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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;Finance and Budgeting ;Total Rewards;

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.

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

Truth be told, this is no easy task to manage, given that total rewards and HR professionals must swiftly devise compensation solutions in response to economic shifts, complex laws and evolving workforce expectations.

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.

.; 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; ;Organizational Performance; ;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.

The findings suggest that, while target total direct compensation (TTDC) growth has slowed, the design and delivery of incentive pay are becoming more nuanced — and, in some cases, more complex — in response to continued volatility and companies seeking to attract, retain and incentivize top-tier 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; ;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 ;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.