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For lower-income individuals, having access to childcare benefits may be just as good as pocketing more cash — an example of how non-compensation rewards can be a viable alternative for companies that face challenges in paying a living wage.

Lori Shannon, a Chicago-based partner in Barnes and Thornburg’s benefits and compensation practice group, foresees more employers using wellness programs to offer premium incentives, i.e., discounts, to participants in their group health plans for receiving COVID-19 vaccinations, rather than imposing penalties for passing on the vaccine.

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I think it’s super easy to get transaction [focused] in the TR space, and it’s really important that you understand compensation and benefits are incredibly personal to people and their families, and it’s important to remind yourself and your team of that regularly as you scale a people-focused team.

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