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For example, an Illinois law that went into effect at the beginning of 2024 states that organizations with at least 50 employees in the Chicago area must provide their full-time employees with pretax public transit benefits after 120 days of employment.

With the OPSU, we’re trying to solve a specific problem: how to deliver meaningful upside without prepaying for it and without giving up retentive full value awards that serve a different purpose.

Finding the Right Talent An organization that lacks confidence in its leadership pipeline often lacks visibility into the full capabilities and aspirations of internal talent, according to Hancock.

If not eligible for Medicaid under the new rules, low-income individuals would pay full premiums on the Affordable Care Act exchange, which are very expensive.; ;Action items: ;Support employees on Medicaid with documentation of hours worked to maintain eligibility.; ;Consider increasing the hours of affected employees to meet the new requirements.; ;Consider adding group health insurance coverage for part-time workers, if not already in place.;;; 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; ;Finance and Budgeting; ;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.

This can involve providing benefits that help to extend the purchasing power of their employees’ wages, such as providing loans for season tickets for mass transit or bikes to cut their transportation costs.

Companies with financials that perform above threshold in the first performance period but not in the second could find themselves paying out on an annual incentive despite poor full-year performance.

TR can offer those intangibles as well: WorldatWork’s Total Rewards Professional Career Study showed that 85% of respondents agreed somewhat or strongly that they found their work full of meaning and purpose, and 75% of respondents said their work is connected to what they think is important in life.

.); Few would argue with the premise that full-time employees should be able to support themselves, if not their households, on what they earn in 40 hours a week at their main jobs.

But full buy-in to the value proposition is not there yet, with most in “wait and see” mode rather than being early adopters.

This past summer, BARR Advisory, a boutique cybersecurity consulting firm with about 120 full-time employees and contractors, is starting with a pilot program after deciding to upgrade an existing, informal mentorship upskilling program to a more formal process with specific metrics to evaluate success.