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And as employers set their 2023 preliminary budgets , Mason told Workspan Daily labor shortages, cost of labor and business performance were the top three factors organizations said were impacting their 2023 merit budgets.

Adoption of AI predictive models in pay decisions that factor in employee life stages, job preferences and real-time market trends, is set to accelerate over the next two to three years.

For example, setting fixed working hours or providing them with tools, equipment or resources beyond what’s outlined in the contract may trigger reclassification, especially in countries with strict worker protection laws.

Market Data Specialist Compensation professionals “own” setting competitive compensation levels.

Access a related Workspan Daily article on this subject: ;Shhhh: Here’s the Pros and Cons of ‘Quiet Promotions’; When management attempts a quick fix by informally adding tasks or responsibilities without a corresponding change in salary and title (often referred to as a “quiet promotion”), employee dissatisfaction and burnout can set in.

The Body of Knowledge represents the complete set of concepts, terms and activities that make up the profession.

;Have we included people with different language sets? 

Why Earn a GRP Recognition as an Expert With 70 years of unparalleled Total Rewards education, your GRP designation from WorldatWork sets you apart as an expert in your field.

Many have added new members, and they have spent more time scrutinizing and carefully assessing more comprehensive sets of relevant pay and performance data.

Workspan Daily Plus+ article; For Everyone Fifth Circuit Reaffirms DOL’s Right to Set OT Salary Threshold , Workspan Daily article;Trump’s DOL Did What?