Let’s look at the 10 larger trends in compensation and HR that formed the industry in 2017.
Want to see how our 2017 predictions were maintained for the compensation industry? Read the previous publication in this series.
1. Salary history The prohibitions became law
In October 2017, California joined Massachusetts, Delaware, Oregon, Puerto Rico, New York City, Philadelphia and other places in The United States in the prohibition of the consultations of the History of Salaries during the recruitment process. Read more.
Legislators at the state level continued to address the just pay and pay the capital concerns of a variety of angles, including the prohibition of consultations in candidate salary stories. The advocates of these laws believe that they will fight paid inequalities established in the market that could reduce the future gain power of theemployees.
2. The shortage of talents remained the number one concern of HR
According to our 2017 Outlook Compensation Survey, 68% of HR professionals were More concerned about Scarcity of Talent in 2017 versus the previous year. Read more.
As Baby Boomers resume, organizations must replace employees highly qualified holders with new talent. In 2017, low unemployment rates maintained the shortage of talent, especially specialized talent: the top of mind for many HR professionals.
3. Salary increase The budgets were maintained in 2017
75% of respondents to our 2017-2018 national budget survey did not report any changes to their budgets for wage increases In 2017. Read more.
The annual salary increases the budgets remained stable at 3% of the payroll, despiteL 58% of organizations informing income growth in 2017. Although income is traditionally a high change driver in financing the compensation program, market pressure to maintain salary growth. He won in 2017.
4. Performance payment models became continuous talks
Josh Bersin estimates that 70% of multinational companies have moved to continuous performance assessments, Instead of the annuals. It renounces more.
As the Millennials and Gen Z originate at the age of the workforce, many companies have abandoned formal performance assessments in favor of current coaching talks, challenging compensation professionals to offer payment payment models no Traditional that reward the best interpreters and keep employees committed.
5. The managers felt comfortable discussing the performanceOr, but not pay
Less than half of the respondents to our 2017 Outlook Compensation Survey reported that managers in their organization are able to have effective conversations about more payment.
Managers, not human resources practitioners, were on the front lines of communication of payment policies and decisions to employees in 2017. The most effective compensation professionals adopted this process of change and provided a new training To managers to improve successful philosophies and payment policies of the organization.
6. The conscious budget organizations took advantage of the recognition of Employees Programs to promote results
According to Worldatwork, organizations had an average of 4.5 employee recognition programs in use in 2017. Read plus.
Facing a flat salary increase budgets, organizationsIt became increasingly converted to non-low-cost employee recognition programs to promote commitment and performance. And with 34% of the organizations reporting higher levels of recognition throughout the organization in 2017, these programs clearly had an impact.
7. HR was old at the time of Big Data
About 50% of the organizations surveyed by the Sloan Management School of MIT indicated that their main Analytics challenge He was becoming the perspective of the analyzes. Read more.
Large data have long been a way of life for human and compensation professionals. But 2017 marked a change away from analysis and knowledge, allowing HR to see beyond the noise of great data and drive the real value for its business
8. Artificial intelligence appeared on the radar of Human Resources
\”Assembly inPour into AI. We do not invest in natural language processing. We do not invest in the analytical image. We are always investing in a business problem. \”- Matthew Evans, VP digital transformation in Airbus, remodeling business with artificial intelligence. Lee more.
In 2017, HR began to take advantage of technological advances in AI and the Learning the machine to streamline workflows and solve business problems. With predictive salary survey coincidences, detection capabilities for free candidates and chatbots designed to promote commitment, 2017 marked the increase in AI technology in HR .
9. Data of public origin became the verification of the intestine of human resources
According to our 2017 Outlook Compensation Survey , 24% more HR professionals were willing to consider information informed by employees than in 2016, but onlyAs one of the many sources in the price process. Read more.
With salaries for hot work moving at a record rate in the market, more and more professionals of human resources took advantage of employees-repo.Datas RTED to maintain a pulse at the market prices updated in 2017. But Although they were open to using data informed by employees as a check of the intestine for traditional surveys, the results of the survey continued to show the discomfort of HR that confuses the crowd.Dates of origin origin as a single source of truth.
10. The demands of payment transparency are pressed at HR
\”The best approach for any organization is somewhere in the opening spectrum that is aligned with culture and the model of business \”.- Ben Eubanks, main analyst of research and advice, transparency and compensation: Trends and best practices. More.
The TRAssparence of payment was a hot topic in 2017, with companies such as buffer who make news of its radical approach to 100% payment. But for most HR professionals, payment transparency is still a slow processThey want to take step by step, not a jump at the deep end.Coming soon: the best trends that predict for 2018.