A comprehensive compensation strategy checklist for today’s workforce
How are you strategically aligning your compensation practices to address the evolving needs and expectations of today’s workforce?
As employees increasingly prioritise holistic wellbeing and family over the traditional “rat race” mentality around salary, they seek a more personalised employee experience and enhanced compensation that provides more than just a suitable wage.
Since 2020, employees have had to navigate the financial stressors of a pandemic, skyrocketing inflation, and now, news of layoffs at companies known for championing employee experience. Meanwhile, employers are facing a subdued economic environment while trying to meet varying employee expectations around pay and reward.
For a compensation strategy to succeed in an era of fluctuating workforce conditions, it not only needs to be managed — it needs to evolve. This checklist covers what you need to develop and optimise your employee compensation strategy.
Download your checklist today
How do we build strategies for brighter talent experiences?
Get ready for your compensation program in 2024. Find out key areas to focus on to evolve your pay and reward strategies with our comprehensive checklist.
Budget
Reduce cost-of-living expenses for employees
Communication
Use surveys, personalised and innovative approaches
Competitiveness
Benchmark employee benefits and pay data
Performance & pay
Advance employee growth; prioritise wellness
Legal compliance
Invest in cost-effective compliance tech
Pay equity
Analyse and close pay gaps with software
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