With a continued tight labor market despite the fear of an economic slowdown, salary compression continues to be an issue when hiring new talent. During this 20-minute webcast, Alden Aikins, Solutions Consultant, focuses on wage compression and what you can do to prevent it.
This webinar covers the following topics:
- What is salary compression?
- How does compression tie into a broader discussion about pay equity?
- What steps can you take to prevent compression in a hot jobs market?
- Understanding Wage Compression
Salary compression occurs when different job levels are paid within the same range. One way this can be triggered is when you must hire new talent at a similar rate to current employees with more experience or seniority and who do similar work. To prevent salary compression, Alden advises what to watch out for, both within and outside of your organization, as well as the impact of compression.
How Are Wage Compression and Pay Equity Related?
To understand the relationship between wage compression and pay equity, you need to understand how the prices within the job market move in relation to your employees and if the movement can create a pay equity issue for gender, race, or other differences. Watch this 20-minute Comp Conversation to learn what steps you can take to avoid salary compression and potential pay equity issues.
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