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Building the Right Compensation Package In addition to the standard salary and performance bonuses, Canavan said the building blocks should be: retention incentives, which organizations can address through real or “phantom equity” (a type of compensation award that references equity, but does not entitle the recipient to actual ownership in a company); a long-term cash bonus plan; or split-dollar life plan, which allows the sharing of the cost of a premium for a permanent life insurance policy.

When it comes to compensation, he said, AI can help organizations analyze objective data — such as job type, level and time-in-role — to ensure salary decisions are made in an apples-to-apples manner, where appropriate, across teams.

;Define various types of disruptions.

“For this type of information to be most valuable to employees, it needs to be quite close to real-time so that insurance information can be updated and accumulators can be applied accurately,” Midlam said.

Each of the three main types of LTI vehicles has benefits and drawbacks that should be carefully evaluated: ;Appreciation awards.

Nearly 3 in 4 surveyed organizations reported their total payroll expenses (which include salaries, bonuses, variable pay and benefit costs) were higher than last year.; A new research report found employers are taking a semi-cautious approach to their salary budgets for the current year, following a pattern from the recent past .

“Advocacy companies are also a good resource for lean benefits teams as an adjunct support for employees.” 3.

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The top three reasons why you should engage with your local affiliate: 1) exchange of ideas and experiences with colleagues in your area, 2) strengthen your expertise in seminars, training and events held near you, and 3) further develop your career through new professional connections.

Just 5% said they report to a worksite located in a different province and fewer than 3% reported to an office or worksite located in a different country.