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Strategic decisions define in which market a business is going to compete, what type of competitor is in that market and the investment the business is going to make in being a market competitor.

(See the sidebar “Nonlinear Internal Mobility: Moving Around, Not Up or Sideways” on page 36.)

However, any type of joke or figure of speech that stereotypes a group should be off-limits.

But should the competitive posture be the same for all types of employees, irrespective of skill set or type of work?

What the Study Revealed As a refresher, according to the U.S. government website HealthCare.gov : ;An HSA is a type of savings account that lets participants set aside money on a pre-tax basis to pay for qualified medical expenses.

According to a Gartner (2023) study, these organizations have reported significant success: 79% have achieved standardized decisions, 72% think managers have more time for higher-value activities and 57% have seen improvements in pay-for-performance efforts.; However, this leap into automation is not the norm.

While there’s no one-size-fits-all approach to achieving an effective balance of risk and reward in every compensation plan, organizations should ensure compensation programs are appropriately designed and function based on the types and extent of their risk.

Employers can consider approaches such as concierge-type vendor solutions and lifestyle spending accounts, WTW’s Bade said.

For instance, 28% of businesses in the retail, hospitality, catering, leisure and cleaning sub-sector (which has been particularly hard hit by the economic restrictions) reported that their employees’ financial well-being had been “very negatively” affected by recent events, while 18% of companies in the legal, financial, technology and other professional services sub-sector (18%) reported that there had been a positive impact (this possibly reflects savings in commuting costs, since these types of jobs can be done from home).

As we shall now see, both types of intervention have a positive impact.