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If you follow general cost-of-labor recommendations hovering around, for example, 2% and translate those across the board in your organization, you may find yourself significantly behind the market after several years if pay standards for a certain industry are increasing by 5% a year.

.; Course 2: Performing a Pay Equity Analysis Learn to perform a pay equity analysis that can expose unintended pay gaps.

For example, during periods of heightened risk, you may widen only the threshold-to-target range to offer additional security without inflating maximum payouts. 2.

.; Guideline 2: Cross-Training HR teams often fail when a single specialist (e.g., the sole payroll administrator or employee relations manager) becomes a single point of failure.

As such, allow them to showcase what makes them unique, but also present ways to continuously learn additional tricks and routines as a springboard to new opportunities. 2) Position those individuals into an effective, mission-driven team.

The big rise in the minimum wage comes as the Bank of England warns that the current pace of wage growth in the broader economy, which reached around 8% earlier this year, would make it hard to return inflation to its 2% target, Reuters noted.

[Conversely, 53% were at Level 1 and 27% were at Level 2.]

Another Mercer study — Inside Employees’ Minds (IEM) — revealed just 1 in 2 U.S. women (53%) felt their career goals could be met by their current employer, lower than prior years.

According to Cascade’s report, less than 2% of questions posed to Cascade’s AI tools were about those solutions, which provides another opportunity for employers to use AI to increase engagement, Constantin said.

Notably, 66% of employers said the growing use of GLP-1 medications are impacting their approach to well-being programs such as fitness challenges and weight management, although only 2% plan to reduce or eliminate programs as a result.; ;Financial health , with educational opportunities and tools to support financial decisions offered by 92% of employers.; ;Lifestyle savings accounts and well-being incentives , averaging $600 per employee across surveyed organizations.