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Julie Stich, the vice president of content at the International Foundation of Employee Benefit Plans (IFEBP), advised a focus on plan design, including: ;Cost-sharing requirements;; ;Incentives for using generic drugs or mail-order services for maintenance prescriptions; and,; ;Effective step therapies beginning with lower-cost treatments.; “There needs to be a balance between what employees need to ensure the most effective care possible while controlling spend,” she said.

The same can hold true for total rewards professionals when analyzing their organization’s compensation system.

., $1,000 to $1,500 per hour, like those of partners at professional services firms).; Market Observations We analyzed post-CEO transition pay disclosures that represent various arrangements in the market.

;Demographics of pay equity analysis. 98% analyze pay by gender, with 91% by ethnicity and 55% age. 50% of organizations use all three of those factors.

The result: You will be more productive and better able to quickly analyze data and produce valuable insights that lead to better business decisions.

;Subscribe to a pay benchmarking service through vendors in the space.; While the second group has a head start on this work, even these companies may need to ramp up their compensation capabilities, since they may need to increase both the volume and quality of their work.

Employers and retirement service providers are uniquely positioned to guide this workforce group.

;Analyze and interpret survey data.

"You have to build this muscle of prioritization, analyzing what I need to do right now, taking action, analyzing what I can, and taking action.

By connecting and analyzing data on tasks, skills, roles and talent, workforce intelligence better allows HR and total rewards (TR) leaders to: ;Anticipate shifts;; ;Plan with precision; and,; ;Make smarter decisions that align talent strategies with business goals.; Traditional Talent Planning Versus Workforce Intelligence Many organizations still rely on outdated processes for workforce planning.