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The resulting inflation surge also created pressure on employers to raise salaries to both retain employees and attract new hires.

.; The Role of Bonuses in Overall Compensation Strategy Bonuses and other variable pay are an especially popular compensation strategy in performance-oriented jobs or industries particularly focused on retaining skilled labor — and they spike during periods of economic growth, said Ruth Thomas, a pay equity strategist at compensation software and data company Payscale.

For WorldatWork Members ;Employing Age-Friendly Work Practices for Multigenerational Workforces , Journal of Total Rewards article; ;Measuring Up Mentorship Programs , Workspan Magazine article; ;Generational ERGs: Engaging Older Employees , Workspan Magazine article; ;The Power of Job Rotation, Shadowing and Stretch Goals , Workspan Daily Plus+ article; For Everyone ;Invest in Career Development to Retain Young Talent , Workspan Daily article; ;Internal Investment: The Rewards of a Job Rotation Program , Workspan Daily article; ;With a Multigenerational Workforce, Personalized Rewards Are Key , Workspan Daily article; ;Total Rewards ’25 , conference; With multiple generations working side by side, both literally and figuratively, addressing skill, experience, knowledge and communication gaps in the workplace has become crucial for employers who want to retain and elevate talent as well as create a more inclusive culture.

Workspan Daily article;How to Optimize Compensation through Business Cycles: A Case Study , Workspan Daily article;Business Acumen and Communication Strategies in Total Rewards , course;Certified Benefits Professional , certification;Total Rewards ’26 , conference; People are the core of any business, but in today’s world of work, the right talent can be hard to attract and even harder to retain.

.; Still, it remains to be seen what will happen over the next several months as employers address rising healthcare cost increases and reevaluate the return on investment (ROI) of benefits that were expanded during the COVID-19 pandemic to attract and retain talent in a tight labor market.

.; ;Recreating job descriptions and building clearer career progression with skill-based pay strategies to retain employees before market gaps create flight risk.; Advantages for Tenure Conversely, employees in “tenure advantage” roles (where institutional knowledge, deep expertise and/or customer relationships is at a premium) earn, on average, 6.1% more than their newer coworkers.

Incorporating benefits aimed at increasing worker activity into total rewards packages can both mitigate these risks and help organizations attract and retain talent, especially health-conscious individuals, she said.

“We aim to continuously improve the federal government’s ability to recruit, hire and retain a diverse and skilled workforce to strengthen the way agencies deliver on their missions for the American people,” OPM acting director Rob Shriver stated in a press release .

This will allow them to target their TR investments and focus on the elements that are most relevant to the specific employee populations they need to retain and engage.

This can help to motivate and retain top talent while maintaining fairness within the sales team.; ;Market-competitive pay levels.