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While most immediately translatable to traditional skilled trades (electricians, welders, mechanics, pipefitters, maintenance and repair technicians, etc.), the change also would serve to address opportunities in fields related to emerging technologies such as artificial intelligence (AI).

The newest projections also partially diverge from other analyses , some of which continue to predict shortages of physicians and registered nurses in the coming years.

Conduct an Annual Pay Equity Analysis While keeping a finger on the pulse of national wage trends can be informative, experts agree that conducting internal pay equity analyses is much more relevant for employers.

In addition, conduct thorough job analyses to accurately understand job responsibilities and essential functions, advised Megan Nail, vice president of total rewards at NFP.

Dan Couzens Director, Global Benefits Red Hat Dan leads a geographically dispersed team of benefits professionals managing program strategy, design, implementation, development, and maintenance across 48+ jurisdictions.

Most organizations conduct market analyses and operate within documented processes and performance frameworks.; ;However, the structural and communication layers that make those efforts legible and explainable to employees are deeply underdeveloped.; In assessing organizational practices, the surveyed HR pros’ responses showed: ;51% of organizations have a formal job architecture .; ;22% don’t use job leveling to inform pay structures.; ;34% are transparent with employees about how pay is determined .; “The organizations that struggle most with employee trust in pay are often not the ones with bad intentions.

., materials procurement, office maintenance) but don’t directly further strategy.; ;Sustain spending on your core capabilities that support key operating outcomes and enable priority work to run smoothly (e.g., customer experience, marketing, sales) .; ;Invest in or increase spending on your differentiating or strategic capabilities that provide a competitive advantage and enable the organization to stand out (e.g., product prototyping, innovation management) .; Keep an eye on the investments intended to save you money, Samuel added.

Will Company X’s managerssee throughthe survey scores, understanding that the overall strategic objective is maintenance of market share, and ensure all their decisions are consistent with this objective?

;Pay equity analyses remain critical.

Employers can also begin to focus on ensuring they have robust data for use in pay equity analyses.