Salary.com is the market leader in cloud-based total compensation management software and solutions. The company has released the initial results of its research into compensation pitfalls. The number of traps that compensation can fall into is growing. Salary.com has the solutions.
“Compensation has always been a tough business,” says Lenna Turner, director of diversity at Salary.com. “Compensation professionals have been wrestling for decades with well-known pitfalls that have gotten tougher. But the last several years have witnessed the onset of a whole new set of challenges. Remote work used to be a one-off exception. Artificial intelligence is disrupting the compensation industry. The gig economy is evolving. These and other factors are disrupting the job of compensation. Our research team has crafted a roadmap to guide compensation and HR professionals through this maze of challenges.
The infographic, released by Salary.com, starts with the classic pitfalls that compensation departments have always wrestled with. The graphic also includes a series of emergent pitfalls, which are challenges that have only risen to prominence in recent years. Salary.com will look in detail at solutions to each of the emergent pitfalls in the coming weeks, including the following:
- remote work and solving the conflict between workforce realities and old-school needs;
- skills and why initiatives fail;
- pay equity and how compliance becomes competitive advantage; and
- the risk and rewards tradeoff associated with artificial intelligence.
