The report offers three takeaways for HR professionals, Amy Stewart, Payscale’s associate director of content and editorial, told HR Dive. First, despite the precarious economy, pay raises are looking higher again in 2023, compared to pre-COVID-19 years, although they are not likely to be as high as inflation, Stewart said.
Second, HR pros should place a greater priority on pay equity to help them prepare for pay transparency and make fair pay central to the employee experience, Stewart said. Pay equity, initially pursued to guard against legal claims, has gone “mainstream” and is now a core responsibility of compensation, experts have noted.
