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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.

"Coupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover ... but have also increased hourly total cash compensation by nearly 50% since fiscal year 2020," the company said in a statement.

;Total rewards should be utilized more .

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: Equitable and Diverse Workplaces;Employee Benefits;Total Rewards;

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; Making sweeping changes to your total rewards program can be a thorny task, due to the intensely personal nature of compensation and benefits for employees.

For WorldatWork Members ;Total Rewards Inventory of Programs and Practices , research; ;Total Rewards Inventory Checklist , tool; ;How Well Do You Elevate Employee Input into Total Rewards Design?

In each issue of Workspan , we grab some time with total rewards leaders, industry authorities, consultants and academics to get their insights on current workforce topics that are top-of-mind for them — and 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.

The articles in this issue of the Journal of Total Rewards (JTR) originated in the 8th Reward Management Conference in Brussels in December 2022.