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Total rewards and human resources professionals face so many challenges today from external factors such as new business trends, economic conditions, emerging technologies, changing policies and workforce demographics.

Relocation benefits remain a tool for total rewards professionals to recruit top talent in hands-on industries such as healthcare and manufacturing.; After falling to a record low of 1.5% in the fourth quarter of 2023, the percentage of U.S. workers relocating for new jobs increased to 2.4% in the first quarter of 2024, according to a new quarterly report published by Challenger that surveyed 3,000 job seekers across the country.

For WorldatWork Members Total Rewards Inventory of Programs & Practices , research;5 Health Benefits Trends Come into Focus for 2024 , Workspan Magazine article;Navigating Employees’ Serious Medical Needs , on-demand webinar;Total Rewards Inventory Checklist , tool; As the demand for glucagon-like peptide-1 (orGLP-1) drugs increases, and the potential applications of them continue to expand (from diabetes management to obesity and beyond), employers are weighing both the cost of covering the medications and the potential long-term benefit (to employees and the organization).

For WorldatWork Members Leveraging Incentives for Future Work Challenges: Exploring the Employee Perspective , Journal of Total Rewards;The Future of Work and Rewards , research;AI Is HR’s Future, but Modernization Comes First , Workspan Magazine article; For Everyone Traditional Job Architecture Career Streams Collide with Modern Work , Workspan Daily article;Job Architecture for the Future of Work , on-demand webinar;How AI Is Transforming the Total Rewards Landscape , Workspan Daily article; CEOs are pumping out new business strategies in the wake of increased competition, mandates and disruption.

For WorldatWork Members ;College Recruiting and Employment Decisions: What Total Rewards Messages Matter Most This Year?

Understanding Employee Perspectives In addition to offering pay transparency, employers must make sure their staff understands their salary and benefits, especially since less than half of workers in the US (48%) know their total compensation.

"Coupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover ... but have also increased hourly total cash compensation by nearly 50% since fiscal year 2020," the company said in a statement.

For WorldatWork Members ;Getting Benefits Enrollment Right: Big Trends Spark Fresh Strategies , Workspan Magazine article; ;5 Ways You Can Reduce Workers’ Open Enrollment Regret , Workspan Daily Plus+ article;Benefit Document Builder , tool; For Everyone ;Most of Your Workers Will Likely Regret Their Open Enrollment Choices , Workspan Daily article; ;Open Enrollment Is an Opportunity for Education and Engagement , Workspan Daily article; ;Strategic Communication in Employee Benefits , course; ;Total Rewards ’25 , conference; When it comes to employees selecting their healthcare coverage benefits, there is good news and bad news.

The total 401(k) savings rate increased to a record 14.3%, only slightly less than the 15% plan advisors have encouraged for years, reported The National Association of Plan Advisors .

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: ;Finance and Budgeting; ;Organizational Performance; ;Sales Compensation; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.