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“Employee resource groups and other DEI efforts such as having a diverse set of candidates or interview panels to promote diversity and belonging tend to have a lower risk profile,” Siu said.

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.

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;Leverage the simple INDIRECT formula to bring in a set of regional pay ranges based on user choice.

Sales compensation designers apply a set of uniform principles to each unique job to arrive at the best incentive plan design.

Those benefits include setting competitive executive pay programs that are aligned with market standards — which, in turn, can help attract and retain top talent — while addressing other challenges, such as goal setting.

Assessing Skill Sets Employers should conduct talent assessments of employees’ skill sets relative to the jobs they have today — and the job changes anticipated for tomorrow, said Julia Lamm, a workforce transformation partner at consulting firm PwC.

Providing an overly generous policy can set a dangerous precedent of inflated payout expectations and can also lead to financial strain on the organization.

It’s relatively simple for us to apply the transparency law requirements in any jurisdiction as the laws evolve because we put them on top of a consistent set of national practices for managing pay.