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"With the financial markets and overall economy struggling to find footing throughout the year, most business segments remain under pressure to keep compensation costs down.”

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“The COVID-19 pandemic has made it clear to many companies that employees can and will work remotely worldwide,” said Steltenpohl, who is also the former head of global compensation at Heineken N.V.

“Some organizations, for example, are first and only rolling LTC coverage out as an executive benefit,” she said.

Meanwhile, low‑trust cultures pay an immediate tax by way of stalled execution and employees pulling back exactly when organizations need them leaning in.”

Additionally, more than half of Americans are unsure of exactly how much they will take home at the end of each year when considering their compensation, rewards and benefits, with less than half (48%) of employees claiming to know their total compensation for the year.

Workspan Daily Plus+ article; For Everyone Else ;A New Year Is Here — and Along with It, Minimum-Wage Changes , Workspan Daily article; ;Wage-and-Hour Compliance: You Are Either Fine or Fined , Workspan Daily article; ;Recognize the Power of Employee Recognition, Workspan Daily article; According to new Mercer research , hourly workers trail their salaried peers when it comes to career advancement opportunities, being able to afford healthcare and avoiding financial hardship — and they more frequently believe they are not being compensated fairly.