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While cost of labor is a rising factor, employers shouldn’t downplay the importance of cost of living, according to Nancy Romanyshyn, senior director of total rewards strategy and solutions at Syndio.

Missteps in this area may make a successful cyberattack much more fraught — hackers likely would not only have access to data typically held by HR and total rewards professionals (e.g., addresses, Social Security numbers, dates of birth, banking information), but hackers may also be able to create believable video or audio of those employees to impersonate them more easily.

Workspan Magazine article;Employers Ready to Shuffle Health, Well- B eing Partners , Workspan Magazine article;How to Calculate the ROI on Your Wellness Program , Journal of Total Rewards article;Workplace Well-Being Trends , WorldatWork research ; ; You’ve spent plenty of time and energy crafting your organization’s wellness benefits.

Perhaps most notable for total rewards professionals are the: ;NLRB , which enforces the National Labor Relations Act (NLRA), conducts elections to determine union representation and investigates allegations of unfair labor practices (e.g., wages, pay rates, working hours, work conditions).; ;EEOC , which enforces federal laws that prohibit employment discrimination in numerous areas (e.g., hiring, firing, promotions, harassment, training, wages, benefits).; ;Pension Benefit Guaranty Corporation (PBGC), which was created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and monitor pension insurance premiums.; ;Securities and Exchange Commission (SEC), which requires public companies to disclose how much they pay their executives, and how that pay relates to corporate financial performance.; ;Social Security Administration

What Does That Mean for Total Rewards?

To wit, WorldatWork’s “Total Rewards Inventory and Practices” survey found that 66% of organizations offered paid parental leave in 2021, up nearly 10% from its pre-pandemic levels and up nearly 20% from 2017.

Employers must also “provide that the reward, when added to all other non-tobacco related wellness incentives for health-contingent programs will not exceed 30% of the total cost of employee-only coverage, or, if a dependent can also earn the incentive, the cost of the coverage in which the employee and dependent are enrolled.

For Hispanic women, the total was even greater, at $46.7 billion.

Employees have made it clear that they want flexibility in how and where they work,” said Alicia Scott-Wears, director of total rewards content at WorldatWork.

That said, total rewards and HR professionals will realize that employees who exhibit signs of disengagement from their jobs are sending a clear message to their employers that “it’s not us — it’s you.”