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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.

This simple statement is about how to hire and keep employees, but to make it real, it’s about setting competitive pay levels for jobs and then applying those job-driven pay levels to specific employees. • Organizations must define their competitive labor markets in order to turn a competitive pay philosophy into reality.

This involves setting up systems based on clarified principles and strategies around: What “pay equity” actually means and setting up rewards processes that guide and sustain equitable pay decisions.

According to the Los Angeles Times , Activision Blizzard has agreed to set up an $18-million fund for employees who experienced sexual harassment or discrimination, pregnancy discrimination or retaliation as part of a settlement with a federal employment agency.

In fact, more than 70% of acquiring companies set aside budgets for retention pools, according to WTW’s 2024 M&A Retention Study .

This bundle sets you up for success — building your expertise, confidence and value as a compensation leader.

Employers can set neurodiverse candidates up for success with a couple different strategies, such as sharing interview questions well in advance, allowing candidates to re-record video answers, offering other non-verbal ways to respond to questions and thoroughly explaining questions via examples.

And if that’s the case, they’re the ones that are typically not trained, not prepared and not aware of the company’s pay structures and how things are set up.

Dave Ulrich, a professor of business at the University of Michigan’s Ross School of Business, sees work as becoming less about a place or even a job, and more about a set of tasks to be done.

Providing upfront education about filling out tax forms, when to update withholdings, and how to effectively use retirement vehicles like 401(k)’s and HSAs can set employees up for a better experience during tax filing season.