Payscale’s 2024 Compensation Best Practices survey, with 5,735 responses, reveals that around 21% of organizations exceeded revenue targets in 2023, despite economic challenges. The survey highlights that top-performing organizations, regardless of size, achieve success through proactive, transparent, and communicative pay practices. These include always-accessible pay communications, detailed breakdowns of pay increases, and issuing total rewards statements. Top performers invest in diverse salary data, compensation technology, and strategy, ensuring employees understand the "what" and "why" behind their pay, maximizing ROI on their compensation strategy.

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