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.
The following programs were reportedly offered at statistically significant higher rates in 2019 over 2018.
|
|
2018 |
2019 |
|---|---|---|
|
Employee scholarships/student aid/loans |
10% |
26% |
|
Major family event celebration |
27% |
38% |
|
Annualized hours |
8% |
15% |
|
Diversity/inclusion initiatives |
58% |
65% |
|
Adoption reimbursement |
20% |
26% |
|
College scholarships for employees’ children |
20% |
26% |
|
On-site fitness center |
52% |
58% |
|
Appreciation luncheons, outings, formal events |
76% |
81% |
|
Immunization clinics or promotions |
79% |
84% |
|
Multigenerational initiatives |
19% |
24% |
|
Paid parental leave |
52% |
57% |
|
Leadership training |
84% |
88% |
|
Self-development tools |
80% |
84% |
“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.”
WorldatWork collected survey data for the Inventory of Total Rewards Programs & Practices Results in August 2019. The survey report was based on 701 responses. The demographics of the survey sample and the respondents are similar to the WorldatWork membership as a whole. The typical WorldatWork member works at the managerial level or higher in the headquarters of a large company in North America.
Source: WorldatWork