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LSAs provide a set allowance for each employee to spend on employer-selected items that support their physical, emotional and financial well-being .

“They help set more objective expectations and align goals with the real capabilities needed to deliver results,” Stella said.

It is also ideal for HR generalists or compensation specialists with limited benefits compliance knowledge who wish to expand their skill set.

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During MacDougall’s tenure, the company set ambitious goals to reduce injuries, including a plan to cut recordable incident rates, an OSHA measurement covering injury and illness, by half by 2025 .

The survey compiled data from April to June 2023 and received approximately 33,000 sets of responses from employers across 150 countries worldwide.

“The good news is that we’re still in the early stages of pay transparency, so starting to build a plan now will set you up for success moving forward.”

The discretionary component of your pay transparency strategy sets your organization apart. 5.

To do this, they will need employees from different cultures, backgrounds and experiences with different skill sets.