The Pearl Meyer survey found that 44 percent of employers cited “retention concerns” as the primary reason for higher raises this year; 30 percent said “cost of living.”

“Many companies are still actively recruiting and know the employee mindset has changed, particularly for younger folks,” said Bill Reilly, managing director.

"Ultimately, compensation decisions should be based on your business goals and talent management strategy," said Bill Reilly, managing director at Pearl Meyer.

“You need to talk about your philosophy on pay structure and define the story around it,” said Beth Florin, CEO, Pearl Meyer. “There are going to be bumps in the road, but [pay] transparency needs to be more than showing a number.”

“A number of CEOs tell me that when they get promoted into that CEO role, one of the first questions their board has for them is, ‘OK, who’s going to be your replacement?'” said Jan Koors, senior managing director at Pearl Meyer. 

“Employers are trying to ensure that they can be as appealing as possible to candidates,” said Bill Reilly, managing director at Pearl Meyer. “The dynamic has shifted for people to look more holistically at the entire employer experience.”

"Even though tech companies have made an effort to control costs in the second half of this year, many have also increased their employees' compensation in some form over the last six months, most often through equity grants," said Aalap Shah, managing director at Pearl Meyer.

“Communication will play a big part in companies’ clawback strategies because the plan applies to compensation from current or former executives that was paid during the three years before the time that a restatement was required,” said Deborah Lifshey, managing director, Pearl Meyer.

“For the raft of new pay transparency laws to have a sustained impact, companies will need to inject other measures of transparency … that means being open about employees’ room for growth within the company, as well as their potential career path,” said Beth Florin, CEO at Pearl Meyer.

“The current macroeconomic climate has proven that we are in an employees’ market and a Pearl Meyer survey of corporate leadership earlier this year indicated that up to one-third of companies are feeling the pressure to pay more at the mid-year mark,” reported CFO Dive. 

“Companies are looking to ensure that compensation is delivered within variables that management can influence and drive,” said Brett Herand, principal, Pearl Meyer.

“There is more to shareholder concern about executive pay than just economics” said Deb Lifshey, managing director of Pearl Meyer. “Evolving ESG priorities might also drive scrutiny from a range of stakeholders.”