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Examples of things that employers often forget to include in the regular rate calculation include: premium pay for leadership roll or a shift differential;;on-call pay (whether or not on-call time is deemed working time);;bonuses tied to productivity, attendance, longevity, quality of work; or flat sums for working extra shifts. ; These are only examples, as “regular rate” includes all forms of remuneration an employee receives except for limited, specific statutory exclusions.

There's a new approach to work that I refer to as the “ New Work Exchange ,” in which there’s a serious premium placed on the alignment of executive and organizational values with those of workers.

Adjustments are often required for differences in local costs of living, market competitiveness or unique skills that command a salary premium.

However, applying a singular differential to all of your salary surveys to determine the market value of a role may be more complex than simply adding a premium or discount.

Building the Right Compensation Package In addition to the standard salary and performance bonuses, Canavan said the building blocks should be: retention incentives, which organizations can address through real or “phantom equity” (a type of compensation award that references equity, but does not entitle the recipient to actual ownership in a company); a long-term cash bonus plan; or split-dollar life plan, which allows the sharing of the cost of a premium for a permanent life insurance policy.

Subscription-based services (for media, software, transportation and more) are common in consumer and business settings — enabling users to access premium features and resources without a significant upfront investment.

.; Although the study did not explore whether employees choose an HSA/FSA for a given year due to a particular medical procedure, it did find families with FSAs were more likely to utilize all types of services, which is associated with higher insurance-paid expenditures and premiums, compared to families with HSAs.

Access a related Workspan Daily article on this subject: ;Will Office Premiums Lure Employees Back to In-Person Work?

.; ;Health plan premiums are the main factor causing difficulty in affording healthcare, followed by out-of-pocket maximums.; ;Affordable and quality health benefits are key to employee retention, with more than a quarter of survey participants stating they would take a pay cut at a different job if it offered better health benefits.; ;60% of respondents would go to a primary care provider, doctor or hospital farther away from their homes if it would lower their healthcare costs.; “The survey indicates that rising costs lead to Americans not accessing the care they need or leaving their place of employment to find affordable health benefits,” Jeff Bak, the CEO and president of Imagine360, said in a statement.

“Employer-sponsored plans may face higher premiums, narrower networks, or more potential cost-shifting from providers responding to declining federal reimbursements and policy changes such as the expiration of ACA subsidies.”