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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.

Employees who wish to not comply with the workplace changes have until Feb. 6 to reply to the email by typing the word “Resign” into the subject line.

Projection at 3.8%; ;2023 survey report: Employers Budgeting 4.1% Pay Raises in 2024; ;2022 survey report: Salary Increase Budgets Reach 20-Year High; ;2021 survey report (member only): Salary Increase Budgets Poised to Rebound in 2022; A Glimpse at Worker Type Breaking down the data by employee classification, the WorldatWork survey showed generally the same trend lines for hourly and salaried workers.

“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.

;Types of jobs: Job matches must be “apples to apples.”

Table 2 highlights the key challenges of SBP in the traditional manufacturing era, using the USSR as an example, versus the AI-powered era, demonstrating how AI has reshaped workforce planning, compensation strategies and employee engagement.

“Companies and organizations that rely on independent workers are wise to consider the reasons why people are attracted to this type of work and to recognize the growing availability of flexible work in permanent employment.