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Rewarding a Multigenerational Workforce: A Survey of WorldatWork Members, September 2008

14 pages. Excerpt: For the first time, WorldatWork conducted a survey to gather information about how employers are approaching the challenge of rewarding a multigenerational workforce. The goal was to increase understanding about the relationship between reward practices and generational issues, as well as identify best practices for rewarding multigenerational workforces.

How Work, Rewards and Benefits Have Evolved Over the Past Century (PDF)

14 pages. "By exploring key forces of change, and through the lens of [Buck's] own history, this paper will show how the present-day employer-employee relationship has evolved, what lessons were learned that built the workforce of the 21 st century, what challenges are looming, and how some employers, including Buck, are responding to them. Call it the new social contract for the still-new century."

Tips for a Successful Open Enrollment

"[Y]our strategy needs to involve sending bite-size chunks of information throughout the year.... [W]ith advancements in technology, print and digital pieces take on many different forms.... Write your titles in ways that capture [employees'] attention and provide information using minimal words.... Take out the jargon ... Have fun with themes ... Ask for feedback."

Survey Results: Total Rewards Programs and Practices

71 pages. "This report presents the results of an August 2016 survey ... to measure the use of total rewards programs in U.S., Canadian and international companies. The survey focused on the prevalence of 176 different total rewards programs and practices in today's workplace. This report is a robust resource for those benchmarking organizational use of total rewards programs and practices.... Data is reported in aggregate with breakdowns by major industry, sector and size, as well as regrettable turnover and self-reported employee engagement survey results."

Paid Time Off (PTO) Programs and Practices

42 pages. "88% of organizations believe it is necessary to offer some type of paid time off program to be competitive in the labor market.... On average, organizations offer 10 to 22 days of vacation time and seven to 11 days of sick leave annually.... The structure of these programs with extensive rules applied to their use may not meet the needs of individual employees. 26% of organizations are considering rolling various types of leave together to offer employees a PTO bank-type system that they can use for a variety of needs."

Will Phased Retirement Programs Make a Comeback?

"As expected retirement ages are rising, the definition of retirement is no longer viewed as a single event that occurs after an individual leaves their career job and goes off into the sunset. Rather, it is often now seen as more of a gradual transition from full-time employment to full-time retirement. This approach to retirement has evolved over the years as workforce demographics, technology, and approaches to workplace flexibility have created an opportunity to redefine the retirement process to meet both employer and employee needs."

Total Rewards and Employee Well-Being Practices

"Ninety-six percent of organizations support well-being components ... and 90% of their active employees, on average, are eligible. Nearly three-quarters (74%) of organizations are increasing or considerably increasing their well-being offerings in the next two years ... with the objectives of impacting health-care costs and increasing productivity as the top reasons for the increase.... [M]ost employers would retain their well-being offerings even if they were to stop offering employer-sponsored health-care."

96% of Organizations Support Employee Well-Being Initiatives to Promote Healthy Living and Curb Rising Health-Care Costs

"If employer-sponsored health care [were] eliminated, 95% of responding organizations say they would keep workplace safety programs, 92% would continue to encourage time away from work and flexible schedules, and 90% would preserve their Employee Assistance Programs."

Why You Need a Holistic View of Pay and Performance

"To ensure an effective pay strategy, the creation of value needs to be viewed from quantitative and qualitative perspectives, over multiple timeframes, and in light of short- and long-term outcomes."

Retention of Key Talent and the Role of Rewards

"[T]he foremost challenge for management today is how to retain its key talent. Turnover is costly and directly impacts business performance, particularly during an economic recovery.... [R]ewards professionals will be under increased pressure to make counteroffers, increase new-hire offers, make more frequent exceptions to rewards policies and programs, and offer special deals to retain key employees.... [The authors] surveyed rewards professionals to learn what strategies they are using to retain key talent and to learn how effectively these strategies are working."