Total reward prevalence in US companies

WorldatWork, in conjunction with Compdata Surveys and Consulting, has undertaken its most comprehensive survey yet on the prevalence of different reward programmes in US firms, covering everything from near-universal aspects of reward such as defined contribution pension plans to new boutique financial wellness ideas such as student loan debt repayment schemes (operated by just 4% of US firms).

The categories covered include workplace flexibility, financial wellness, culture initiatives and community involvement, caring for dependents, development opportunities and health and wellness programmes. For example, the research shows

• 80% of all employers offer an employee assistance programme
• 73% smoking cessation support
• 57% nutritional counselling (either on site or covered by the medical plan)
• Virtually all employers offer bereavement leave but only 8% provide paid sabbaticals and less than half provide paid parental leave.

Greg Wolf, managing director of Compdata, said:

'The current workplace landscape is competitive, and it is more important than ever for employers to develop total rewards packages that attract high-quality candidates and drive employee satisfaction and engagement. An understanding of current market trends is the baseline HR professionals need to develop the right combination of total rewards to satisfy their organisations’ needs.’

This report presents the result of an August 2016 survey of WorldatWork members, resulting in a final dataset of 730 responses.

‘Inventory of total rewards programs and practices: A report by WorldatWork, Underwritten by Compdata Surveys and Consulting’, January 2017, www.worldatwork.org/adimLink?id=81143