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See Issue Journal of Total Rewards Q2 2024 Studies of a variety of topic rewards topics, from AI and pay transparency to career advancement to analyzing a pay gap.

Here’s How to Leverage It for TR; Quantitative Data A quantitative (left brain) data approach focuses on information that can be measured numerically and statistically analyzed.

Moving forward likely starts with an ability to access and analyze vast amounts of data generated in most organizations ’ HR systems — f or instance, a human resource information system ( HRIS ) , applicant tracking system ( ATS ) , learning management system ( LMS ) , and/or p ayroll and ancillary information technology ( IT ) and communications systems.

The HR software company analyzed payroll data from more than 400,000 U.S. businesses and found: ;End-of-year bonuses in 2024 averaged $2,503 — 2% higher than in 2023.; ;Communications industries — the highest-performing S&P 500 sector in 2024 — had the biggest leap by far, paying out 22% higher bonuses year-over-year.; ;Increases in other industries (10% in real estate, 9% in entertainment and recreation, and 8% in retail) also reflect a strong 2024 for those sectors and business owners’ optimism.; ;Bonus amounts in some service industries were down, including personal services (down 10%) and tourism and accommodations (down 7%), potentially signaling a cooling of wage growth for service workers after several years of post-pandemic wage increases.; ;The transportation and warehousing industries also saw a 10% decrease in bonus amounts, following a downturn in freight rates, demand and revenues.; “Instead of spreading bonuses more evenly, companies may be concentrating

See Issue Journal of Total Rewards Q2 2024 Studies of a variety of topic rewards topics, from AI and pay transparency to career advancement to analyzing a pay gap.

Practitioners are always analyzing, planning, and adapting to changing needs and landscapes.

; Additional Information This course is ideal for compensation professionals who regularly use Excel to analyze large quantities of data – and who want to work faster and more efficiently.

Census Bureau announcement that the gender wage gap widened in a “statistically significant” way for the first time since 2003 — and the larger picture that the wage gap has barely narrowed in two decades — may serve as an eye-opener for employers that have not yet internally analyzed or tackled wage disparities.

Employees can also receive a greater quantity of feedback and be less subjected to the individual biases of just one manager ( Di Fiore and Souza 2021 ).

Among the types of assistance employees can receive through this program are monthly mortgage or rental subsidies.