Research

2018 Getting Compensation Right Survey Findings

Five keys to getting compensation right

June 18, 2018

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Getting Compensation Right is part of a larger Willis Towers Watson research initiative — Talent and Rewards Breakthroughs — a series of quarterly surveys that seek to discover the emerging trends and innovative practices required for human capital programs to remain relevant in today’s transformational times.

The 2018 Willis Towers Watson Getting Compensation Right Survey explores how technological, cultural and legislative changes are influencing rewards practices around the world, and what changes will be required to meet the demands of today’s evolving workforce. Thank you to the nearly 2,000 respondents from almost 50 countries around the world who participated.

Global findings report: Five keys to getting compensation right

In today’s rapidly evolving work ecosystem, compensation programs must meet a growing range of often conflicting objectives from market competitiveness to pay fairness, resulting in a complex decision-making process that requires greater use of technology.

This and other findings from the Getting Compensation Right Survey reveal the scope of the task confronting employers as they attempt to optimize their limited compensation budgets and communicate the results in a highly dynamic global work environment. In response, organizations are starting to think carefully about what they’re paying for and why. Many are taking a more future-focused approach to performance management and compensation decisions. At the same time, issues of pay transparency and equity are gaining traction globally, all of which are prompting organizations to take a broader view of their pay practices.

This research aims to provide a deeper understanding of the current state of pay programs globally, employers’ plans over the next three years and the best practice breakthroughs essential to getting compensation right.

Our findings examine five elements critical to developing relevant, high-impact compensation programs.

Icon: base pay (banded stack of currency) Icon: incentives (gift box) Icon: technology (processor) Icon: fair pay (man and woman) Icon: pay transparency (banded stack of currency)
Define the role of base pay. Improve differentiation of incentives. Make effective use of technology. Prioritize fair pay. Build a culture of pay transparency.

View the full report using the "Download" button.

Questions?

Contact Lisa Relle at lisa.relle@willistowerswatson.com.