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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;Employee Experience; ;Total Rewards; Pay Transparency: Why It Must Ensure Fairness, Not Just Compliance Pay transparency is a compliance necessity, but the psychological dimensions of rewards fairness are just as crucial.

Tailor Your Rewards While benefits such as work-life balance and flexibility are generally important to employees regardless of age, it may also behoove total rewards professionals to explore rewards offerings specifically tailored toward the needs of younger generations, Spencer said. “ Student debt support might disproportionately benefit millennials and Gen Z, but it could be a worthwhile investment for employers, given that 41% of survey respondents indicated that student loan debt has or will prevent them from pursuing their passions,” Spencer said.

How can total rewards leaders keep employee churn in check as these potential new developments take hold?

Workspan Daily Plus+ article;Best Practices for Supporting the Parental Leave Transition , Journal of Total Rewards article; For Everyone How Employee Leave Policies Can Support Women’s Health , Workspan Daily article;Beyond Parental Leave: Ways to Support Moms Returning to Work , Workspan Daily article;Why Caregiver Stress Is a Total Rewards Issue (and Opportunity) , Workspan Daily article; Managing any leave request in the U.S. that is applicable to the Family and Medical Leave Act (FMLA) presents its share of challenges.

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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.

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 Compensation; ;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.

It can provide organizations with experienced strategic insights and budget flexibility — allowing total rewards dollars to be reallocated to full-time staff, thus potentially enhancing those offerings.