And many businesses are still experimenting with the most effec-tive
way to tie pay to performance, as HR professionals continue
to advance their thinking on the performance review model that
brings the most value for an engaged, productive workforce.
In this month’s Compensation Issue, we examine the major
trends impacting the compensation landscape – from the cover
story on emerging best practices to our feature on how the leading
OECD nations are addressing the gender pay gap.
You will read about some of the most innovative ways HR has
found to provide alternative benefits and compensation packages,
some ideas for handling contingent workforces and the gig econo-my,
and how some companies differentiate pay for top performers.
For me, one of the most interesting facets of this month’s issue
is the creativity that human resources is demonstrating towards
building effective total rewards packages that result in the reten-tion
of top talent.
As we know, today it isn’t only about the amount of compen-sation
one earns that creates satisfaction and engagement. Many
workers are equally concerned with finding a role they can be pas-sionate
and purposeful about, and a role that provides flexible
options enabling workers to meet their commitments and interest
beyond their work world.
“Across all income levels, the top predictor of workplace satis-faction
is not pay: It is the culture and values of the organization,
followed closely by the quality of senior leadership and the ca-reer
opportunities at the company,” wrote Andrew Chamberlain,
Glassdoor’s chief economist, in a 2017 Harvard Business Review
article. “Among the six workplace factors we examined, compensa-tion
and benefits were consistently rated among the least important
factors of workplace happiness.”
This is a very important finding, and one that has been sup-ported
by a large quantity of recent research… and requires HR
professionals to understand and create solutions that respond to
this. As HR professionals continue to support the fostering of pos-itive
workplace culture and address wellness and non-monetary
benefits with the balance of what is affordable. We have exciting
work to do as we continue to drive value in our workplaces! n
Karen Stone, CHRE, is chair of the Human Resources
6 ❚ FEBRUARY 2018 ❚ HR PROFESSIONAL