Stress has long been a part of working life. In previous years, one in three workers said that they typically feel stressed at work. Since the pandemic, however, stress levels have skyrocketed, as employees have scrambled to adapt to a world of remote work while also worrying about their family’s health.

The past year has been what many, including myself, are describing as a relentless crisis. Some businesses have passed this test thanks to the hard work and dedication of their employees. But a year of sustained stress could be the catalyst for another crisis: a tidal wave of employee burnout.

It’s becoming more common for employee resource groups to voice their concerns about internal pay equity. Over the last year, we have been getting more calls from leaders either responding to requests or proactively doing their due diligence to ensure they are rewarding their people equitably.

Recently, I was working with a General Counsel who was tasked with putting together an analysis of the pay for their top five leaders in preparation for their annual Board Meeting. As pay equity regulations trend towards increased levels of transparency and as organizations respond to the COVID-19 impact on the US economy, it is no surprise the Board wanted to take a closer look at their executive pay.

Compensation planning for the year ahead always involves a certain amount of guesswork. You have to try to anticipate several variables, from your company's performance to trends in the hiring market.

Acknowledging and appreciating employees is essential for a more positive, productive, and profitable organization. Over the years, there has been more and more evidence and data that links employee appreciation with customer satisfaction, and organizational growth.