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For WorldatWork Members ;Bonus Programs and Practices , research; ;Total Rewards Inventory of Programs and Practices , research; ;Total Rewards Inventory Checklist , tool; ;Crafting the Employee Value Proposition , tool; A recent report conducted by recruitment marketing agency HireClix found that more than 70% of employers have a formal employee referral program, but only 2% of them report that those programs are currently working.

Actions to consider include: ;Offer comprehensive wellness programs that can increase the overall health of your workforce and potentially identify conditions and treatment before they become more significant.; ;Implement strategies like centers of excellence for costly procedures (e.g., organ transplants, cancer treatments), which can provide quality care at a lower, negotiated rate.; ;Pursue pharmacy benefit management (PBM) strategies to manage high-cost specialty drugs like glucagon-like peptide-1 (GLP-1).; 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 Benefits; ;Finance and Budgeting; ;Well-Being; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

Broken out by employee type, organizations are projecting an average increase of: 4.1% for nonexempt hourly employees and nonexempt salaried employees.;4.1% for exempt salaried employees.;4% for officers and executives in 2024.; Promotional Increases WorldatWork’s survey reported that 55% of organizations budget for promotional pay increases while 45% do not.

In fact, 70% of working caregivers have had to call out from work for at least one day, and 59% had to take two or more days off work for caregiving duties, according to the Rosalynn Carter Institute for Caregivers .

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 Benefits; ;Employee Compensation;Employee Recognition; ;Total Rewards; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

An article in the current edition of Workspan magazine — “ How Will Recent Union Wins Affect Overall Total Rewards?

For WorldatWork Members ;Internal Talent Marketplaces Get a Boost from AI , Workspan Magazine article; ;TR Is Key to Successfully Integrating AI and Work , Journal of Total Rewards article; ;AI Copilots: Improving the HR Experience for Employees , Journal of Total Rewards article; ;Mini-study: Emerging Insights on AI in Total Rewards , research; For Everyone ;How Will AI Impact TR’s Roles and Strategies Over the Next 5 Years?

For WorldatWork Members ;Data Innovation in the Era of AI , Workspan Magazine article;AI Copilots: Improving the HR Experience for Employees , Journal of Total Rewards article;Get the Most Out of Your AI Investment , Journal of Total Rewards article;Integrating AI into Total Rewards: Innovation Meets Caution , webinar ; For Everyone ;AI and Pay Transparency: Understand and Mitigate the Risks , Workspan Daily article;Regulations on the Rise as Employers Experiment with AI , Workspan Daily article;How Employers Can Leverage AI in Promotion Decisions , Workspan Daily article ; ; Artificial intelligence (AI) is no longer the scary monster hiding around the corner for organizations.

UPS to Cut 20,000 Jobs, 70+ Facilities UPS is looking to cut about 20,000 jobs this year and close more than 70 facilities by the end of June as it drastically reduces the amount of Amazon shipments it handles, according to the Associated Press .

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 Benefits; ;Employee Experience; ;Total Rewards; ;Workforce Engagement; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.