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The annual merit increase program should keep sellers’ total compensation aligned with labor market levels and reward exceptional performance, sales collaboration and growth in professional competencies.

These economies of scale were also pointed out in WorldatWork’s Total Rewards Professional Career Study 2023 .

The Journal of Total Rewards 32(3).

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Merge the depth of close-to-home connections with the breadth of our vast global network of Total Rewards professionals and get ready to take on the world with confidence!

Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Employee Compensation ;Finance and Budgeting ;Equitable and Diverse Workplaces ;Employee Experience ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Finance and Budgeting ;Organizational Performance ;Employee Experience ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

While nearly all the surveyed leaders are investing in AI, only 1% call their companies “mature” on the deployment spectrum.; Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Benefits; ;Employee Experience; ;Finance and Budgeting; ;Organizational Performance; ;Workforce Engagement; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

“Leading employers need to be thoughtful, strategic and transparent about the overall total rewards offering for all of their various employee groups — potentially including elements beyond the hourly rate, to include things like benefit eligibility and other types of coverage,” he said Reviewing compensation structures to ensure that ranges are compliant is the bare minimum, Frost said, and employers need to think strategically and holistically to ensure that their total rewards programs support their workforce strategy and, by extension, their business strategy.