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September 18, 2024 Scottsdale, Arizona  — As remote and hybrid work models solidify their place in the modern workplace, organizations are rapidly evolving their Total Rewards strategies to meet the shifting demands of their workforce.

For WorldatWork Members ;Considerations to Manage the Costs of GLP-1 Coverage , Workspan Daily Plus+ article; ;The What, How and Why of Performing a Cost-Benefit Analysis , Workspan Daily Plus+ article; ;Health Insurance Selection Checklist for Employees, Workspan Daily Plus+ article; ;Use This Checklist Toward Modernizing Your Pharmacy Benefits , Workspan Daily Plus+ article; For Everyone ;Rising Healthcare Costs Forcing Employers to Rewrite Their Game Plan , Workspan Daily article; ;Healthcare Cost Projections Necessitate TR Strategy Updates , Workspan Daily article; ;Preventive Care Can Lift Employee Well-Being, Lower Healthcare Costs , Workspan Daily article; ;As Interest in GLP-1 Drugs Spikes, Employers Weigh the Costs, Benefits , Workspan Daily article; ;Cost-Benefit Analysis May Help You Maximize Your Offering Spend , Workspan Daily article; Employers are facing a higher spike in healthcare costs than they’ve seen in years.

FOUR TENETS OF MODERNIZING THE TOTAL REWARDS EMPLOYEE EXPERIENCE So, what are the key tenets of a modernized employee experience when it comes to total rewards?

For WorldatWork Members Total Rewards Inventory of Programs & Practices , research;WorldatWork KPIs and Business Formulas , tool;Benefit Document Builder , tool;Utilizing Benefits to Strategically Foster Employee Engagement , Journal of Total Rewards article;Studies: Benefits Offerings Grow to Strengthen Employee Engagement , Journal of Total Rewards article; For Everyone Employers Say They Offer ‘Modern’ Benefits; Workers See It Differently , Workspan Daily article;Are Employers Aligned with Workers’ Pay and Benefit Concerns?

Large Language Models Large language models (LLMs) are often discussed in association with Gen AI.

For WorldatWork Members Total Rewards Model: A Guide , tool;Takeover or Transformation?

The Financial Fluency Imperative for CHROs The modern CHRO must be fluent in: ;Cost of workforce as a percentage of revenue; ;Financial-metric (i.e., earnings before interest, taxes, depreciation and amortization, or EBITDA) sensitivity to compensation decisions; ;Headcount productivity ratios; ;Cash flow implications of incentive accruals; ;Long-term liability modeling; Without this fluency, TR remains tactical.

“Modernizing education and tuition assistance programs are a key development strategy and can be used to best reflect how today’s workforce learns.”