If you find value in content like this, sign up for my Talent Edge Weekly newsletter. Fair pay continues to rise in importance as a topic of interest for both employees and HR leaders. According to Mercer’s 2024 Global Talent Trends Report (see p. 28), employees ranked fair pay as the second most important of 20 …
Pay equity—equal pay for team members performing “similar” job duties while factoring in variables such as experience, job performance, and tenure— remains a critical concern for many organizations. To enhance pay equity, several states and localities have implemented legislation stressing pay transparency in job advertisements, where employers disclose the wage scale or salary range. While …
This article summarizes regulatory updates that have implications for how organizations approach various aspects of pay equity. While you can read the details of these regulations (e.g., the European Parliament approved a groundbreaking law, the Pay Transparency Directive, Australia made broad changes to the Fair Work Act, etc.) in the article, one point made is …
Pay equity—compensating employees the same when they perform the same or similar job duties while accounting for other factors, such as their experience level, job performance, and tenure with the employer (SHRM)–continues to be a topic of interest for many organizations. And while one lever for driving pay equity is pay transparency—the degree to which an …
Pay transparency continues to be a hot workplace topic as various laws are enacted to increase the visibility of organizations’ pay practices. While there are varying levels of pay transparency—ranging from openly sharing information about an organization’s pay scales and compensation policies to allowing employees to see the pay of their co-workers—one goal of pay transparency …
Compensation and the financial components of the employee value proposition are becoming more important. The October 2022 LinkedIn Talent Trends report indicates that job candidates now consider compensation and benefits their top priority when evaluating job opportunities. Mercer’s 2022 Inside Employees’ Minds Study found that workers’ financial concerns increased significantly — with covering monthly expenses now in the top spot from #9 last year, …
Pay equity has been a topic of discussion in many organizations over the past few years. To move organizations towards greater pay equity practices, many states and localities have implemented legislation focused on mandating compensation transparency in job advertisements. For example, effective 1 November 2022, employers in New York City (with at least four employees) must …
Pay transparency—the degree to which an organization openly and proactively shares information about salaries—continues to be a workplace topic of interest. I have shared several resources on this topic, such as this PayScale paper showing how pay transparency can be viewed on a spectrum spanning five stages—ranging from “Here’s what you get paid” to “Here’s everything you want to know about …
Pay transparency—the degree to which an organization openly and proactively shares information about salaries—continues to be a topic of interest within many organizations. And as I mentioned in a previous post about a Payscale paper, How Fair Pay Perception and Pay Transparency Combat Turnover, one factor drawing attention to pay transparency is recently passed laws in …
Although workers increasingly value aspects of the non-financial components of a firms’ employee value proposition, organizations realize that compensation is still important to attracting, engaging, and retaining talent. This 61-page report provides data and insights on compensation management practices ranging from base pay increases, variable pay and benefits, remote work and geographic pay, and pay …
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