From salary increase news to job architecture and pay equity, our five most highly read articles of 2019 touch on some of the biggest rewards topics of the year.
#1. Steady salary increases with higher bonuses is forecasted for U.S. employees. In our article, With Salaries and Bonuses Projected to Increase, U.S. Employees Can Expect a Pay Hike in 2020, we highlight the findings from Aon’s 2019-2020 U.S. Salary Increase Survey. It’s no surprise this was our top read article of 2019 given the appetite for companies to benchmark their compensation plans against the market and budget their payroll expenses for the upcoming year.
#2. Creating a roadmap for addressing pay equity. In our article, To Proactively Manage Pay Equity, Companies Must Take These Three Steps, we outline a roadmap for organizations that allows them to think of pay equity as an ongoing exercise rather than a one-time audit. Creating fair and transparent pay systems is a top priority for leading organizations and with the spread of pay equity laws globally, we expect this to continue to be a hot issue in 2020.
#3. Leading market factors that should trigger a review of your job architecture. In our article, 5 Reasons to Revisit Your Job Architecture, we looked at the primary reasons companies are reexamining their job architecture. These include evaluating pay equity systems, implementing a new HRIS system, planning for high growth, competing with a wider range of industries for talent and incorporating a new acquisition. Developing the right job architecture for your organization’s needs creates the building blocks of an effective rewards system.
#4. Technology companies are paying more to bring in new hires, reflecting high demand for talent. In our article, Technology Companies Pay New Hires More Than Current Employees for Key Job Roles, we analyzed our survey data to find that mid-level professional jobs across most job functions have significant base salary premiums for new hires vs. incumbent employees. This finding was not a total surprise given today’s hot talent market. However, retention concerns and internal pay gaps may arise when new-hire salaries surpass the rate that tenured employees earn.
#5. Steps to creating compelling rewards programs for new types of jobs at retail and e-commerce companies. In our article, Developing a Winning People Strategy for New Types of Technology Jobs at Retail Companies, we offer tips for developing compelling rewards and talent programs at retail and e-commerce companies — which are rapidly adding new types of jobs as they compete in the digital business environment. The retail industry is on the frontlines of designing jobs for the future, upskilling their current employees and determining future workforce needs to compete in a changing business environment.
Want to learn more about any of the topics covered in these articles? To get in touch with a member of our rewards consulting group, please write to rewards-solutions@aon.com.
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