Searching Pondering Equity-Based Long-Term Incentive Plans on page 176

From boardrooms to breakrooms, using sports-related terms is common practice in today’s business world.

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“You can’t base your assessment based on subjective evaluation — you have to crunch the numbers,” she explained.

Tanner , less than 40% of workers even know what the term “total rewards ” means and only 14% of th em can explain it .

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“The pandemic accelerated this change in many dimensions, resulting in more flexible options for workers,” he said, adding that long-predicted changes in workforce demographics — including a large number of members of the Baby Boomer generation retiring from traditional jobs and seeking part-time arrangements — has forced employers to pay more attention to alternatives to full-time roles.

;Action items: ;Review nondiscrimination testing to assess how the increased limit might affect testing results.; ;Determine if you will increase the contribution limit for your plan.; ;Update plan documents to reflect the new limit, if applicable.; ;Communicate the change to employees during open enrollment.; ;Prepare to answer employee questions if your plan does not increase the contribution limit to $7,500.;;; ;Student loan repayment plans.

While some tasks require local administration, 82% of organizations in the Alexander Group’s recent Sales Compensation Trends survey reported using a centralized global team to perform most daily plan administration activities.

For HR and total rewards (TR) leaders, today’s leadership landscape carries several important takeaways: ;Leadership potential is not an innate talent — it’s a skill that can be taught, developed and practiced .; ;Rewards programs, internal development pipelines and workforce planning must evolve to reward these recalibrated behaviors and skills.; “We have to promote people not just based on seniority or title, or because they’ve come in through another part of the organization, but based on performance and how they impact people as work is getting done,” Grady said.

The coffee company has plans to double its employees’ hourly incomes by the end of 2025, compared to 2020, through more hours and higher pay.