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Frost: Organizations can connect disparate data sets, such as rewards data, other HR data, business performance data and even potentially external data (e.g., labor market data, socio-economic data), to drive strategic insights that improve business decisions.

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That may mean walking around a factory floor speaking directly with employees, setting up a table in the lunchroom to provide information about open enrollment, mailing out postcards about benefits offerings, offering in-person open-enrollment sessions, producing webinars and sending out companywide texts.

Under the wage code, the central government will soon fix a minimum base rate, with states also having the option to set their minimum wage above that rate.

“Leaders with a fixed mindset look for people who have the exact set of skills needed for the current role they’re trying to fill,” she said.

That should set off alarms for businesses.

;Workforce analytics: Uses an advanced set of data analysis tools and metrics for comprehensive workforce performance measurement and improvement.

Disclosure may also serve as a signaling device, allowing employers to coordinate/communicate in ways they couldn’t before; that is, multiple employers in a state or region may implicitly collude to set salaries.

If an organization’s goal is to retain its top performers, which is a common goal of performance management and compensation systems, then strict pay equality can create its own set of problems.

As a survey conducted by the Independent Economy Council (2022) suggested, large numbers of gig workers neither set aside money to pay taxes nor make required quarterly estimated tax payments.