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The traditional model of ensuring only the physical well-being of employees has been challenged and companies are now looking to provide well-being programs that help “[build] a culture of holistic well-being, including physical, emotional, financial, social, career, community and purpose,” according to Forbes.

.; The Unlocking Benefits for Independent Workers Act , sponsored by Cassidy (chair of the Senate’s Health, Education, Labor and Pensions committee), would: ;Establish a safe harbor under federal law for employers that would like to voluntarily provide benefits;; ;Apply to any benefit or protection commonly provided to full-time employees, such as retirement and healthcare benefits; and,; ;Apply to emerging models where firms may pay into portable accounts, or any combination of those arrangements.; The Independent Retirement Fairness Act , also sponsored by Cassidy, would allow independent workers to participate in certain retirement plans (e.g., pooled employer plans and single employee pension individual retirement accounts) that are already available under federal law.

Executive Compensation Complexity Can Harm Business Performance The second key finding is that executive compensation complexity is harmful for business performance across a large range of models and estimations.

As Bamberger (2023) described, “Employers are often concerned that even if pay structures are equitable and logically grounded in the market and the firm’s business model, communication of pay-related information may itself drive employee perceptions of unfairness.”

The other paths that employers use to evaluate the performance of their vendor partners are through typical benchmarking and placement processes, extensive actuarial modeling to validate vendor ROIs, and audits and process reviews — these are all necessary levers being used to support and connect members to appropriate care and solutions.

“Look at your total rewards model and ask yourself, ‘Are your actions aligned with your intent?’”

“Measure results and take an agile approach to refine the chronowork model over time based on learnings.”

Published in September, the study found 78% of participants now report remote or hybrid work as their organization’s primary work arrangement, with the most common being a hybrid model where employees split their time between the office and a remote setting.

.; ;Create a cost model to simulate different scenarios, ensuring payouts align with the budget and that the organization achieves an ROI on its spend.; ;Use change management practices to implement the plan.; ;After implementation, track the plan’s performance against defined metrics.; 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: ;Organizational Performance; ;Sales Compensation; ;Workforce Engagement;

More Evolution Ahead As TR, HR and C-suite leadership increasingly seek to maximize their limited benefit dollars with an effective mix of perks, they’re looking to partner with benefits advisers who will continuously refine their models to remain in-step with evolving needs.