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Hartstein said that granting various types of benefits, equity, bonuses or other compensation plans may create opportunities to also protect the organization’s interests in these areas, or make changes to existing agreements to keep up with legal changes.

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Compensation professionals can use strategic benefits offerings to boost engagement by targeting programs that enhance motivation, involvement and energy.

Now in its 48 th year, the 136-page report provides CEOs, Chief Financial Officers and HR professionals with robust, year-over-year data to design competitive compensation plans and Total Rewards strategies that attract and retain high-performing employees.

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Holding everything constant, ignoring state and local income taxes and other taxes such as paying into unemployment or worker’s compensation funds, and assuming $40,000 in compensation as in Veliotis and Balsam (2022), the benefit to a company of independent contractor status would be the after-tax savings of the employer portion of the Social Security and Medicare taxes, which is $2,417 (see Table 1).

Mondal views the “quiet quitting” phenomenon as something that affects a vast swath of workers, not because they no longer care about compensation or their work, but because “other priorities may be overwhelming them, causing them to rethink their priorities.”

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: Well-Being ;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: People Analytics ;Employee Experience ;Organizational Performance ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.