In this episode of Comp & Coffee, host Ruth Thomas delves into the insights from Payscale’s newly released 2024 Salary Budget Survey Report. Joined by Amy Stewart, Principal of Research and Insights at Payscale, and Minde Stone, Senior Director of Rewards, HR Operations, and Talent Acquisition, the discussion covers critical findings from the survey, the macroeconomic factors influencing salary budgets, and practical tips for compensation professionals as they approach the budgeting season. Whether you’re a seasoned professional or new to compensation management, this episode offers actionable advice for planning your salary budget for 2025.
Key Highlights:
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Overview of the 2024 Salary Budget Survey and its importance for budget planning.
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Decline in salary budgets from the peak of the Great Resignation.
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Discussion on macroeconomic factors impacting salary budgets.
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Differences in salary budgeting trends across various industries.
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Practical tips for compensation professionals during the budgeting season.
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Importance of stakeholder engagement in the budgeting process.
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