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But, the total pay increase budget, projected at 4% for 2023, is still less than half of the inflation rate (8.3% for the 12 months ended August 2022).

In WorldatWork’s 2024 Total Rewards Inventory of Programs & Practices , 69% of the nearly 1,000 responding organizations reported offering paid time off for employees to vote, and 33% reported offering unpaid time off to vote.

For WorldatWork Members ;Technology to Move the DEI Needle , Workspan Magazine article;AI Copilots: Improving the HR Experience for Employees , Journal of Total Rewards article;TR Is Key to Successfully Integrating AI and Work , Journal of Total Rewards article; For Everyone ;New U.S.

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 Compensation; ;Total Rewards;

For WorldatWork Members Helping Employees Secure Their Retirement Future , Journal of Total Rewards article;Retirement Booster , Workspan Magazine article;Revisiting Retirement Benefits , Workspan Magazine article;Your Retirement Plan May Be Fostering Inequity: Here’s How to Fix It , Workspan Magazine article; For Everyone The Critical Role of Retirement Income Projections in DC Plans , Workspan Daily article;ERISA at 50: The Evolution of Retirement Benefits , Workspan Daily article;Employers: Urge Workers to Consider HSAs as a Retirement Tool , Workspan Daily article;Retirement Plans — Design Considerations & Administration , course; While the dual certainties of death and taxes have long prompted universal dread, most American workers now fear something as even more grave than the grave: retirement.

“That speaks to the power that non-financial rewards like job security, benefits and flexible work have in retaining employees,” said Monica Martin, a senior director and total rewards leader at WTW.

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; ;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.

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; ;Well-Being; #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 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; Cultivating the right mix of employee benefits is more important than ever for organizations and their total rewards (TR) professionals, particularly with research indicating personalization and choice are impactful in attracting and retaining top talent.

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; ;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.