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Given the current trend, DiFonzo said merit budgets are likely to settle to about 3%, but larger organizations and more profitable industries with higher demand for their products and services will continue to average higher than 3%.

In California, since Jan. 1, 2023, employers have been required to post salary ranges in job postings and disclose them at employees’ request.

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Numerical ratings such as 1 to 5, where 5 is the highest level of agreement, could also be used to better pinpoint opportunities for improvement.

;Does it mean that long-tenure employees who may have established themselves as experts and advisors within your industry may “hit a wall” in terms of career progression and further opportunities to increase their pay and other rewards?

Because these changes aligned with how employees prioritized them, the perceived value of total rewards increased above industry norms while saving money for the company.

Henry and Fuerstenberg shared factors that may contribute to a successful unlimited PTO program: Consider your workforce, job architecture and industry.

In each issue of Workspan , we grab some time with total rewards leaders, industry authorities, consultants and academics to get their insights on current workforce topics that are top-of-mind for them — and you.

That is particularly true in certain industries: Only 50% of hourly retail employees and 58% of hourly healthcare workers believe their career goals can be met.

At its core, it employs techniques from [natural language processing] and machine learning to analyze the language used in existing job postings, and has the ability to generate new ones that are optimized for specific roles and industries.”