What are one or more issues that will help define future of compensation professionals’ work?
There are many issues that will help to define this future. Let us look at two.
One will be the growing pressures from globalization. These pressures will force compensation professionals to be able to identify how much a given job is truly worth. They will have to determine which jobs they can afford to pay good money for in a competitive environment.
A second will be the growing pressure from the public and perhaps from government to fashion compensation packages that only reward higher management if firms really do well. People are getting to be very angry about the way that upper management is paid and the seeming gap between that and the value they bring to the firm. Compensation professionals may well come under a great deal of pressure to craft packages that are seen to reward only those who truly deserve it.