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“The pharmacy benefit specifically has, historically, gotten less attention in terms of benefit design compared to other employee rewards, so members don’t understand their pharmacy benefit in the same way they do dental or medical.”

Firms seeking growth beyond their core offerings will need customized but adaptive compensation strategies designed to attract and retain specialized talent.

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Then, using inputs about your compensation designs, business strategy, and the nuanced employee and candidate characteristics you value and will pay for, these tools, she stated, can help inform future pay decisions that align with your corporate priorities and objectives — becoming a valuable augmentation tool for TR professionals.

TR professionals can design systems that nurture these conditions, blending pay development and recognition into a cohesive experience.

We guide them in the design and delivery of Total Rewards programs with our membership, education, certification, idea exchange, thought leadership, knowledge creation, information sharing, research, and networking.

And, as described by Banks and Witt in their article in this special issue (page 55), workplace design can affect employee well-being by designing healthy workplaces.

Still, almost as many employers set remote-worker pay based on the city where the employee resides, while other determinants include the worker’s state of residence, assigned office, closest office or region of residence.

To succeed these days, they need to: ;Think like a data analyst; ;Communicate like a public relations expert; ;Understand compensation like a financial wiz; ;Design benefit packages like an architect; ;Align strategies with business objectives like a CEO; ;Navigate regulatory compliance like a risk manager; ;Grasp legal compliance like a lawyer; This article focuses on those last two bullet points since TR compliance, particularly with wage-and-hour rules and regulations, can keep you and your team in good standing with organizational leadership, the general workforce, counsel and government agencies.

Businesses would need to separately report tips and overtime earnings on employees’ W-2 forms and, for non-employees (including gig workers), report payment portions designated as tips.