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Think total rewards more than salary, but that’s tough for hourly jobs where people will change employers for a relatively small increase in pay.”

Some other changes that could last beyond the pandemic include: Revising the pay mix by increasing the base salary as a percentage of total cash, to attract talent, reduce anxiety/improve mental health, and protect talent from being poached by the competition, especially given the tight labor market across industries.

Action Items Employers should be communicating their compensation strategies to their employees to ensure they understand their total value to the organization, said Clarke.

For WorldatWork Members The Mental Health Parity ‘Dream’: How You Can Support Your Employees , Workspan Daily Plus+ article;Workplace Well-Being Deserves a Fresh Look , Journal of Total Rewards article;Workplace Well-Being Trends , research; For Everyone 5 Ways You Can Raise Organizational Awareness of Mental Health , Workspan Daily article;Boost EAP Usage to Address Mental Health Support , Workspan Daily article;Despite Greater Mental Health Needs, Frontline Workers Less Likely to Seek Help , Workspan Daily article; This is part two of a two-part series examining health disparities and the workplace.

“Innovative rewards approaches help employers to differentiate themselves but typically employers want to do so in a manner that manages and controls risk to business operations,” said Alicia Scott-Wears, director of total rewards content at WorldatWork.

Explaining Opportunity While the compensation conversation is of course about explaining pay, it’s also about explaining opportunity, said Nancy Romanyshyn, Syndio’s senior director of total rewards strategy & solutions.

Go Beyond Compensation Carol Leaman, CEO and co-founder of Axonify, which trains frontline workers, said organizations will have to use multiple levers in their total rewards model to fill labor shortages this time of year.

.; When creating new incentive plans or changing existing ones, compensation and total rewards professionals can draw from a wealth of data and analytical tools .

For WorldatWork Members ;Addressing the Healthcare Gender Gap , Workspan Magazine article;The Power of Allyship in Facilitating Female Leadership in Healthcare , Workspan Magazine article;5 Health Benefits Trends Come into Focus for 2024 , Workspan Magazine article; For Everyone Employers Look to Balance Rising Health Costs, Benefit Upgrades in 2025 , Workspan Daily article;Employer Healthcare Costs Projected to Hit 10-Year High in 2025 , Workspan Daily article;As Health Costs Spike, Total Rewards and CFO Collaboration Is Crucial , Workspan Daily article;Health and Welfare Plans: Strategic Planning and Design , course; A nationwide shortage of 100,000 critical healthcare workers is expected by 2028, according to a new Mercer report .

For WorldatWork Members ;Helping Employees Secure Their Retirement Future , Journal of Total Rewards article; ;FAQs to Help You Navigate Employee Retirement Discussions , Workspan Daily Plus+ article; ;Checklist: Questions and Resources to Prep Employees for Retirement , Workspan Daily Plus+ article; ;How TR Pros Can Help Workers Financially Prepare for Retirement , Workspan Daily Plus+ article; For Everyone ;The SECURE 2.0 Act Sequel: What Changes Arrive in 2025?