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)—is a hot topic for many organizations. While much of this attention has been driven by legislation around pay transparency, there is also a …
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 …
As organizations shift increasingly toward skills-based talent management, they must consider the impact on various talent practices traditionally built on jobs/roles, such as pay and rewards structure. As noted in this article, “in a traditional reward framework (see Figure 1), a worker’s job title drives their base pay while company and individual performance primarily drive …
As remote and hybrid work continues to take hold in many organizations, employers are re-evaluating various talent policies and practices. One area in which remote and hybrid work has implications is total rewards. This article addresses how the benefits of hybrid work and location flexibility create challenges for total rewards leaders in four areas: 1) the …
Employers continue to adjust work practices and policies to enable remote and hybrid work. And while much of the attention has focused on workers’ preferences for remote work and organizational policies on the topic (e.g., expectations of the number of days in a physical work location), greater attention is now being paid to other implications …
This newly published 16-page paper provides insights into how the role of the Compensation Committee continues to expand beyond its traditional charter. The ideas and learnings are based on interviews with 24 Compensation Chairs, CHROs, and Compensation Consultants across multiple sectors. The paper begins by outlining various factors driving the evolution of the Compensation Committee’s charter, such …
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 …
Around this time last year, I conducted a poll of this newsletter’s readers on the topic of location-based pay. Given the rise of remote work during that time, I asked readers: If an employee relocates to a geographic location with a lower cost of living, should their salary be reduced accordingly? Based on 117 responses, 42% said that it would depend …
This article outlines how the demand for workers has led some organizations to forgo annual pay raises and adopt more frequent pay reviews. One example is CoorsTek Inc., a maker of industrial ceramics, who started doing quarterly pay reviews last year, primarily to ensure it could hire and retain workers for critical and hard-to-fill manufacturing roles. While …
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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