This post was originally published on this site
Over the last few months we’ve been working on our 2023 Compensation Data and Technology Trends research that we update every two years. In this year’s findings, we uncovered some new areas of interest, from how and why companies adopt these technologies to how they are changing their use of data to support comp practices.
In the graphic below snipped from the final report that will be published soon, we outline seven of the differentiators between high-performing firms (those with better revenue, retention, and engagement measures relative to their peers) and the rest. The points cover critical areas like:
Adoption of technology to support compensation strategy and decisions Use of data across a wide variety of types and applications Focus on pay equity as a business practice, not just a separate program And more
This is based on research of over 1,000 employers across virtually every industry and organizational size by headcount.
We saw very strong links in the research that indicate employers who are prioritizing pay transparency and pay equity are more likely to be high-performing overall.
These practices ultimately offer a helpful set of guidelines for organizations looking to establish themselves as high performers, especially
