Written by Lisa Wallace and Enrique Esclusa, Cofounders & Co-CEOs, Assemble Compensation is experiencing its digital transformation moment. What is the full value of my compensation? How was it determined, and by whom? Am I paid competitively in the market? With the 2022 merit and bonus season behind many of us, and a year of looming economic uncertainty ahead, more employees and companies across America are asking hard questions about compensation than ever before. iStock Attention to what employees are paid for their contributions has skyrocketed in the past several years, as the COVID-19 pandemic dramatically disrupted the manner and method with which employees, particularly white collar knowledge workers, show up to and perform their jobs. This shift demands new tools and methods for managing compensation in order for businesses to succeed. We are experiencing compensation’s “Digital Transformation” moment, and it’s long overdue. Compensation and Total Rewards Professionals Are Aging Out of the Workforce The practice of determining what and why a certain employee is paid is usually run as a sub-function under Human Resources. Traditionally called Compensation & Benefits, it has more recently been rebranded to “Total Rewards” to more fully capture non-cash components of employee compensation like […]
Compensation Is Hitting Its Digital Transformation Moment
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