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Promotion Parity Pitfalls When it comes to ensuring employees are promoted and paid equitably, it’s no longer good enough if it is only treated as a one-time action, said Lori Wisper, WTW’s managing director of work and rewards.

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But supply has not changed, which is why the labor market still has vulnerabilities,” said Lori Wisper, WTW’s global solutions leader for work and rewards.

As a result, when it comes to setting compensation for new hires in comparison to their colleagues, it may be advantageous to mind the midpoint of salary ranges, said Lori Wisper, managing director at WTW.

“The cost of labor is the supply and demand in a given market — usually it’s geographic but at the senior level generally more industry-specific,” said Lori Wisper, who along with fellow WTW managing director John Bremen, is writing inflation-related compensation articles .

There are a lot of different dynamics happening in the economy that are effecting the labor market,” said Lori Wisper, managing director, work and rewards, at WTW.

And whenever “pain points” develop around areas such as pay, benefits, or work environment, there’s always the risk of union activity, said Lori Wisper, managing director at WTW.

Besides generally keeping pay increases above the 3% range (to remain competitive and in line with recent years’ outlays), they have taken steps to more strongly support workers by: ;Improving the employee experience (47%); ;Enhancing health and wellness benefits (43%); ;Increasing training opportunities (40%); “As employers navigate continued economic uncertainty, ongoing increases in labor costs and the changing needs and expectations of employees, they are positioning themselves for what is to come and making investments in their workforces that go beyond pay raises,” said Lori Wisper, WTW’s managing director for work and rewards.