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Companies outpacing their industry in both revenue growth (+9%) and earnings before interest, taxes, depreciation and amortization (EBITDA) margin (+12%) complement their “talent brand” strengths with differentiators targeted to commercial execution.

Programs such as mixed-age teaming, mentoring and job shadowing help older workers feel engaged and connected to younger associates while allowing the latter group to soak up the some of the former’s wisdom and institutional knowledge about the market, industry and navigating the company internally.

You likely will need to spend money on industry market surveys.

For WorldatWork Members Salary Data Center , tool;Salary Benchmarking , tool;Compensation Structure Policies and Practices , research;Why It’s Time for a Compensation Philosophy Refresh , Workspan Magazine article; For Everyone How An Industry Leader Sees Technology Transforming Total Rewards , Workspan Daily article;Benchmark Gaps: Staying Market-Driven When Comp Data Is Missing , Workspan Daily article;The Five Goals of a Strong Compensation Structure , Workspan Daily article;How to Measure the Success of Your Annual Compensation Cycle , Workspan Daily article;Navigating the Architecture and Benchmarking Challenges of Hybrid Jobs , Workspan Daily article; The days of big Excel spreadsheets to manage market pricing jobs are in the rearview mirror for those in the total rewards profession (or, at least, they should be).

But as peers across industries elevate their rewards approach, the question becomes: How will we stand out?

Attracting a Bigger Pool of Applicants and Retaining More Employees with Valued Benefits Employers may find that certain benefits must be introduced to keep up with industry norms.

Industries are in transition, organizations are pursuing major transformation and there is widespread attention on environmental, social and governance (ESG) centered strategies.

The new approach has helped Lego renew growth, with annual revenues increasing an average of 10% over the past five years (compared with 3% for Disney, Mattel, and Hasbro, MIT Sloan reported) while maintaining industry-leading profits.

It can also help with monitoring and analyzing industry trends and regulatory changes.

In each issue of Workspan, we grab some time with total rewards leaders, industry authorities, consultants and academics to get their insights on current workforce topics that are top-of-mind for them — and you.