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;Simplification: Get your sales comp plan design right and then simplify and tighten your process first.

“Some organizations find that their DEI commitments were not designed with robust evidence-based practices to support their programs,” she said.

In order to meet the filing deadline — which is only three months away — her advice is to “designate an individual or team now to gather the information needed to ensure your reports are filed in a timely manner.”

For WorldatWork Members Helping Employees Secure Their Retirement Future , Journal of Total Rewards article;Retirement Booster , Workspan Magazine article;Revisiting Retirement Benefits , Workspan Magazine article;Your Retirement Plan May Be Fostering Inequity: Here’s How to Fix It , Workspan Magazine article; For Everyone The Critical Role of Retirement Income Projections in DC Plans , Workspan Daily article;ERISA at 50: The Evolution of Retirement Benefits , Workspan Daily article;Employers: Urge Workers to Consider HSAs as a Retirement Tool , Workspan Daily article;Retirement Plans — Design Considerations & Administration , course; While the dual certainties of death and taxes have long prompted universal dread, most American workers now fear something as even more grave than the grave: retirement.

Try Flexible Options and Rewards , Workspan Magazine article; ;Checklist: Questions and Resources to Prep Employees for Retirement , Workspan Daily Plus+ article; ;How TR Pros Can Help Workers Financially Prepare for Retirement , Workspan Daily Plus+ article; ;FAQs to Help You Navigate Employee Retirement Discussions , Workspan Daily Plus+ article; For Everyone ;More Fine-Tuning Ahead for Part-Timer Rules Under SECURE 2.0 , Workspan Daily article; ;SECURE 2.0 Corrections Act Holdup Leaves Employers Feeling Insecure , Workspan Daily article; ;Retirement Plans — Design Considerations & Administration , course; Enacted on Dec. 29, 2022, the SECURE 2.0 Act was meant to encourage more American workers to save for retirement, but the rollout has been somewhat slowed by its complexity and necessary updates.

“When designed well, skills become the engine behind organizational agility, business performance, workforce engagement and employee retention,” Stella said.

The Affordable Care Act (ACA) was designed to build on the employer-sponsored system.

The Importance of Implementation Korn Ferry’s McMullen and Reidy suggest: Developing base salary increase budgets based on the cost of labor in comparator markets vs. cost of living/inflation;Considering the magnitude, eligibility and management of off-cycle increases, including promotions, counteroffers, pay equity adjustments, hot-skills adjustments, and in-band lateral adjustments;Utilizing the entire compensation tool kit, including sign-on, retention, referral and project bonuses, to attract, engage and retain key talent;Using highly leveraged nonfinancial rewards such as career development, organization transformation initiatives, recognition and providing meaningful work; “We typically see the best rewards programs being the ones that are more effectively implemented as opposed to those with an elegant strategy and design,” McMullen and Reidy wrote.

Companies that handled it best took a number of steps, such as: Defining a cross-functional and cross-geo steering committee to assess and design sales compensation changes;;Investing in digital capabilities to better administer, communicate and implement their sales compensation plans;;Simplifying their compensation plans by eliminating measures and mechanics; and;Improving the alignment of their sales compensation plans to overall business strategy (including changes in strategy), from a data-driven perspective, as opposed to relying purely on philosophy and “gut” beliefs.; Workspan: The pandemic has obviously affected the way companies and leaders approach sales compensation.

Gavin Newsom signed legislation designed to establish new wage and workplace protections to improve working conditions and support the health and safety of more than 500,000 of the state’s fast-food workers.