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The core consideration here, Turba said, is not where to reinvest perceived “savings” that come from removing a budget allocation that may include training programs, salaries or development programs — it’s to evaluate both the short-term and long-term impact of a shifted strategy.

.;50% of Millennials and 53% of Gen Zs believe that discrimination based on someone’s mental health frequently happens in the workplace (Deloitte 2021a).;46% of companies still don’t proactively share their mental health resources with employees, creating a gap in information and support for those who require care (Greenwood and Koll 2020).

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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 ;Finance and Budgeting ;Equitable and Diverse Workplaces; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

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: Equitable and Diverse Workplaces;Finance and Budgeting ;Employee Compensation ; FREE Newsletter FREE E-newsletter Subscribe to Workspan Weekly for news on trends and compliance in Total Rewards, compensation and benefits.

Schedule it ahead of budget season so insights can shape the plan.

This alignment ensures decisions balance budget realities, market demands and people priorities.

Likewise, Workleap’s takeover of Barley, a young compensation cycle management tool, brought Barley’s user-friendly pay budgeting software into Workleap’s performance management platform.

Labor costs are the largest portion of the operating budget in most organizations—which means Total Rewards professionals influence bottom line results in an important way.