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Often cited as a way to measure the viability of a business strategy, project or product feature, cost-benefit analysis can serve as a useful tool for total rewards professionals.

Theresita Richard, the chief people and culture officer at Patagonia, may have provided a visual model while participating in a panel discussion, “Optimizing Total Rewards in a Volatile Work World,” at WorldatWork’s Total Rewards’24 conference Tuesday morning in Cincinnati.

This might include the cost of certifications or subscription services used for online learning, seminar attendance fees, or the average investment per employee of internal training programs they attended.; 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 Compensation; ;Employee Recognition; ;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.

Access a bonus Workspan Daily Plus+ article on this subject: ;Emphasizing the Value of Total Rewards During Economic Uncertainty; The economic uncertainties facing workers are significant: ;43% of employees surveyed by the Society for Human Resource Management (SHRM) said inflation had an extreme or significant impact on their personal finances in 2024, and 46% were concerned about inflation’s impact on the value of their compensation.; ;WTW’s recent “Global Benefits Attitudes Survey” found one-third of polled workers are financially worse off today than they were a year ago.

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 Compensation; ;Organizational Performance; ;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.

For WorldatWork Members Strategic HR Analytics: Driving Business Performance , Journal of Total Rewards article;Total Rewards Inventory of Programs & Practices , research;People Analytics Study , research; For Everyone Improve Workforce Engagement by Measuring the Right Analytics , Workspan Daily article;Powerful Decision-Making with HR Metrics and Analytics , on-demand webinar;How to Source and Analyze Data to Increase Business Insights and Impact , on-demand webinar; NEW!

Among workers who are very satisfied with their benefits, overall job satisfaction is 74%, versus 24% job satisfaction among workers who are dissatisfied with their benefits.; 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;People Analytics;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.

For WorldatWork Members ;Employing Age-Friendly Work Practices for Multigenerational Workforces , Journal of Total Rewards article; ;Strategic Benefits: How Employee Benefits Can Create a Sustainable Competitive Edge , Journal of Total Rewards article; ;Easy AI Tips to Improve Benefits Communications , Workspan Daily Plus+ article; NEW!

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.

For WorldatWork Members Supporting Employee Caregivers: A Resource Guide , Workspan Daily Plus+ article;Torn Between Work and Care , Workspan Magazine article;Childcare Benefits: Addressing Cost and Accessibility , Workspan Magazine article;Total Rewards Inventory of Programs & Practices , research; NEW!