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;Labor costs (Total Rewards) account for up to 70% of total business costs.

From a tax perspective, real equity awards are more favorable than other types of awards, because they typically support the taxation of all or a portion of the value realized from the award as capital gain versus ordinary income.

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.

For WorldatWork Members ;Skills-Based Mentoring: An Efficient Way to Build Skills , Workspan Daily Plus+ article; ;How Apprenticeships Can Help Organizations Gain Skilled Workers , Workspan Daily Plus+ article; ;A Step-by-Step Guide to One Skills-Based Org Lever TR Can Pull , Workspan Daily Plus+ article; ;Career Curation: How Total Rewards Can Drive Skills Portfolio Building , Workspan Daily Plus+ article; There is a strong focus today on skills-based compensation, which is used to attract, reward and advance employees who have attained specific skills and continue to build on them.

“We also know that organizations are taking a broad approach to funding their increase in total compensation spend,” Jennings said, noting that 43% of survey respondents indicated they will fund through total rewards optimization, pointing to an approach that considers other factors beyond pay, such as well-being and benefits.

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

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.

, according to a recent report by recruitment software platform Howdy.; 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: ;Career Growth; ;Employee Benefits; ;Employee Compensation; ;Finance and Budgeting; ;Well-Being; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

How to maintain pay equity for a variety of types of employees — full-time, part-time, project-based, gig workers?

Domaszewicz advised total rewards professionals to provide a way for workers to compare different plan types and account for factors such as premium and deductible cost, use of an HSA, number of family members, health conditions and potential health scenarios.