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“However, this really begins with having formal pay structures and a compensation strategy, validated by human compensation professionals, that ensures that pay is both competitive and fair for employees.”

; ;The Impact of the H.R. 1 Law on the Telehealth Safe Harbor; ;How H.R. 1 Changes Your Section 127 and 529 Education Programs;Charting the Changes: 2026 Benefit Plan Limitations; Additional Workspan Daily Plus+ articles related to H.R 1: ;Checklist for Total Rewards to Be Compliant with H.R. 1 Provisions; ;The Ripple Effect: 529 Plans as a Catalyst for Financial Stability;What Are TR Pros’ Options for Paid Care Leave Design; Compensation and Payroll System Updates In the area of payroll and compensation, experts shared these system updates may be required: ;W-2s need to include reporting fields that separate qualified overtime compensation from base pay.

Compensation professionals can help the organization in both the short- and long-term when it comes to proactive pay practices because they are compensation experts with a pulse on the labor market.

The annual survey revealed various compensation insights from organizations across the globe, including that approximately half of organizations in the U.S., Canada, India and the United Kingdom reported negative economic impacts due to the fallout from the global pandemic.

“The rapid rise in salary increase budgets over the past couple of years, combined with today’s volatile economic environment, challenge HR pros to leverage data and think strategically as they formulate 2024 compensation budget recommendations and negotiate with CFOs,” said Sue Holloway, CCP, CECP, content director at WorldatWork.

Workspan Daily article;Cracking the Compensation Code: Connecting Pay Strategy, Transparency and Benchmarking , on-demand webinar; Payroll management can be complex for total rewards professionals in any organization.

As organizations navigate rounds of layoffs, economic uncertainty and ever-evolving employee expectations, compensation strategy is under pressure to evolve rapidly.

Your compensation committee’s discussions about ESG must integrate the desire to make progress with the extremely specific conversation about goals and metrics.