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For example, organizations will expand the use of key talent equity awards, temporary skills premiums and other ad hoc allowances to provide an edge in attracting and retaining key talent without locking in high payroll costs.

Second, organizations can offer benefits that attract and retain high-energy people.

Using the right balance of incentives to reward individuals and teams that select the right deals and execute deals well can be a value creation differentiator, especially in the current environment where there is significant pressure in rising wages and broader challenges in attracting and retaining talent.

Implementation of a DEIA plan that includes voluntary representation goals or, for companies that are federal contractors, affirmative action plan goals, coupled with specific strategies for attracting, retaining and advancing diverse talent.

However, employers can't rely on office perks and in-person camaraderie to attract and retain key employees anymore.

What a lot of employers are doing now — in terms of attracting, retaining and engaging [talent] — is explaining.

“That, in turn, helps employers retain employees over longer periods, as they won’t have the same need to seek a higher-paid position.”

Stay the Course and Be Prepared With all the legal machinations occurring, employers still need to retain focus and, since one or more court decisions have yet to be rendered, they and their HR and total rewards teams should be prepared for the rule to go into effect.

For WorldatWork Members ;FAQs to Help You Navigate Employee Retirement Discussions , Workspan Daily Plus+ article; ;Checklist: Questions and Resources to Prep Employees for Retirement , Workspan Daily Plus+ article; ;How TR Pros Can Help Workers Financially Prepare for Retirement , Workspan Daily Plus+ article; ;Retaining Older Employees?

For WorldatWork Members How Total Rewards and Career Development Go Hand in Hand , Workspan Daily Plus+ article;How to Contend with a Job-Hopping Workforce , Workspan Daily Plus+ article;Don’t Underestimate the Power of Non-Financial Rewards , Workspan Daily Plus+ article;Pivot on Pay: Getting Creative to Attract and Incentivize Talent , Workspan Magazine article; For Everyone Young Workers Opting for the Job-Hop Instead of the Climb , Workspan Daily article;Career Well-Being Drives Engagement and Retention , Workspan Daily article;Invest in Career Development to Retain Young Talent , Workspan Daily article; The talent landscape is rapidly evolving, and as a result, employers should embrace the opportunity to adapt.