Searching Pondering Equity-Based Long-Term Incentive Plans on page 7

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.

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“The companies that get it right will be the ones that align their workplace policies with long-term engagement rather than short-term compliance,” Scott-Wears said.

Companies should see their employees as customers, aligning their benefits and employee experience strategy to attract and retain workers in the long term.

Beyond statutory requirements, organizations should also monitor these internal practices in the talent lifecycle: ;Hiring phase: Look at gender distribution at the hiring phase, especially in some historically male-predominant job functions.; ;Talent development phase: Provide all employees with the same access to training and development opportunities.; Using these guidelines will help ensure equity and support transparency in the workplace. 3 Tips for Long-term Strategy Success Having a long-term strategy is important for integrating pay equity considerations into TR planning.

If companies auto-enroll employees at a 3% contribution rate and plan to increase them yearly to 6%, that plan assumes employees stay with the company that long.

;Pay equity actions in the next year. 87% of organizations considering pay equity actions in the next year plan to conduct a pay equity analysis with 75% planning pay equity adjustments and remediation.

Organizations Are Offering Higher Base Pay for Sales Roles WorldatWork survey, in partnership with SalesGlobe, finds 50% of organizations have offered higher base pay to combat voluntary turnover.

While our subject applies to effective incentive compensation design in any form, our coverage will concentrate on broad-based or general incentive plans.

For companies updating 2024 incentive plan designs, trends include updating measures or restructuring plan designs using scorecards.