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Adding insult to injury, this decrease in productivity comes at the additional cost of overtime and temp agency fees.

Some organizations have geographic differential programs that are based on the cost of living where employees live, paying employees who move to relatively low-cost areas less than they made while living in the Silicon Valley.

There is also a relatively small group of professionals in the TR field who have a background in data science and analytics and who possess the skills and capabilities to develop complex algorithms from scratch to independently address significant rewards challenges.

“What these industries have in common,” Reiman noted in the report, “is a relatively higher level of job density — a large number of employees fall into a relatively small set of jobs that drive the work of the compensation function.”

And, given the relative newness of DEI initiatives, other organizations are still broaching the concept of how to truly make their organization more diverse, equitable and inclusive.

If the benchmarking organization values other outcomes or different relative values on these metrics, it should adopt a plan that reflects that, rather than copying the other organization’s program.

Conversely, a cooling labor market is generally marked by a shift toward a higher unemployment rate and a decrease in demand for labor relative to its supply.

Nursing is a relatively standardized job with a high number of postings on Monster (9% of all listings in our sample were for nurses).

“In our research, we see that relatively few workers have ever formally estimated what they need to save for retirement.

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