Searching Compensation on page 52

The Journal of Total Rewards Fourth Quarter 2024 | Volume 33 | No. 4 An international lineup of authors shares their research and perspectives on performance management, shared-based compensation, pay transparency and the future of the TR discipline.

President, Donald Trump vowed to eliminate taxes on overtime compensation .Three months after being elected to the office, he reiterated that pledge in a March 4 joint address to Congress, stating this and other tax breaks are “a very big part of our plan” to financially assist American workers.

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Common actions have included: ;Conducting a compensation review of all employees (50%);; ;Performing a compensation review of specific employee groups (48%);; ;Hiring people higher in relevant salary ranges (45%);; ;Enhancing their use of retention bonuses or spot awards (43%);; ;Raising starting salary ranges (40%); and,; ;Targeting base salary increases for specific employee groups (37%).; A Glimpse at Compensation Practices Outside of the U.S.

Save Reuse Permission At the heart of successful organizations lies a compensation strategy that attracts, retains and motivates employees.

Part of the American Rescue Plan initiated by the federal government through the Federal Pandemic Unemployment Compensation Act (FPUC) allowed gig workers to collect unemployment compensation, first in the amount of an additional $600 per week beyond what a state would provide.

When employers fail to take into account the impact of higher starting salaries on compensation levels of existing employees in comparable or more experienced roles, they inadvertently create a pay compression problem.

Access a bonus Workspan Daily Plus+ article on this subject: ;Pet-Friendly Perks May Bring Pawsitive Results for RTO Efforts; “Compensation and flexible work options continue to be top priorities for both employees and job seekers,” said Michelle Reisdorf, a district president at Robert Half.

Employee Compensation Equitable & Diverse Workplaces Survey Results This survey reveals the types of organizations where pay equity practices are most prevalent, how long organizations have devoted themselves to pay equity, how equitable pay practices are perceived to be by organizations, the type of actions organizations plan to take in the coming year, and more.

Maintaining data integrity and accurate performance tracking becomes challenging, potentially affecting employee morale and trust in the compensation process.