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As power shifts from employer to employee , organizations will have to reframe the social contract between themselves and their workers, which will have to include the types and delivery mechanisms of rewards to their workforce.

The calculation: ;Total hours worked by FT employees: ;50 FT employees x 2,080 = 104,000 hours per year;; ;Total hours worked by PT employees: ;20 PT employees x 30 = 600 hours per week; ;600 hours per week x 52 weeks = 31,200 hours per year;; ;Calculate total FTEs: ;104,000 hours (FT) + 31,200 hours (PT) = 135,200 hours; ;135,200 hours / 2,080 hours = 65 FTEs;; Therefore, while the headcount is 70 employees, this organization has 65 FTEs.

For WorldatWork Members : ;Employee Engagement: Drivers, Measures and Outcomes , Journal of Total Rewards article;The Role of Employee Ownership in Total Rewards Strategy , Journal of Total Rewards article;Measuring Up Mentorship Programs , Workspan Magazine article;Internal Mobility Keeps Employees from Moving On , Workspan Magazine article;Total Rewards Inventory of Programs & Practices , research;Total Rewards Inventory Checklist , tool ; With younger workers poised to be the largest segment of the workforce — and with millennials and Gen Z employees exhibiting less corporate loyalty — employers are scrambling to find new solutions to keep young workers engaged and reduce turnover.

Organizational Performance Employee Compensation Employee Recognition Total Rewards Survey Results Employers are increasing their efforts to innovate and are relying on financial and non-financial rewards to spur new ideas and ways of doing business.

Workspan Daily article;Employees Seek More Personalized Total Rewards Packages , Workspan Daily article;With a Multigenerational Workforce, Personalized Rewards Are Key , Workspan Daily article;Essentials of Compensation Management , course;Total Rewards ’25 On-Demand Highlights , virtual conference; Total rewards professionals might pick up a few unexpected tips from their local movie theater to help balance the motivations of employees and business units that provide consistent, reliable value with those that strive for innovation and risk-taking.

"We continued to make substantial investments in our total rewards program in wages, health and welfare benefits, and training and development, but what really changed is how we market and brand our total rewards program to raise awareness and increase utilization with our workforce."

The run rate typically is expressed as a percentage of total shares or in total accounting cost terms.

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; ;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.

One way organizations drive business success is by implementing effective HR strategies and total rewards programs that attract and retain workers.

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; ;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.