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The publisher’s last offer, issued earlier in January, kept the total number of cuts at 94 and almost halved the proposed severance, the union said.

Other Options for Employers Given the fact that the majority of employees globally have indicated they would exchange pay for greater quality of life, finding ways to offer flexibility is a smart total rewards move, Ma said.

In addition,  the United Kingdom’s 2023 average total salary increase budget exceeded projections, reaching 4.5% (4.0% median) compared to the projected 3.9%.

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Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Employee Compensation ;Equitable and Diverse Workplaces ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Organizational Performance ;Employee Experience ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

Editor’s Note: Additional Content For more information and resources related to this article see the pages below, which offer quick access to all WorldatWork content on these topics: Equitable and Diverse Workplaces ;Employee Benefits ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.