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According to a study published in the fourth quarter 2023 issue of Workspan magazine, a surge in salary data — especially those that come from disparate sources — places a premium on data analysis skills.

“They could charge clients a premium for those skills,” explained Shekar Nalle Pilli Venkateswara, workforce transformation practice leader with WTW, who worked with the company on the initiative.

Data suggests that the mere existence of unions can drive up wages and total compensation, resulting in what economists call a “union wage premium.”

What’s more, while women and men at the same job buy the same health insurance, women tend to get less coverage for every premium dollar spent.

The company’s broader benefits package includes free vision and dental insurance, free or low-premium medical insurance, and profit-sharing, she said, which helps employees afford 401(k) contributions and avoid withdrawals.

After a few years of flat or modest cost hikes, employer-sponsored health insurance premiums rose by an average of 7% in 2023, according to a benchmark survey by KFF .

.; Finally, and of critical importance, MorganHR’s 2020 Best Practices in Employee Benefits Research Study shows that, in light of the global pandemic and recession, health care is an essential element of today’s benefits package, especially with some studies indicating health insurance premiums could increase by 40% in 2021.

For example, organizations will expand the use of key talent equity awards, temporary skills premiums and other ad hoc allowances to provide an edge in attracting and retaining key talent without locking in high payroll costs.

The company might even give a premium for engaged sales collaboration by providing a 150% sales credit split: 75% for the national account manager and 75% for the local salesperson.

., 401(k), HSA, health insurance premiums) must be considered when calculating the gross bonus to ensure that the net bonus is received after all deductions are applied.