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.; Total rewards professionals are under pressure to plan salary budgets in a challenging economic and labor environment —all the while supporting strategies to acquire critical-skill talent, engage/motivate the existing workforce and maintain pay systems that are fair and equitable.

It can help reduce the likelihood of losing seasoned employees who bring years of experience and are expensive to replace.

According to Gallup's State of the Global Workplace 2024, nearly half of employees in the US and Canada report experiencing daily stress at work, directly impacting the quality of workforce decisions.

It accounts for neutral, job-related factors like experience or job level that might explain why one group earns more.

The same is beginning to be true in regard to pay transparency, and it will only continue to be the case as younger generations enter the workforce.

Flat structures can create more fluid roles, which can be a change from their previous experience.; ;Explaining how decisions are made at the company , including the role of collaboration and teamwork in attaining goals.; ;Setting expectations for autonomy while providing readily available resources and support.; Process-Oriented vs.

While a hardline, no-exceptions policy ensures fairness across the workforce, it removes what may be a potentially effective tool from the line manager’s arsenal of tools.

Flexibility is built through salary ranges, zones or bands, allowing for variations based on things like experience, performance and location.

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: Employee Compensation ;Finance and Budgeting ;Equitable and Diverse Workplaces ;Employee Experience ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

Read Bio MEMBER Courtney McMillian Founder at Vanguard HR Strategy Group CCP, CBP, GRP, SHRM-SCP Courtney is a culturally sensitive leader with two decades of experience leading complex change management initiatives that define and shift company culture and empower diverse and distributed workforces.