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“Employers reported their total 2022 base pay increase budgets at 3.8%, but our data showed a 6.7% increase in base pay for hourly employees staying in the same job at the same organization from 2021 to 2022.

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 Journal of Total Rewards (29): 3.

For WorldatWork Members Stay Interviews: A Simple Way to Boost Retention , Workspan Daily Plus+ article;Reimagining Rewards Strategies in the New Landscape of Work , Journal of Total Rewards article;How Qualitative and Quantitative Data Can Influence Benefits Design , Workspan Daily Plus+ article; For Everyone Pulse Survey Reveals Tech Industry Holding the Line on Stock-Based Compensation , Workspan Daily article;Recent HR Software Acquisitions Point to More AI-Focused Future , Workspan Daily article;How An Industry Leader Sees Technology Transforming Total Rewards , Workspan Daily article; Notwithstanding a persistent string of layoffs in the technology sector over the past year, attracting the right tech talent continues to pose challenges for employers.

For WorldatWork Members Strategic HR Analytics: Driving Business Performance , Journal of Total Rewards article;Total Rewards Inventory of Programs & Practices , research;People Analytics Study , research; Whether designing or evaluating employee benefits, total rewards (TR) professionals perform an intricate juggling act, taking to heart: ;What employees say they want,; ;What employees actually use,; ;Employer budgets, and; ;Employer objectives.; With these — and other — balls in the air, TR pros today must utilize data to detect patterns and create balanced and effective benefits programs.

Workspan Daily article;Reimagining Total Rewards — A Personalized and Dynamic Experience , webinar; HR departments and their total rewards (TR) function traditionally have been responsible for the well-being of the organizational workforce, but this responsibility has become increasingly demanding in recent years.

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.

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: ;Organizational Performance; ;Sales 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.

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.