Reading the Compensation Curve
Compensation planning requires HR leaders to balance salary budgets with changing labor market conditions, economic trends, and employee expectations. But while inflation can influence how employees experience their pay, salary increases are driven by the supply and demand of labor.
In this HRO Today Educational Podcast, HRO Today CEO Elliot Clark speaks with Lori Wisper, Senior Managing Director at Willis Towers Watson, about the factors shaping salary increases and compensation budgets. They explore the difference between cost of living and cost of labor, how economic shifts have influenced salary budgets over the past 50 years, and what current labor market conditions can tell us about where compensation is headed.
Tune in to hear how long-term salary data can provide context for today’s compensation environment, why salary budgets have remained in the “land of 3%,” and how HR leaders can use labor market insights to make more informed compensation decisions.
You can read Lori Wisper’s article mentioned in the podcast here.
