2023 Global Reward Trends Update

Previously Recorded on: 23 NOV 2023

In this 50-minute webinar, we explore:

• Managing reward in an inflationary environment​.
• The EU Pay Transparency Directive, and what it means for us​
• The emerging noise around skills​
• The circle that reward needs to try to square​ over the next few years
• Our latest data for 2024 salary planning

Latest data from the Economist Intelligence Unit says that inflation for 2023 will fall back from 2022, which was historically high.  We will look at the issues high inflation causes for reward management – but also the opportunities this provides, and look at how this might develop into 2024.

Many organisations are getting prepared for the EU Pay Transparency Directive, which will have requirements due in 2027. We will look at the highlights of Korn Ferry’s Global Total Rewards Pulse survey - where we asked how people were preparing for EU Pay Transparency, and how they saw the issues involved.  What are the challenges for employers? How can Korn Ferry’s maturity model help you to define where you want to get to from a pay equity perspective?

We hear many questions and considerable “noise” about reskilling as an issue, especially as new technologies emerge at an ever-increasing pace.  We explore some of the implications of this for reward, but also ask whether this is truly a new problem.

The need to pay flexibly for key skills, and the need to be more equitable in pay, give reward professionals a problem – because the 2 seem to be in conflict – we explore how we might square this circle in the years to come.

To conclude, we will also present Korn Ferry’s latest data for 2024 salary planning where you can discover the highlights in our global data trends which involve more than 150 countries, and 25,000,000 employees in more than 30,000 organizations.