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To rekindle enthusiasm and engage employees, organizational leaders are facing the challenge of executing meaningful virtual socialization to maintain culture, camaraderie and inclusion for their workforce.

Wrongful-termination lawsuits could soon follow as a result of the change but organizations that executed mandates in a uniform manner are less at risk.

A recent research report by caregiving provider Helpr found that lack of access to family care benefits annually contributes to an estimated $1 trillion in costs associated with voluntary turnover, while employees’ care, if compensated, would add up to another $1 trillion each year.

In addition, Mason said over 80% of organizations in Mercer’s “ 2022 US Compensation Planning Survey (August edition) ” reported that they were maintaining their one-time annual compensation cycle.

;Convergys Convergys, an HR service agency specializing in compensation and benefits administration, faced high employee attrition.

In a previous Chartered Institute of Personnel and Development (CIPD) review, we took a broad look at the behavioral science of rewards (CIPD 2015) and we have also published various reports on the drivers and problems of excessive executive pay (CIPD n.d.).

“Organizations must not only adjust the compensation of those who are victims of pay discrimination but also dig into the root causes of the issues to completely solve the problem,” she wrote in a recent article on the topic of career equity .

Conceptually, we can break the raw pay gap down into two components: The “explained” pay gap, which indicates the extent to which pay differs across demographic groups due to relevant differences in compensable factors, such as occupation, role, education and experience.

Compensation is just one of many elements that make up a company’s total rewards package.