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For one large-scale compensation plan, Terry recalled seeking presentation assistance from the two vendors that were bidding to be involved in the project.

Thus, blockchain deployment eliminates the intermediaries, vendors and recruiting agencies as the HR managers can independently verify transactions.

(See our 2023 SPM Vendor Guide to start gathering information.)

;Subscribe to a pay benchmarking service through vendors in the space.; While the second group has a head start on this work, even these companies may need to ramp up their compensation capabilities, since they may need to increase both the volume and quality of their work.

“The guidance makes it clear that employers are responsible for their tools even if they’re designed or administrated by a software vendor,” he said.

For example: ;See if your benefit vendors offer engaging educational tools that you can utilize.; ;Integrate TikTok-style videos, on-demand content and personalized decision-support tools into your existing enrollment platforms.; ;Use AI tools to scale your content in ways that make it meaningful for multiple audiences.; “It’s never done from an optimization perspective,” Mowrer said.

., and through cross-promotions with vendor partners (e.g., fertility, wellness, advocacy).

Her expertise in vendor negotiations, benefits plan optimization, and workforce analytics enables the organization to maintain cost-effective and employee-centric rewards structures.

;Look for inefficiencies , such as limited integration of reward programs and vendors, and offer a centralized rewards hub that is easy to access and use.

“What we’re seeing is a very focused effort by many organizations to open the ‘black box’ and be a lot more transparent about pay not only because they are required in many places to advertise pay ranges but because of the challenges in attracting and retaining talent,” she said.