{"id":14161,"date":"2023-12-21T09:00:51","date_gmt":"2023-12-21T09:00:51","guid":{"rendered":"http:\/\/TheNextWeb=1402485"},"modified":"2023-12-21T09:00:51","modified_gmt":"2023-12-21T09:00:51","slug":"5-compensation-and-benefits-trends-to-look-out-for-in-2024","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=14161","title":{"rendered":"5 compensation and benefits trends to look out for in 2024"},"content":{"rendered":"\n

Virgile Raingeard is the co-founder and CEO of Europe\u2019s leading compensation benchmarking platform Figures<\/a>, founded in 2020 and based in France. <\/em><\/p>\n

1. The end to \u2018competitive salary\u2019 on job adverts<\/strong><\/h2>\n

<\/span><\/span>Pay transparency has been the talk of the town this year following the new EU directive adopted by the Council in April, which will force companies to tell job seekers the expected salary (or salary range) for positions they advertise.<\/span><\/p>\n

As a result, we\u2019re predicting that 2024 will be the start of the end of \u2018competitive salary\u2019 on job postings. Not only is this the right (and soon to be legal) thing to do, but it can also help startups<\/a> and larger companies attract more talent: one recent survey found that <\/span>80% of jobseekers<\/span><\/a> would likely pass on applying for a job without pay information.<\/span><\/p>\n

Transparency will likely extend to compensation policies and philosophies so candidates and employees can see the thought process that goes into determining salaries so employees know they are being paid fairly and equitably. <\/span><\/p>\n

2. Focus on internal equity<\/strong><\/h2>\n
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Once the EU Pay Transparency directive is in force, all employers with 150+ employees will have to report their gender pay gap<\/a> and actively address and rectify it. More companies in 2024 are expected to allocate a portion of their compensation review budget to tackling the gender pay gap.<\/span><\/p>\n

Here\u2019s what that might look like depending on the organisation: <\/span><\/p>\n