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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; ;Organizational Performance; ;Total Rewards; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

.; 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: ;Career Growth; ;Employee Compensation; ;Employee Experience; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

President Joe Biden’s State of the Union address on March 1 touched on several topics, ranging from Russia’s invasion of Ukraine to COVID-19.

Given that sales compensation spend is $1 trillion or more globally, this was an expense the C-suite needed to understand.

Keeping that in mind, here are three actionable steps to help fine tune your compensation strategy. 1.

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; ;Total Rewards; ;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.

For example, consider the impact of a $1 increase from $15 per hour to $16 per hour for an hourly worker.

Women in the U.S. are still paid just 82 cents for every $1 a man is paid.

In many instances, $0.50 or $1 per hour makes a significant difference for frontline workers, and failure to recognize this can result in companies putting themselves at a competitive disadvantage to other local establishments.