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From there, explore ways to adjust the plan design or communications strategies to help those groups save more.

Julie Stich, the vice president of content at the International Foundation of Employee Benefit Plans (IFEBP), advised a focus on plan design, including: ;Cost-sharing requirements;; ;Incentives for using generic drugs or mail-order services for maintenance prescriptions; and,; ;Effective step therapies beginning with lower-cost treatments.; “There needs to be a balance between what employees need to ensure the most effective care possible while controlling spend,” she said.

Although this program is often thought of as an incentive for productivity improvement, it is designed to encourage and facilitate innovation among employees at all levels in the organization.

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Once skill gaps are identified, Martin said employers should design and implement targeted training programs to enhance employees’ skills.

This regulatory shift has exposed a critical vulnerability in many traditional compensation philosophies that were simply not designed to hold up to external scrutiny — and the clock is ticking to fix it.

Organizations that are mature in this area are harnessing vast swaths of data to get smart about decision-making, clearly communicating the value of their offerings and philosophies, and designing robust and efficient strategies engineered to drive value.

As the panelists shared, it can get them thinking more like product designers, sales and marketing pros, and even the total rewards consumer.

As a result, companies have introduced a bevy of benefits designed to help address mental health concerns among their workers.

However, as salary levels decrease, geography often drives the setting of competitive pay rates enough to warrant building them into not only a compensation strategy and philosophy but also adding “geographic salary differentials” into the design and delivery of pay programs.