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Access a Workspan Daily article on this subject: Mercer Projects 3.6% Total Salary Increase Budgets in 2025 ; “When done well, pay transparency can help an organization attract and retain talent, improve their reputation and brand image, build trust with employees, and enhance employee engagement,” said Gail Greenfield, executive vice president of pay equity and total rewards strategy and solutions at Trusaic.

Good structures make budgeting easier and give finance teams confidence in cost projections.

These job seekers will be familiar with these projections, and so should employers.; ;Are you transparent about pay, including a starting range on job openings based on experience?

The White House projects qualifying workers could save an average of $2,000 per year.

For example, if employees and managers perceive performance management as a “total rewards project” and a policing tool rather than a corporate-wide positive initiative, it can diminish their relationship with the TR/HR team and create fear of the TR/HR function, Loftus said.

‘Adjustment Is a Spectrum’ Joseph, who also is the project director of the Meltzer Center’s Advancing DEI Initiative , said current corporate decisions to pull back on programs, either publicly or tangibly, should not necessarily be linked to critiques of some programs as performative or divisive.

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By dedicating resources to this project, she said, it could help determine where your data is, ensure its accuracy and start a process for organizing it according to the specified categories and pay bands required under the language of the statute.

Healthcare costs are projected to rise in 2025, but a majority of employers will maintain their current benefits, according to a new Mercer study.

For WorldatWork Members Total Rewards Inventory of Programs & Practices , research;5 Health Benefits Trends Come into Focus for 2024 , Workspan Magazine article;Navigating Employees’ Serious Medical Needs , on-demand webinar;Total Rewards Inventory Checklist , tool; For Everyone Employer Healthcare Costs Projected to Hit 10-Year High in 2025 , Workspan Daily article;Employers Look to Balance Rising Health Costs, Benefit Upgrades in 2025 , Workspan Daily article;As Health Costs Spike, Total Rewards and CFO Collaboration Is Crucial , Workspan Daily article;Employers Grapple with the Rising Costs and Popularity of Specialty Weight-Loss Drugs , Workspan Daily article; With the glucagon-like peptide-1 (or GLP-1)class of drugs now approved by the U.S.