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As a result, some elements are underestimated or ignored, such as pensions, benefits and share awards, which are a much higher proportion of senior employees’ total rewards.

Nancy Romanyshyn, senior director of total rewards strategy and solutions at Syndio, said clear communication around pay practices is expected and still a work in progress for organizations.

WorldatWork’s “ Total Rewards Inventory Programs and Practices ” survey found 56% of employers offered paid sick leave in 2021, while 42% offered paid medical or caregiver leave and 66% offered paid parental leave.

“To prepare for those talks, employers need to be ready to share how factors like budget and performance can impact an employee’s pay, as well as how their benefits and other perks contribute to their total compensation.

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A total of 1,064 responses were received, representing organizations of different sizes and across multiple industries.

A total of 656 responses were received, representing organizations of different sizes and across multiple industries.

“We also know that organizations are taking a broad approach to funding their increase in total compensation spend,” Jennings said, noting that 43% of survey respondents indicated they will fund through total rewards optimization, pointing to an approach that considers other factors beyond pay, such as well-being and benefits.