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;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.

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

We identified and partnered with a vendor that could handle access for our 36,000 employees globally, whether they are sitting at a desk or on-site at one of our plants, and could provide employees with access to personalized programs, tools and coaching to help them improve their overall well-being.

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

For example, we can now leverage chatbots to answer straightforward employee questions about program eligibility and provide links to vendors or program documents.

PBMs are progressively exploring ways to incorporate those types of offerings into their own apps and services that they offer insurers and employers, which total rewards professionals can vet as they’re assessing vendor solutions — a timely task as health costs continue to increase .

To address this, companies like Peloton, for example, work with vendors to help employees with student-loan debts through programs similar to a 401(k) match.

(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.