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“[Employees] want to be treated fairly relative to their peers, or relative to others in the organization,” he said.

While the concept of rewards used to be relatively straightforward, changes in the workplace have disrupted that concept forever.

We are still in a strong labor market or a relatively strong one.

The most common historical approaches utilize realizable or earned pay concepts, comparing relative pay to relative performance (often TSR, but sometimes including other measures or a composite of several measures).

The insights gained “could yield opportunities, pain points and specific areas of focus for employers, ranging from work arrangements and training programs to employee engagement initiatives,” she said, noting that Transamerica research finds “relatively few employers” implementing a diversity and inclusion policy statement that includes age among other commonly referenced demographic characteristics.

According to new Gartner research, relatively few of these HR professionals feel their organizations are really prepared for upcoming changes tied to the future of work.

"Many employees leave organizations because they feel they haven’t been treated fairly and consistently relative to others in terms of compensation, job opportunities, performance assessments or career development opportunities," he explained.

;Pay transparency is relatively new.

Formulas Benefits Cost to Total Compensation Ratio Evaluates the proportion of benefits costs relative to total compensation expenses, highlighting the impact of benefits on overall compensation.

Rich Fuerstenberg, senior partner in Mercer’s health and benefits practice, said the concept of parental leave in general is still relatively new.