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Actions to consider include: ;Offer comprehensive wellness programs that can increase the overall health of your workforce and potentially identify conditions and treatment before they become more significant.; ;Implement strategies like centers of excellence for costly procedures (e.g., organ transplants, cancer treatments), which can provide quality care at a lower, negotiated rate.; ;Pursue pharmacy benefit management (PBM) strategies to manage high-cost specialty drugs like glucagon-like peptide-1 (GLP-1).; 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; ;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.

Looking at employer size, companies with: ;500 or more employees gained 74,000 jobs; ;250 to 499 employees gained 3,000; ;50 to 249 employees lost 25,000; ;20 to 49 employees gained 5,000; ;1 to 19 employees lost 15,000; 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: ;Finance and Budgeting; ;Organizational Performance; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

See Issue Journal of Total Rewards Q4 2023 This issue of the Journal of Total Rewards focuses on teaching and communicating Total Rewards to employees.

See Issue Journal of Total Rewards Q1 2024 Artificial intelligence (AI) and its role in enhancing and improving total rewards is our focus in this issue of The Journal of Total Rewards.

For WorldatWork Members Bonus Programs & Practices Report , research;Total Rewards Inventory of Programs & Practices Report , research;Changed Job Market Drives Strategic Approach to Total Rewards , Workspan Magazine article;Making Pay for Performance Work , on-demand webinar; For Everyone How Bonuses Figure Into 2024 Compensation Plans , Workspan Daily article;Sign-On Bonuses Can Play Pivotal Role in Attracting Seasonal Staff , Workspan Daily article; Nearly all U.S. organizations are using bonuses as a total rewards vehicle.

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.

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;

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; ;Employee Recognition; ;Workforce Engagement;Career Growth; #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 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 & Practices , research;Unlocking the Value of HSAs: Trends, Truths and What's Next , webinar; ;Getting Benefits Enrollment Right: Big Trends Spark Fresh Strategies , Workspan Magazine article; ;Workplace Wellness: Best Practices Study , Journal of Total Rewards article; ;Wellness Woes: Why Aren’t Employees Using Your Benefits?