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Access a related Workspan Daily article on this subject: Organizations Are on the Skills Bandwagon; How TR Can Drive It; Access bonus Workspan Daily Plus+ content on this subject: A Step-by-Step Guide to One Skills-Based Org Lever TR Can Pull; As more employers focus on skills-based hiring and pay models, total rewards professionals can support those efforts by helping employees curate their career portfolios through skills alignment and diverse growth experiences.

Step 2: Deconstruct the benchmarking trap.

“Don't fall into the trap of thinking ‘I don't have any employees in Europe, so I can ignore it,’ ” she said.

Avoid the trap of thinking that sending out an annual EVP summary every year is enough, Mortensen said — EVP communication should be ongoing.

Do we as HR and compensation professionals fall into the trap of too much planning and not enough action?

The board said such stipulations can include training repayment agreement provisions (sometimes referred to as TRAPs), educational repayment contracts, quit fees, damages clauses, sign-on bonuses or other types of cash payments tied to a mandatory stay period, and other contracts under which employees must pay their employer in the event they voluntarily or involuntarily separate from employment.

Utilizing the SOC model allows the “C” compensation portion of the model to act as the focus area of a formidable leadership development program.

Employers often fall into the trap set by the pay gap statistics and do similar analyses on their own workforce.