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Public-sector employees may not be familiar with terms like performance-based pay, variable pay, incentive compensation, equity compensation or wellness incentives.

Next Steps To continue narrowing the racial pay gap, employers must define fair pay commitments and priorities, so they are aligned with the organization’s overall compensation strategy, said Mariann Madden, North America pay equity co-lead at WTW.

Address Uncovered Pay Inequities — And Prevent Future Gaps A comprehensive pay equity strategy is multifaceted, Pinto said — it includes conducting annual pay equity analyses, communicating the compensation policy with employees, offering regular performance feedback, and providing transparency around potential career paths and promotion qualifications.

.; ;Significantly increase the total annual compensation level for exemption as a “highly compensated employee” (HCE) under the FLSA.; In the months leading up to the election, the final rule was challenged in several lawsuits spanning multiple U.S. district courts, and on Nov. 15, 2024, the U.S.

Compensation is just one of many elements that make up a company’s total rewards package.

Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Executive Compensation ; Be the First to Know Get the latest news on trends and compliance regarding Total Rewards, compensation and benefits delivered straight to your inbox from WorldatWork's experienced publications team.

Brad Robinson, the compensation director for MasTec’s Power Delivery Group, and Rebecca McConnell, the compensation director for Konica Minolta Business Solutions, completed the panel.

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In an environment of tighter corporate budgets and continued high workforce compensation expectations, might non-financial rewards be a solution to mitigate turnover risk?

"Coupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover ... but have also increased hourly total cash compensation by nearly 50% since fiscal year 2020," the company said in a statement.