we are grateful for our learnings and achievements
Transparency does not make the gap look better...
This is the month, where we need to face the facts: European countries dedicate one day each year to acknowledge their local gender pay gap. In our latest blog post, we reflected on the Austrian efforts for more pay transparency and their impact on equal pay.
Yellow now goes beyond consulting...
Yellow Business Consulting is now Yellow BC. The business was born in 2019 and has grown; it has a full personality, a strong will and new goals. Reflecting on the transition from being a consultancy firm to being a partner for companies, a mentor for professionals and an explorer for innovative ideas and models – It's time for Yellow to go beyond consulting.
New Pay Collective is founded
After two years of sharing expertise, client work and a common purpose, Yellow BC and CO:X founded the New Pay Collective. We will work even closer together and extend our New Pay offering – publications, education, organisational support. Read more about our common purpose below (New Pay Collective).
transformation with courageous people
How do you disrupt the industry without courageous people on your side? How do you transform your business model without people who trust your story and jump on board to drive the change? Do you provide the right tools, the right environment, and values to make it work? Do you agree that the difference between your business and the market is how your employees excel and leave a real impression in their field? If you want your people to make this business shine, you will have to offer something beyond the benchmark.
#What is new pay?
New Pay is a process
New Pay is a process (!) to design new and culturally fitting compensation models for transforming organisations in dynamic business environments.
New Pay covers a wide range of approaches, and even make crossovers with classic comp & ben approaches possible: Self-set salaries, uniform salaries, transparent compensation talks, salary formulas, participatory grading, role-based salaries, automated salary bands and many more.
Why is comp and ben
#What is new with NEW PAY?
New design approach compared to classic compensation
New Pay represents a new design approach compared to traditional remuneration. Although New Pay touches upon similar principles as traditional compensation systems, it differs considerably. New Pay partly builds on existing approaches in classic compensation systems and develops them further. We do not copy-paste, we engage and ask questions. That's why we bring up contrasts between the organisational design and the compensation model. New Pay is characterized by the following aspects:
New Pay orbits around 7 principles: fairness, transparency, self-responsibility, participation, flexibility, we-thinking and permanent beta.
New Pay strengthens organisational values and culture and delivers specific reward solutions to support the aspirations of the organisation in the future.
New Pay shines a light on the various interdependencies within the organisation and questions reward elements, salary processes and patterns of decisions based on their impact towards people development, motivation, value creation, profitability, and sustainability.
New Pay equally respects the needs of the organisation and of employees and brings them together in those processes where recognition translates to forms of rewards and development.
talking about pay is not taboo
Talking about salaries is a taboo – well, not for us. We go even further and do not only talk about salaries but we actually show how it connects to performance, engagement, behavior and much more. And yes, we know compensation is a sensitive topic. Under the surface of each compensation system, we will find different subjective beliefs and assumptions related to money and recognition. Those have a direct impact on how we collaborate with one another and how we engage in our jobs and in different roles we take on. That’s why many find it challenging to start a dialog and to open up about compensation.
So, we break the taboo. We support you and stay by your side, when it is time to take down the mask and start a constructive dialogue. We will be showing you how, but we will also ask you to move along and try it out. Because in the end, this is your own journey and no one has a better understanding of the organisation than you. And because it needs to feel right for you, and for all of you.
Sometimes consultation is the first step: our consulting service is in the interface between employee experience, total rewards and organisational design. We follow an employee centric approach and align this with organisational goals to ensure economic and sustainable growth. From experience, we understand the connections and dependencies between a variety of business and people topics and are keen to take a holistic view on your business challenges.
Together, we define the common goal, ensure alignment across the stakeholder group, and design and tailor a feasible fit-for-purpose solution for your organisation.
When a project is already kicked off, but progress is missing: the coaching approach is a way to better navigate through HR and reward projects and to help the team grow their skills within new pay, lean HR operations and HR agility.
Building a team out of individuals requires to keep up the right spirit and to ensure everyone is set up for success. Team Coaching is the combination of skill training around organisational design and compensation practice, and coaching/mentoring to provide guidance and sparring along the way. HR & project teams become more visible, bring up strategic topics and take ownership of their initiatives and the processes.
A general introduction to New Pay or a specific challenge:
We offers 3-4 hour workshops (virually) to showcase new trends within Compensation, explore opportunities and test ideas with this learning format. All of our workshops are visualized using digital canvas. And participation is the key ingredient to convert the information into learning.
We created the New Pay Campus to give you the best experience by combining theoretical knowledge, skill training and experimental workshops to explore compensation tools and methods in a safe environment. Within group sessions, we learn from one another, and help each other to apply the learnings to our specific needs.
New Pay Collective
People & organisations and academic science under one common goal
In 2019 Yellow BC AB (Sweden) and CO:X GmbH (Germany) started a partnership to bring the concept of New Pay to businesses, individuals and to the society. We gained insights and experiences from different disciplines ranging from new ways of working, new forms of organisational structures, business agility, systemic coaching, and classical compensation & benefits expertise and in the end found a way to bring all those aspects together – it is called NEW PAY!
The New Pay Collective is not just a collaborative network among New Pay Pioneers. It is a new type of network, that brings together people, organisations & academic science under one shared purpose.
We believe in a human-centric way of doing business. We bring awareness to the connections between people, environment and value streams and aim to make a positive impact.
We believe in a new way of working. The creation of values and innovations that are sustainable and future-proof are based on cooporations, collaborations and co-creations.
We believe in fair compensation practices. We meet people on eyesight level and on equal footing and apply inclusivity in the design of reward practices and processes. We are companions to companies, organisations, and employees.
We believe in self-determination and self-responsibility. Every individual can take decisions in a responsible manner – for oneself and for the shared matter.
#NEW PAY Pioneers
A new type of organisation
The New Pay Collective shares a common goal: To design a new type of organisation, in which we take financial and organisational decisions as a collective. The principles of our collaboration is connected to the 7 dimensions of new pay.
Get to know our founding members and connect via LinkedIn to follow their ideas.
"Recognizing potential and enabling development" is the guiding principle of my work. As founder of CO:X, I accompany people in organisations to find new ways and, above all, their own ways to actively shape their future in a dynamic environment.
In mid-2017, I initiated the New Work Women network. The goal of this initiative is to bring women's thoughts and ideas about the future of work to the world. Because if we want to shape the challenges of the future in the interests of people, we need a wide variety of perspectives, skills and ideas."
"For me, it's about the practical implementation of ideas around salary issues. As an expert in classic compensation and organizational design but also as a coach and companion of new and progressive NEW PAY models, I choose the role that is needed to bring a real and tangible contribution. Thinking from the user, the HR and leadership team and focusing on the long-term added value, the question of implementation and feasibility is at the forefront. I draw from my experience as a Comp & Ben consultant in German and Scandinavian companies, as a leader in international HR teams, and as an HR Tech enthusiast. But above all, I constantly learn and experience further through the diversity of ideas and the courage for alternative ways that my clients share with me."
"As a journalist (Haufe, herCAREER), I specialize in the topics of human resources management, new work and career prospects for women. I also deal with the future of journalism and corporate publishing.
For many years, I was part of the team of Germany's largest HR fairs & conventions, Zukunft Personal Europe and Zukunft Personal Nord und Süd as a press officer and was editor-in-chief of the online portal HRM.de."
"I live and work by the maxim "Dare to experiment and explore new territory". And that's also how I approach my work as an organisational facilitator, sparring partner, author and speaker. After a traditional corporate career, I set out as an entrepreneur in 2011. I founded Equity Change Management and have since accompanied companies in the introduction of employee participation models. In 2014 and 2015, I initiated the film projects AUGENHÖHE and AUGENHÖHEwege with companions.
As co-founder of CO:X, I now also support companies in breaking new ground in collaboration."