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Benchmark your compensation against market rates, offer competitive compensation packages, and provide opportunities for career growth and development to retain valuable employees.

Employee Benefits Employee Compensation Total Rewards Survey Results The latest version of this study, published in September 2024 reflects practices for the last complete plan year, 2023.

Compensation & Benefits Review 21(5): 44-56.

Employers of all sizes should be developing a comprehensive plan on how compensation changes are communicated throughout the organization.

“The survey includes very robust research,” said Sue Holloway, director of compensation strategy at WorldatWork.

David Glasgow, Executive Director, Meltzer Center for Diversity, Inclusion and Belonging, NYU , Workspan Magazine article; NEW!

For organizations seeking to reduce bias in a skills-based pay structure, the experts interviewed for this article shared AI tools can generate value by: ;Helping to identify, define, assess and reward skills most important to your organization.; ;Walking a total rewards (TR) professional through different variables to land on personalized suggestions regarding pay decisions based on a specific employee’s skills, once a tool has been trained with employer-specific data and guidelines.; ;Combing through your organization’s compensation data to determine if employees across various divisions and demographics are truly being paid consistently for comparable skills, and identify patterns or disparities indicating potential bias.; ;Helping drive compensation decisions based on real-time benchmarking data related to skills.; “By having more timely and robust access to external market data, rewards teams will be able to react quickly to changes in the market for talent by directing salary

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: Finance and Budgeting ;Employee Compensation ; You have to login to perform this action.

.; Additional Information This course is ideal for professionals who are responsible for compensating dispersed employees and who want to build, support and administer a geographic pay strategy grounded in geographic pay differentials.