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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!

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.; A considerable portion of employers have not established a pay equity strategy — and even more doubt their organization complies with global pay equity standards, according to the 2024 State of Pay Equity Report from beqom, a total compensation software company.

According to Michael Piker, the vice president of global total rewards at cosmetics company Shiseido, annual benefits selection introduces a “maze of complexity for employees trying to make an informed decision,” but total rewards (TR) professionals are discovering that AI tools — when integrated strategically and thoughtfully — can provide valuable assistance to both the worker and the employer.

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“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.

For WorldatWork Members Using Analytics to Fully Assess and Close the Pay Gap , Journal of Total Rewards article;Pay Inequity: Past, Present and Future , Journal of Total Rewards article;Getting Serious About Gender Gaps — Assessing Pay Equity in New Zealand , Workspan Magazine article;Examining the Progress on Pay Equity , Workspan Magazine article; The recent U.S.

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: ;Equitable and Diverse Workplaces; ;Employee Benefits; ;Well-Being; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.