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Editor's note: This article is the third in a four-part series exploring living wages in the total rewards context .

Be careful not to violate employees’ rights to discuss the terms and conditions of their employment, which is protected under the National Labor Relations Act (NLRA).; 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; ;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 retailers, labor cost generally accounts for 10% to 20% of total sales and sometimes even more than 50% of total operational cost (Madhani 2021c).

For WorldatWork Members Helping Employees Secure Their Retirement Future , Journal of Total Rewards article;Revisiting Retirement Benefits , Workspan Magazine article;FAQs to Help You Navigate Employee Retirement Discussions , Workspan Daily Plus+ article;How TR Pros Can Help Workers Financially Prepare for Retirement , Workspan Daily Plus+ article; For Everyone Chevron Doctrine Overturned: What It Means for Employers , Workspan Daily article;Fiduciary Final Rule Is Published.

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 Experience; ;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.

One way organizations drive business success is by implementing effective HR strategies and total rewards programs that attract and retain workers.

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; ;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.

Total rewards professionals, particularly those in organizations that have employees in multiple states, need to be aware of this trend and any applicable changes that may be forthcoming.

That means we need to ever-assess and ever-adapt our total rewards strategies.

Workspan: Why did Dow launch a major multiyear revamp of its global total rewards program?