In contemporary employer value propositions, the terms 'trust' and 'authenticity' are frequently emphasized, symbolizing the core values of a corporate culture. The prevalence of these concepts may be attributed to a concerted effort to address workforce sentiments like a perceived lack of control or value, possibly exacerbated by the disruptions caused by the Covid era. Simultaneously, organizations were already undergoing intentional disruption or business transformation prior to the COVID crisis.

The dynamism in the HR/HCM operating landscape, driven by factors ranging from changes in workforce-related laws to the pursuit of new HCM-related competitive advantages, is intensifying. In response to the pandemic, organizations are realigning their company culture with evolving employee needs or enhancing organizational agility. This evolving landscape necessitates continuous investments in HR data and technology infrastructure.

A significant shift is observed in workforce-related laws, particularly focusing on pay transparency. Numerous U.S. states have enacted pay transparency laws, with some states mandating the disclosure of salary ranges on job descriptions. Compliance requirements emphasize visibility, accessibility, and understanding of salary ranges, often facilitated by effective people managers. Well-executed pay transparency programs, leveraging salary surveys, provide a rational way to explain the valuation of jobs internally and align with external market benchmarks.

As organizations increasingly adopt pay transparency, there is a need for a more comprehensive approach to salary ranges, considering the fluidity of the HR operating environment. The concept of a salary range system of record is introduced as a reliable, real-time platform providing guidance on external market salary ranges and benchmarks. This system goes beyond traditional market guideposts, accommodating unique job functions, roles, or skills crucial for business success. It considers factors like geographic differentials, compensation mix changes, and a broader set of performance indicators.

The deployment of a salary range system of record, integrated into an enterprise software platform, becomes essential for managing compensation survey data and other relevant information transparently. In conclusion, leveraging a fluid operating environment becomes a strategic asset when supported by a reliable system of record that integrates various data points for optimal decision-making, especially in the critical area of compensation. This not only addresses the challenges of non-standard job definitions but also provides a significant competitive advantage in a dynamic business environment.