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"At the same time, the accelerating rise of technology and automation shows that modern, digitally enabled rewards strategies are now essential to staying competitive and delivering personalized experiences.

Long work hours with low pay and no protection for working children evolved into federal and state wage-and-hour laws, which are the cornerstone of the modern working world.

Key takeaways include: How to align compensation planning with business and talent strategies including pay-for-performance;Best practices for managing merit cycles and incentive programs with confidence;Strategies to streamline approvals, reduce manual errors, and gain real-time insights;Ways to improve total rewards communication and manager enablement; Whether you’re preparing for year-end or looking to modernize your compensation approach, this webinar will give you the tools, insights, and technology to drive greater value from your compensation programs.

The resurgence of skill-based pay reflects the growing need to address modern workforce challenges and evolving business priorities.

Here, we take a peek at two hourly workforce compensation application platforms and one software app designed to help employers attract and land the best workers to meet their emerging hourly worker hiring needs.

While organizations invest heavily in plan design, most fall short in ensuring participants understand what is expected, why it matters or how individual actions contribute to outcomes.

The most innovative companies are looking at post-COVID times as a chance to review in-depth and upgrade their different rewards programs — leveling, market surveys, salary design, short-term variable pay, long-term compensation and executive remuneration, benefits, work-life harmony (which is very important in Europe), recognition, talent development and the like, to make them more modern, fit-for-purpose and constitutive of a powerful employee value proposition.

Hybrid or remote working policies, flexible schedules , mental health benefits, pensions, and tailored perks such as wellness programs or lifestyle discounts are solidifying their place as critical components of a people-first approach in the modern workplace.

He stated, “There are many issues that require regulatory clarity and stability so that the system can function properly, including (1) modernizing defined contribution plans to include alternative investments, such as private equity and cryptocurrency ; (2) the consideration of ESG [ environmental, social and governance ] factors; (3) the fiduciary rule as applied to [individual retirement account] rollovers; (4) mental health parity; (5) plan forfeitures; (6) pension risk transfers; (7) tobacco and vaccine surcharges and wellness programs; (8) managing pharmacy benefit managers and healthcare costs; and (9) cybersecurity to protect participants assets — just to name a few key issues.

While this trend impacts employers of all sizes, small employers do not have the same opportunities to negotiate rates or select alternative plan designs.