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For instance, some companies have introduced AI into their compensation practices, according to Shankar Raman, senior director of work and rewards, at WTW.

John Bremen, chief innovation & acceleration officer at WTW said that while it may be most pronounced on Wall Street, it extends to other industries as well.

“In the first scenario, cost increases are directly related to higher base salary; in the second, cost increases will come from an increased number of employees entitled to overtime pay,” said Erika Johnson, director, work, rewards and career with WTW.

That said, the current scrutiny could serve as a catalyst for companies to re-examine their DEI-related incentives, said Michael Siu, senior director, executive compensation and board advisory for WTW.

As a result, when it comes to setting compensation for new hires in comparison to their colleagues, it may be advantageous to mind the midpoint of salary ranges, said Lori Wisper, managing director at WTW.

“Members of the LGBTQ+ population often feel they can’t be their true selves at work,” said Mariann Madden, North America pay equity co-lead at WTW.

Promotion Parity Pitfalls When it comes to ensuring employees are promoted and paid equitably, it’s no longer good enough if it is only treated as a one-time action, said Lori Wisper, WTW’s managing director of work and rewards.

Due to the evolving priorities and demands of younger workers, long-held retention tactics are no longer a guarantee, said Monica Martin, the senior director of integrated and global solutions and a total rewards leader at WTW.

Rachael McCann Jones, an advisor for integrated and global solutions at WTW, said organizations can take this moment to: ;Reframe the narrative to focus on fairness, culture, employee and business sustainability.; ;Invest in employee connectedness and community that makes sense for the workforce and aligns with corporate brand.; ;Increase career opportunity for all , including refreshing career frameworks, profiles and other components that support transparency and fairness.; ;Improve equality, fairness and well-being in health and wealth outcomes through pay and inclusive and flexible benefit programs that meet the range of employee needs and merit.; ;Elevate human capital data analytics that align with business performance.; Colosimo said organizations can show they are still committed to equity and diversity through various actions.

This is particularly important for those in an occupation where illness could affect their welfare or that of others, said Alex Henry, North American group benefits leader at WTW.