [email protected] or contact us directly on twitter, facebook or LinkedIn. Catalyst Sale Service Offerings Growth Acceleration - Plateau Breakthrough Product Market Fit Catalyst Sale - Sales Fundamentals Training Program ---------------------- Subscribe to the Catalyst Sale Podcast Subscribe via iTunes Subscribe via Google Play Catalyst Sale In every business, in every opportunity, there is someone who can help you navigate the internal challenges and close the deal.  There is a Catalyst.  We integrate process (Catalyst Sale Process), technology and people, with the purpose of accelerating revenue. Our thoughtful approach minimizes false starts that are common in emerging markets and high-growth environments. We continue to evolve our practice based on customer needs and emerging technology. We care about a thinking process that enables results versus a process that tells people what to do.   Sales is a Thinking Process.