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Instead, companies and the compensation plans must now place focus on product experience and allow interactions with the product itself to drive customers further down the sales funnel.

“What’s interesting now is that Vermont had a similar scenario, yet its Republican governor, Phil Scott, signed the bill into law,” Seikaly said.

;The percentage of women in the workforce continued to increase (now generally mirroring the percentage of women in the population), but there is not a comparable proportion of women in high-paying jobs.; Access bonus Workspan Daily Plus+ content on this subject: How Your Organization Can Mitigate Its Gender Pay Gap;How to Identify Root Causes of Gender Pay Inequity ; Factors and Trend Lines One contributor to the 2023 change, according to Axios , may be that a significant number of Hispanic women, younger women and women new to the workforce recently entered the labor market; all of those populations tend to earn lower salaries.

The company is now widening the scope to include all research and development teams and several other roles, according to chief human resources office Xavier Chereau.

“Now, total rewards professionals must be continuously vigilant about upcoming increases as the work is never really ‘done.’”

Also unchanged for now are the federal salary thresholds for overtime compensation.

Where pay package elements once spread across a range determined by multiple factors, the data now show that the range is closing.

“Many companies delayed investments in 2023 and 2024 due to economic uncertainty, and now they’re shifting back to growth mode as conditions improve,” she said.

“There can be sectors with notable variations like the federal government, which now holds considerable employer power due to the restructuring, significant job cuts and layoffs across federal agencies.

Forty-nine percent of surveyed organizations now report targeting base pay above the market median (compared to only 36% in 2018), with mature entities almost three times more likely to do so.