Employers are already seeing some of the changes that will define the workplace of the future, and some are responding, taking steps to improve performance management and pay practices. They’re creating cultures of transparency and inclusivity. And they’re listening to employees, who want new skills, more flexibility, recognition and evidence that they’re being paid fairly.
When it comes to pay equity, some have dedicated millions to closing their gender pay gaps, and such efforts often start with a pay audit. “Employers contending with fair pay and gender gap issues should conduct a gender pay equity review, which can help them better understand whether they have fair pay issues, where they exist, and their underlying causes,” said Mark Reid, global leader, executive compensation for WTW, in a statement.