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Key Takeaways Surveys should be in the total rewards toolbox.

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Many different types of pay plans have been created over the years, each with a different twist to address the needs of organizations and their employees at the time.

A total of 1316 full responses were received.

The report also found that while current pay budgets have risen to 4.2%, in 2022 more than two-thirds of companies (70%) spent more than they originally planned on pay adjustments for the past 12 months.

Asian-American women earn 93 cents for /$1 men make; White women, 83 cents; Black women, 70 cents; and Hispanic women, 65 cents.

The team found costs — the employers’ contributions as a percentage of total benefits compensation — varied widely.

For WorldatWork Members ;How to Leverage Skills Testing for Total Rewards Success , Workspan Daily Plus+ article; ;A Step-by-Step Guide to One Skills-Based Org Lever TR Can Pull , Workspan Daily Plus+ article; ;AI and the Skills Evolution: Where the Total Rewards Function Fits In , Workspan Daily Plus+ article; ;How to Incorporate Skills into Rewards and Recognition , Workspan Daily Plus+ article; ;Compensation Philosophy Guide , tool; For Everyone ;Are You Considering Paying Premiums for AI Skills?

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In the face of a volatile economy, organizations must strategically navigate the complexities of total rewards to maintain employee engagement, retention and overall organizational performance.