Searching Workplace Equity on page 45

An additional consideration for employers is the how remote work and hybrid work might affect diversity, equity, inclusion and access efforts.

The report did reveal that there will be some exceptions, as investment bankers working in equity underwriting are projected to receive payouts that are 5% to 15% higher than last year, while wealth managers could receive awards that are 5% higher.

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For WorldatWork Members 2024-2025 Salary Budget Survey , research;Engage Community , peer engagement and connection platform;How to Reconcile Internal Pay Equity and External Competitiveness , Workspan Magazine article;Why It’s Time for a Compensation Philosophy Refresh , Workspan Magazine article;A Management Primer on the Basis for Pay Equity , Journal of Total Rewards article; For Everyone Develop a Salary Budget Recommendation You Can Sell to the C-Suite , Workspan Daily article;How Pay Transparency Connects with Job Architecture and Employee Trust , Workspan Daily article;How to Identify and Address Common Pay Gap Analysis Mistakes , Workspan Daily article;Essentials of Compensation Management , course; NEW!

Save Reuse Permission In the past 20-plus months, we’ve been collectively experiencing tectonic shifts in the workplace.

Finally, the widespread availability of pay information, combined with institutional demands that organizations conduct periodic pay equity audits, also places greater pressure on firms to communicate pay structures, ranges, practices, and opportunities as a means to improve pay equity.

It’s important for practitioners to verify any salary range suggested by AI, to ensure that the range is something the employer can afford and does not cause internal equity issues.

ChatGPT could be used initially to assist in daily compensation-related work including generating reports, aggregating market data, evaluating the drivers of pay equity analysis and more.

We’ve also spoken to companies that would only issue such a grant to equity recipients already receiving performance-based equity.

When making these key decisions, it is best to take a holistic approach that balances market factors, a company’s strategic initiatives and existing internal pay equity and structure.