As we wrap up 2021, it’s a good time to reflect on the changes the year has brought and prepare for the new year ahead. The world of work continues to change rapidly, with new changes, opportunities, and challenges undoubtedly on the horizon.
It’s never been more important to invest in your own professional development to keep your skills sharp, support your teams, and move your organizations forward. We hope this blog has been a valuable resource to help you navigate the complex and ever-changing world of compensation.
In case you missed them—or simply want to read them again—here are our community’s most viewed compensation blog posts from 2021.
Salaries are rising quickly. Low-wage workers are seeing the biggest compensation increases, which may be creating a smaller difference in pay between them and more experienced workers at your organization. The Great Reshuffle and skilled talent scarcity might also mean your organization offers new team members higher salaries than your tenured team members. Both scenarios lead to salary compression, which can demotivate and disengage your team members, leading to lower productivity and higher turnover.
This blog post reviews how to spot salary compression—and what you can do about it.
Review cycles are right around the corner for many companies. Conducting an effective compensation analysis during your cycle can help you use your budget more strategically, so you can reward your team members fairly and consistently.
This blog post explores what an effective compensation analysis is, why they’re important. and how to conduct one.
Pay equity is top of mind at many organizations—as it should be. Unfair compensation practices have existed for far too long and it’s time to take action to improve internal equity and close wage gaps.
This article will help you learn more about pay equity, why it matters, and how to improve it at your organization.
There have been so many changes over the past couple of years, with many more ahead as we transition into our “next normal.” Compensation, in particular, has been rife with change. Salary freezes and pay cuts were common early in the pandemic, but salaries are now increasing quickly alongside record-high inflation. And that’s not the only thing that’s changing.
This blog post shares 5 compensation trends to help you execute a more strategic compensation strategy in the new year.
With all of the complexities involved in compensation, it’s easy to overlook important ways to ensure you’re using it strategically. But it is probably your organization’s biggest operating expense, and it’s worth the extra effort and investment to get it right. Even the most seasoned compensation teams have opportunities to improve, and know that iteration is key to a successful practice.
This blog post shares some common compensation mistakes, and what you can do to fix them.
Bonus: Our most popular compensation blog posts of all time
In addition to our recent blog posts, there are a handful of posts that continue to be popular among our community year-after-year. Be sure to give them a read if you haven’t already.
We wish you all a healthy, happy, and peaceful end to 2021 and look forward to seeing what the new year has in store. Please reach out if you’d like to discuss how Compaas can help you make more strategic compensation decisions and run more effective review cycles—we’d love to chat!
Want to learn more?
Make 2022 the year compensation becomes your strategic advantage.