November 12, 2019 — Scottsdale, Ariz. – Employers continue to expand their Total Rewards offerings to attract, engage and retain top performing employees. Not surprisingly, given societal and media focus on student debt and pay equity, education assistance programs (26% in 2019 vs. 10% in 2018) and diversity and inclusion initiatives (65% in 2019 vs. 58% in 2018) increased year-over-year. The annual survey continues to evolve as employee expectations and the workplace change; this year, questions related to salary specifics (e.g., market-based adjustments (not COLA); well-being (e.g., workplace sleep programs, fitness-related subsidies); redirected PTO (e.g., to 401(k)s or college savings); and development opportunities, among others, were added. (Journalists: for a copy of the survey report, contact firstname.lastname@example.org.)
“The breadth of Total Rewards has become increasingly diverse and expansive, in ways that would astonish workers from previous generations,” said Scott Cawood, president & CEO, WorldatWork. “In this tight job market where competition to recruit top talent across all levels is fierce, organizations are responding to the changing needs and desires of the workforce with a multitude of Total Rewards options. For example, with pay equity a hot button issue, diversity and inclusion initiatives to help address pay gaps are becoming more prevalent.”
Categories captured in the survey include health/welfare, PTO, retirement, base pay, bonuses/commissions, short- and long-term incentives, performance management, recognition, development opportunities, caring for dependents, cultural initiatives/community involvement, financial wellness, and workplace flexibility.
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