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Business leaders often budget for TR in the same way they budget for other operating expenses.

Because it costs less than financial rewards, a recognition program is seen as an inexpensive way to reward employee contributions.

“The only way to understand the best choice for you as a company is to model it out based on how that peer group has performed in prior years, and this requires a lot of work to create historical reference points.

;Participants offered a few ways to measure governance metrics, including compliance training hours employees (industrial conglomerate); compliance tests completed (global logistics company, machine manufacturer); and share of suppliers signed up to code of conduct (machine manufacturer).

Labor costs are the largest portion of the operating budget in most organizations—which means Total Rewards professionals influence bottom line results in an important way.

“These initiatives are our way of recognizing our people for the hard work they put in supporting Canadian businesses throughout the pandemic and responding to feedback we’ve heard on what matters most to our people.”

While surveys are a way to seek out women’s opinions, the NEBGH also recommends leveraging ERGs, particularly those that focus on women’s issues, life stages and common interests.

If dollar caps create savings, Jurik hopes employers find ways to invest it in lower-income workers.

An individual activity or decision on its own might be tactical or operational and only improve effectiveness, but when purposefully combined as a set of coordinated and integrated decisions that fit environmental contingencies in a way that other businesses are unable to mimic, it can create a competitive advantage that is sustainable due to its complexity, customization and difficulty to imitate.

Bearing in mind the empirical results reviewed in the previous section, we reviewed existing research on algorithmically managed compensation and identified three ways in which it can influence need satisfaction and work motivation.