JANUARY 2023 • Vol. 10 • No.

01
(ISSN 2564-1972)

TOTAL REWARDS
HOLDS AN
EXCITING ROLE
IN THE FUTURE
OF WORK
- Jesse Meschuk,
Senior Advisor, Exequity

Themed
Edition on

The Future of
Compensation and
Total Rewards

The Future of
Compensation and
Total Rewards 2022-23 Page 15 - 40

Sponsored by
 Talent Management Excellence
INDEX JANUARY 2023 Vol.10 No.01
(ISSN 2564-1972)

Themed
Edition on
07
Total Rewards Holds An
Exciting Role In The Future
The Future of
Compensation and
Total Rewards
Of Work
3 trends and resulting implications
for the total rewards profession

On the Cover - Jesse Meschuk,

Senior Advisor, Exequity

45 Everyone’s Talking About Problems In The

Articles
13 2023 Technology And Workplace
Predictions
4 trends to play out in 2023, all of which
might just defy conventional wisdom
- Jeetu Patel, Executive Vice President and
General Manager, Cisco
Workforce, But No One’s Discussing The
Solution That’s Right In Front Of Us
The far-reaching advantages of flexible work
- Kevin Akeroyd, Chief Executive Officer, Magnit
49 10 Reasons Why Focusing On Equality Is
Crucial In 2023
Change the trajectory for the working year ahead
- Thom Dennis, CEO, Serenity in Leadership
57 HR Memo To Professionals: Build A
Professional Network
3 ways HR managers can describe how a
professional network can be an essential help
- Shawn Herrera, Director, Corporate Relations,
Pepperdine Graziadio Business School

The Future of Compensation and

Total Rewards 2022-23

Page 15 - 40
Top Picks INDEX
10
4 Emerging Compensation Trends
Talent Leaders Can’t Afford To Ignore
In 2023, talent leaders will take on a greater
role in understanding and shaping
compensation strategies
- Jafar Owainati, Co-founder and CEO, Barley

42
On-Demand Pay Benefits
All Income Levels
Helping employees work toward
financial wellness should be top
of mind for HR professionals
- Brian Brinkley, CEO, QRails

47
Three Reasons Why CFOs Must
Focus On People In 2023
Companies need to plan ahead and
invest wisely in their people
- Ian Cook, Speaker, Executive Leader, Visier

54
Workers’ Comp For Digital
Nomads
Are you legally required to
provide workers’ comp coverage
for digital nomads?
- Craig Shapiro, Vice President,
Product & Underwriting, Cerity
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(ISSN 2564-1972)
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Supercharge Your Compensation and Total Reward
Strategies for 2023
T he last three years have significantly shifted
workforce expectations and employee-em-
ployer relationships. As per experts, the next
10 years may bring more change and evolution
than the last several decades. Understanding and
addressing employee needs can help enhance
your employee experience and limit unhealthy
turnover. Although factors such as work-life
balance are important, poor compensation and
total rewards offerings may nudge a current
employee to leave and prospective employees to
pass on an organization.
While a well-designed compensation and
rewards system can improve employee
engagement, satisfaction, and productivity,
poorly designed systems can result in dissatis-
faction and complaints of unfairness and loss
of morale. To learn more about the current
and future state of compensation and rewards
and their effect on employee retention, the
HR Research Institute recently conducted a
study, The Future of Compensation and Total
Rewards 2022-23. Check out the research
summary of findings and download the complete
report below to gain insights into the current and
future state of HR.
Keeping compensation and total rewards
strategies up to date is important, and many are
redesigning their programs. Total rewards have
a much more strategic function today compared
to their original “payroll” roots, and are charged
with helping drive the attraction and retention of
talent. Exequity’s Jesse Meschuk in his article,
Total Rewards Holds An Exciting Role In The
Future of Work, shares 3 trends and resulting
implications for the total rewards sector.
In 2023, talent leaders will take on a greater
role in understanding and shaping compensation
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EDITOR’S NOTE
Babitha Balakrishnan
Editor, Talent Management
Excellence
strategies, according to Barley's Jafar Owainati.
In his article, 4 Emerging Compensation Trends
Talent Leaders Can’t Afford To Ignore, Jafar
shares why talent leaders need to be proactive
about leveling up their compensation knowledge
to meet the changing expectations of candidates
and the strategic goals of the business.
In today’s on-demand society, the manner and
frequency in which people are paid have not
kept up with the times. This is something HR
should strongly consider exploring and updating,
as upgrading to a more flexible payroll process
not only helps employees’ financial health
but helps employers attract and retain the best
talent. In his article, On-Demand Pay Benefits
All Income Levels, QRails' Brian Brinkley
discusses why helping employees work toward
financial wellness should be top of mind for
HR professionals.
In brief, having a comprehensive and
attractive compensation and benefits package
is vital to keeping your workforce motivated.
Organizations must implement innovative
strategies to give their current compensation
and benefits packages a major overhaul to stay
competitive in 2023.
We hope you find the articles in this issue
informative and helpful and, as always,
we welcome your valuable feedback and
suggestions.
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 COVER STORY

Total Rewards Holds

An Exciting Role In
The Future Of Work
3 trends and resulting implications
for the total rewards profession

By Jesse Meschuk, Exequity

T otal rewards has a much

more strategic function
today compared to its original
“payroll” roots, charged with
helping drive the attraction
and retention of talent through
effective and efficient delivery
of cash compensation,
incentives, benefits, and
recognition programs.

Technology and capability

improvements already underway
suggest the next 10 years may
bring more change and evolution
than the last several decades.
Here are three trends and
resulting implications for the total
rewards profession:
employees. More states and compensation data will continue. At
1. Pay Transparency and regions (including the entire no point in history has a potential
Pay Equity European Union) will begin or current employee had more
enacting similar laws.   insight into the “market rate” for
On January 1, California joined
their compensation, which will, in
New York City, Colorado, Seattle
Additionally, the trend of turn, shift more power to employees
and many other governments in
employees and other stakeholders and create more pressure to provide
the escalating trend of bringing
(e.g., such as LinkedIn, Glassdoor, equitable compensation for similar
further transparency to salary
and salary.com) allowing roles and responsibilities. 
ranges for candidates and
self-reporting and aggregation of

Talent Management Excellence presented by HR.com JANUARY 2023 7 Submit Your Articles
 Total Rewards Holds An Exciting Role In The Future Of Work
Implications:  evaluation practices and
●● A need for more insight
and consultative guidance
to establish and utilize
compensation ranges, how
to communicate how those
ranges were developed, and
the philosophy behind the
structure. Communication
skills, change management,
and other traditionally
soft skills will become
increasingly important in
total rewards.
●● How to better “value”
each individual’s unique
contribution will need to be
more effectively captured
and incorporated into the
compensation approach.
Tools will emerge and
provide suggestions, but this
will require the companies
to have a more rigorous
approach to their job
Talent Management Excellence presented by HR.com
force them to think through
which responsibilities and
skills (beyond traditional
“role” definitions) are more
or less valued, given their
particular business strategy.
●● In a world where salary
ranges, bonus targets and
expected equity grants are
transparent, companies
will need to effectively
capture performance and
productivity, and be able
to better explain how that
impacts and differentiates
compensation.  and competencies that
2. Data Analytics
Advanced trends in analytics,
machine learning and AI will
permeate the total rewards
function and help to drive
JANUARY 2023 8 Submit Your Articles
increased innovation. The more
basic “analyst” capabilities
will increasingly be handled by
programming and automated
services, including traditional
benchmarking activities, pay
equity analysis, and job valuation
― all done in real-time.
Implications:
●● These new analytical
capabilities will provide
increased insight for teams
that develop new and
innovative ways to capture
performance, productivity,
can predict potentials
like learning agility and
resilience. The best total
rewards teams will partner
closely with their HRIS and
People Analytics teams to
utilize this information.
 Total Rewards Holds An Exciting Role In The Future Of Work

●● As analytical capabilities
become more and more
sophisticated, total rewards
teams will increasingly be
asked by business teams
for advice on better, more
objective ways to measure
and analyze performance.  individuals to take on additional,
This means, methods
traditionally observed by
scientific research teams
will increasingly find their
way into total rewards.
●● As the focus for total
rewards shifts from the
analyst function into the
research arena, increasingly,
those with skills in data
science, behavioral science,
and game theory will be in
more demand.
3. Personalization  Implications:
First, flexible and remote work
(at least in knowledge roles) will
demand strategies relevant to
the location in which individuals
●● Given the sheer number
work. Second, as the economic
downturn continues to take hold,
companies will be looking to
new, or combined responsibil-
ities which will require a more
customized way to reward
them. Third, the make-up of the
workforce continues to shift from
one in which a regular, long-term
employee is the norm to one
in which a myriad of models
exist: regular full-time, part-time
(including returning retirees,
those who just don’t want to
work 40 hours for home life or
other reasons), contract workers,
consultants, or “gig” workers.   degree to help employees to
ensure offerings are market-
competitive in the various
locations people work.
of variations in each
employee’s circumstances
(location, responsibilities,
employee status, family
dynamics, etc), companies
will increasingly be providing
employees choices with
regard to their compensation
and benefits approach:
the degree of risk in their
compensation scheme, the
focus of benefits spend,
and the relative mix of fixed,
variable, cash, non-cash,
and non-financial rewards
may all vary to a certain
manage their own rewards
profile effectively.

A number of converging trends ●● Compensation and benefits

suggest the future of both strategies will need to adapt This presents an exciting, dynamic
compensation structures to properly capture each time for the total rewards field,
and benefits programs will of the different employee which may help shape the future
be personalized based on an segments and deliver on
of work for a number of years to
individual’s needs, circumstances their needs.
come.  
and responsibilities.   ●● A localized, personalized
strategy will be needed to

Jesse Meschuk is a career and human resources expert, and a Senior Advisor with Exequity. Jesse
has more than 20 years of consulting and human resources experience and has worked across
various industries including technology, entertainment, gaming, retail, hospitality, manufacturing, and
sports. Jesse’s work has spanned the Americas, Europe and Asia. 

Would you like to comment?

Talent Management Excellence presented by HR.com JANUARY 2023 9 Submit Your Articles
 TOP PICK

4 Emerging
Compensation Trends
Talent Leaders Can’t
Afford To Ignore
In 2023, talent leaders will take on
a greater role in understanding and
shaping compensation strategies

By Jafar Owainati, Barley

about flexibility and benefits. At the same time, WTW

predicts U.S. salary increases will rise to 4.6% in
2023, up from 4.2% in 2022 and the largest increase
in approximately 20 years, as companies grapple with
mixed economic signals and wage pressures.

With so much uncertainty in the job market, talent

leaders need to be proactive about leveling up their
compensation knowledge to meet the changing
expectations of candidates and the strategic goals of
the business. By getting in front of the following four
trends in the world of compensation, talent leaders
can better position themselves and their organizations
for success.

A s we enter 2023, economic instability and 1. Pay transparency creates the need for
shifts in the job market, combined with new pay more nuanced compensation discussions
transparency legislation, will make it more important Pay transparency legislation will significantly
than ever for talent leaders to think strategically about impact the way talent acquisition teams talk about
compensation.  compensation. New laws requiring companies to
disclose salary ranges on job postings have already
Candidates are more educated about compensation, come into effect in states like New York and California
especially in a world where pay transparency is top of and are setting the stage for more pay transparency
mind and remote workers have different expectations across North America.

Talent Management Excellence presented by HR.com JANUARY 2023 10 Submit Your Articles
 4 Emerging Compensation Trends Talent Leaders Can’t Afford To Ignore
One of the key challenges is that the salary ranges
shared on job postings are often very wide. There can
be good reasons for this. For example, a company
may be open to hiring at the junior or intermediate
level for a given role, so the posted salary range
actually reflects two internal ranges combined.
Another reason could be that salary ranges tend to get
wider as the position gets more senior. Companies
may also be posting wide ranges thinking that
this approach avoids having jobseekers disqualify
themselves before even applying based on the
salary alone. But all of this can lead to confusion
for candidates who will immediately have questions
about why the ranges are so broad and what criteria
determine their actual offer.
In practice, the rise of pay transparency legislation
means talent leaders need to prepare their teams to
have more nuanced compensation conversations
with candidates. Since candidates will already know
the salary range going in, talent acquisition must
become fluent in explaining their organization’s
compensation philosophy, particularly the factors
taken into consideration when making an offer. By
clearly explaining the nuances of compensation to
candidates, talent teams can build trust early in the
hiring process, creating a great candidate experience
that ultimately improves the likelihood of winning top
talent.  plans. An EVP summarizes the unique set of
2. Talent teams play a bigger role in
helping HR make better compensation
decisions
Talent teams have a real-time view of how the job
market is shifting, which is a perspective that no one
else in the company has. One powerful trend for 2023
is that talent leaders are finding ways to share their
perspectives on compensation, backed up by data,
with their HR and executive teams.
One way they are going about this is by collecting,
aggregating and sharing salary expectations from
the candidates they’re interviewing. By gathering
this information and looking at it in aggregate for
a particular role or region, it’s possible to better
understand what candidates are expecting to earn
Talent Management Excellence presented by HR.com JANUARY 2023
and how those expectations compare to a company’s
salary ranges. This can be particularly useful when
interviewing a range of candidates with different
salary histories and perspectives, such as those who
have been laid off from larger tech companies and are
now applying to smaller startups. 
This data can help HR and executive teams make
more informed decisions about how to structure
compensation packages to be competitive and land
top candidates in a rapidly changing job market.
3. Benefits, equity, and perks become
crucial differentiators at the offer stage 
As the cost-of-living creeps upward, many
organizations are facing the challenge that
salaries are not keeping up with inflation. In these
circumstances, it becomes increasingly important for
talent teams to help candidates understand the full
value of their total rewards package and employer
value proposition (EVP).
While salary is an important component, it is far from
being the only motivation for a candidate to accept a
job offer. Total rewards refer to the complete package
of compensation and benefits that a company offers,
including bonuses, health insurance and other perks.
It also includes equity, stock options and profit-sharing
opportunities an organization offers to its employees,
such as its culture, values and work environment.
Candidates are often focused on base salary, and
don’t realize the value of the equity being offered, the
opportunities for growth and all the other components
that boost the total compensation of an offer.
Talent leaders who are skilled at selling the story of
the unique benefits of their organization will have an
advantage in attracting top talent, even if the salary
may not be as high as other offers. By highlighting the
full value of the company’s total rewards package and
EVP, talent leaders can help candidates understand
the complete picture of what your organization has
to offer.
11 Submit Your Articles
 4 Emerging Compensation Trends Talent Leaders Can’t Afford To Ignore

4. More companies making

non-negotiable job offers
There is a growing trend in the world of compensation
towards non-negotiable job offers: offering a
competitive salary and benefits package that cannot
be negotiated by the candidate. This approach can
have a positive impact on a company’s pay equity
and pay transparency, but it can also be challenging
for talent leaders to navigate in a world where salary
negotiations and competing job offers are the norms.  

At the heart of this movement is an increased focus

on internal equity, which is the concept of keeping
pay fair and consistent within an organization.
Research shows that systemic bias prevents women
and people of color from negotiating job offers as
often or as successfully as white men, so pay gaps
are often created at the offer stage. With rising
inflation and a competitive job market, new job
offers are often higher than the internal salaries
for the same role. Also, with new pay transparency
legislation, employees have visibility into the salary
range being offered for jobs similar to theirs at your
company and at others. All of these forces put a new
focus on the importance of making sure that pay is
structured consistently.
Non-negotiable job offers are one solution that is
currently gaining traction. However, for cases where
this strategy isn’t practical, there are other ways to
improve internal equity, such as building a strong
framework for formulating initial offers and creating
guardrails to make sure salary negotiations do not
exceed a set salary range. 
As 2023 unfolds, talent leaders will take on a greater
role in understanding and shaping compensation
strategies. Getting ahead of these four trends will
make them better positioned to win candidates, keep
their top performers, and serve as strategic partners
to the rest of the HR and executive teams.

Jafar Owainati is the Co-founder and CEO of Barley, a compensation management software that
makes it easy to structure, analyze, and manage pay - and keep a pulse on changing salary trends
in the market. In the CEO role, Jafar is responsible for driving the company’s overall direction and
strategic growth, as well as overseeing day-to-day operations

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Talent Management Excellence presented by HR.com JANUARY 2023 12 Submit Your Articles
2023 Technology And
Workplace Predictions
4 trends to play out in 2023, all of which
might just defy conventional wisdom

By Jeetu Patel, Cisco

P redicting the unexpected is

a tricky business. Especially
in technology and business,
Beyond the Age of
Malware: From Detection
consisting of modular malware).
The next evolution of security
is about sensing anomalies and
to Prediction 
where constant change and behavior patterns, which will aid
In 2023, we will move beyond the
disruption are a given. But that in predicting a breach. Advances
age of simple malware because
won’t stop me. So, here are four in AI and machine learning will
just detecting malicious code
trends that I expect to play out in make this possible, and smart
won’t be enough to combat the
2023—all of which might just defy organizations will get ahead of
sophistication of current threat
conventional wisdom.  this trend.
actors (who use modern ‘toolkits’

Talent Management Excellence presented by HR.com JANUARY 2023 13 Submit Your Articles
 2023 Technology And Workplace Predictions
The Next Critical
Influencer for Technology
Purchases? Human
Resources  mandates in 2023, but they’ll
Hybrid work has changed so many
dynamics within an organization,
including buying patterns. Human
resources (HR) has traditionally
focused on work-related software
like Workday, but with hybrid
work so essential to productivity
and worker satisfaction, HR will
continue to get more involved in
technology software influencing.
In 2023, look for HR to expand
its knowledge of and influence
in all kinds of technology and
software purchases.
Choice Over Mandates
Will Matter More Than We
Think  pretty much stuck to relatively rote
Another disruption to hybrid work
will be the countless employees
who will not want to go back to
Talent Management Excellence presented by HR.com
rigid, in-office work schedules.
Many organizations may choose
to double-down on workplace
ultimately lose. Progressive
companies will create a flexible,
secure hybrid-work experience
and a great physical workspace
— that people will want to visit,
but only when they choose to
or the work calls for it. Such
organizations will win on talent,
agility, sustainability, and worker
satisfaction and see long-term
success.   
An Uptick of
Technological and
Ethical Dilemmas with
Transformative AI  Product Officer (CPO) and Chief
AI and machine learning have
(but helpful!) tasks. We’ve already
seen mind-blowing capabilities
from DALL-E, for example, and
JANUARY 2023 14
in 2023, there’s no doubt even
more truly transformative AI use
cases will emerge. The next era
of AI, and the use cases that
follow, will have big implications
in 2023 and beyond — both
good and bad. As AI continues
to take over important decision
making (such as employee
recruitment or deciding who
gets approved for loans), bias
may become an unfortunate
“side effect” of utilizing such
technology. Additionally, AI will
also enable more advanced
scams, incidents of identity
theft, convincing deep fakes, and
more.  Despite the tremendous
positive impact AI can have, it’s
more critical than ever that the
industry ensures responsible
and ethical use cases, guidelines
are implemented, and, when
appropriate, restrictions win out.   
Jeetu Patel is Cisco’s Executive Vice
President and General Manager of
Security and Collaboration. Jeetu
combines a bold vision, steeped in
product design and development
expertise, operational rigor, and
innate market understanding to
create high-growth Software as a
Service (SaaS) businesses. Prior to
joining Cisco, Jeetu was the Chief
Strategy Officer (CSO) at Box, a role
he pioneered. 
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Submit Your Articles
 Special Research Supplement January 2023

The Future of
Compensation and A deep dive into HR’s

Total Rewards
biggest investment

2022-23
JANUARY 2023
INTERACTIVE

Sponsored by:
INDEX
RESEARCH REPORT SUMMARY

17 The Future of Compensation and Total Rewards 2022-23

Survey conducted by: Sponsored by:

ARTICLES

Attracting and Retaining Why ESAs Are Non-Negotiable in

21 Talent: Four Ways to Set 30 Tough Economic Times
Your Company Apart
By Martina Hopkins and
Sarah Williams

How to Overcome the Rewards Addressing Pay Compression to

25 Visibility Problem 34 Retain Talent
By Sean Luitjens, uflexreward By Robert Sheen, Trusaic

The HR Research Institute, powered by HR.com, the world’s largest social network
for Human Resources professionals, is a key part of our mandate to inform and
educate today’s HR professionals. Over the past three years, the HR Research
Institute has produced more than 85 exclusive primary research and state of the
industry reports, along with corresponding infographics in many cases, based on the
surveys of thousands of HR professionals. Each research report highlights current HR
trends, benchmarks, and industry best practices. HR Research Institute Reports and
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Infographics are available online, and always free, at www.hr.com/featuredresearch
 The Future of Compensation and
Total Rewards 2022-23
A deep dive into HR’s biggest investment
Exclusive Study By The HR Research Institute
C
ompensation and total rewards play an
essential role in attracting, retaining and
motivating staff. However, they are also
difficult to manage because they involve significant
challenges in terms of administration, compliance,
equity, and managing labor expenses.
To learn about the current and future state of
compensation and rewards and their effect
on employee retention, HR.com conducted an
exclusive research study of HR professionals that
looks into what is and isn’t working in this area
and develops insights and takeaways to help HR
improve their programs for the future.
Key Findings
●● Stakeholders agree that keeping
compensation and total rewards strategy
17 RESEARCH REPORT SUMMARY
up-to-date is important, and many are acting
on that belief by focusing on redesigning their
programs.
●● Despite the widely held belief in the
importance of compensation and
total rewards, many systems remain
underdeveloped.
●● Compensation and total rewards are focused
on the core objectives of attracting and
retaining talent.
The Importance of Total Rewards
In most organizations, key stakeholder groups
agree that it is important or very important to
modify their total rewards approach to today’s fast-
changing times.
STATE OF THE INDUSTRY RESEARCH
 Survey Question: For the following groups of stakeholders,
how important is modifying your organization's compensation
and total rewards strategy to fit today's changing times?
(please provide your best estimate)

82% 81%
79%
80 76%
Over 40% of both
talent acquisition
professionals as well
35%
as compensation and
60 42% 41%
benefits professionals
31%
say modifying their
total rewards strategy
is very important 40

47%
20 39% 38%
45%

0
Supervisors Compensation Talent Senior
and and benefits acquisition executives
managers professionals professionals

Important Very important

18 RESEARCH REPORT SUMMARY STATE OF THE INDUSTRY RESEARCH

 The Redesign of Total Rewards
Strategies
Nearly two-thirds of organizations redesigned their total
rewards strategy last year, are doing so now, or plan
to do so next year. This has likely been spurred by the
so-called “great resignation,” the increased demand
for talent, the low unemployment rates, and the rise
in inflation.
The question for organizations will be how often they
need to revisit the reward strategy to keep up with
today’s shifting circumstances. It is possible that many
organizations will find it necessary to redesign their
reward strategy every few years, depending on how
much change they face.
The Challenges Faced by Total Rewards
Despite all the changes in strategies and the fact
that so many stakeholders attach high importance to
total rewards, only a few (7%) respondents describe
their total rewards approach as “advanced.” Moreover,
42% view their organizations as only “beginning” or
“undeveloped” in terms of their total rewards approach.
This means these organizations lack any initiatives
focused on equity or performance. Large organizations
are far less likely than small or mid-sized ones to
have an “undeveloped” or “beginning” approach to
compensation rewards. Only 25% of large organizations
give themselves these low ratings compared to 51% of
mid-sized organizations and 74% of small organizations.

Survey Question: How would you describe your organization's

compensation and total rewards approach? (select the one
that best applies)

Undeveloped: Reactive,
Many organizations fragmented, 12%
(42%) describe the unstandardized approach
sophistication of
their total rewards
as “beginning” or Beginning: Approach that
“undeveloped” structures and standardizes
basic elements such as pay 30%
ranges for positions

Intermediate: Structured
approach that is
performance- and 52%
pay-equity-focused

Advanced: Structured,
agile, equitable,
strategically aligned and 7%
future-focused with a
range of proven rewards
0 10 20 30 40 50 60

19 RESEARCH REPORT SUMMARY STATE OF THE INDUSTRY RESEARCH

 Running a total rewards system has many The Future of Total Rewards
challenges, the most common of which is that
Four out of five respondents believe compensation
their total rewards system is not well understood
and total rewards will become more important over
by employees (cited by 62% of respondents). Other
the next two years. There is widespread agreement
common problems cited by more than 40% of
that compensation and total rewards are becoming
respondents are “not seen as differentiating relative
more important. Many HR professionals (42%)
to competitors,” “not agile and flexible to changing
feel it would become much more important, and
business circumstances,” and “not personalized to
a further 38% feel it would become a little more
individual employee needs.”
important over the next two years. About one
quarter of respondents (24%) say being transparent
The Employee Benefits Component about pay (sharing who is paid what) will be an
Health and well-being benefits are most widely important feature of compensation and total
cited as a way to attract and/or retain key talent. rewards.
Most organizations (73%) offer flexible work
arrangements, and it seems likely that they are
here to stay. The pandemic proved many people
For key takeaways and
could successfully work remotely, and flexible work
recommendations on The Future
options are now the norm in many organizations.
of Compensation and Total
Another potentially pandemic-related benefit is
Rewards 2022-23 study, check
family or personal counseling, which is now offered
out the full report.
by nearly 60% of respondents.

Read the Research Report

20 RESEARCH REPORT SUMMARY STATE OF THE INDUSTRY RESEARCH

Featured Research
Finding and Keeping Talent:
Seven Ways to Set Your Company Apart
By Martina Hopkins and Sarah Williams
Market conditions are rocky for most businesses,
with rising interest rates, persistent inflation,
geopolitical unrest, a looming energy crisis
and an economic slowdown on the horizon.
The labor market is tight, the concept of “quiet
quitting” is real, and it’s tough for employers to
get the talent they need to compete.
We recently asked 450 HR and business leaders
across the US what they expect to be more
challenging for their companies in the year
ahead. For the fourth year, the number one
issue was “attracting dedicated, capable staff,”
followed by “offering competitive compensation
and benefits.” So, if these are also your
challenges, you’re not alone.
In our experience, having competitive
compensation and a robust total rewards
offering will set your company apart and enable
you to attract and retain top-quality talent in this
competitive market. Finding and then keeping
employees is an integral part of a business’s
ability to grow. Replacing employees can cost
the business time, money, and resources if
an employee leaves the company, affecting
profitability, productivity and morale.
84%
of employees say they will
stay with an organization that
supports their benefits needs1
Article 26
21
7 Strategies to Retain Employees
1. Offer a competitive benefits package
2. Provide attractive perks
3. Share in the business’s financial success
4. Career advancement opportunities
5. Give employees meaningful work
6. Recognize high-performers
7. Know why employees stay
1. Offer a competitive benefits package
It’s generally considered a “must have”—you can
hardly expect to hire and retain quality employees
unless you offer a competitive benefits package
that includes health, dental, vision and life
insurance, and perhaps even retirement savings
plans. For example, did you know that 84% of
employees say they will stay with an organization
that supports their benefits needs?1 In another
Paychex study2, our research found that the
number of benefits you offer directly correlates
with employee satisfaction. Even if employees
are not taking advantage of all the benefits
offered, those with access to many benefits (i.e.,
22 to 24) reported they were satisfied with the
benefits. Offering 22 to 24 benefits might seem
like a lot, but you may already be offering perks
that you don’t currently classify as benefits, such
as passes for public transportation, support for
mental health wellness, on-site gym etc. Also, the
ability to set a flexible schedule or telecommute
is a highly valued benefit. Even if employees
1
Paychex Employee Benefits Study, 2020
Featured Research
Article 27
22

Top 5 Reasons employees give for

why they are leaving their company3
For a better compensation
55%
package

To increase opportunities for

41%
career progression

My overall benefits
32%
package is lacking

To increase opportunities to
30%
develop new skills

Training and development

18%
opportunities

have to pay a small amount for the benefits,
having access to the benefit may drive their
satisfaction, such as childcare subsidies.
2. Provide attractive perks
Businesses that see successful employee
retention may be those that acknowledge
employees have lives outside the company.
These employers provide significant workplace
perks such as flexible work schedules,
telecommuting options, reasonable sick
leave policies, and vacation time. More
minor extras can also play a role in employee
retention, including variations on hosting a
complimentary continental breakfast and
an occasional all-staff lunch paid for by the
company. In either of these examples, it may
be beneficial to have management attend and
mingle with employees for greater employee
access to leaders and gain employee feedback
3. Share in the business’s financial success
Since top-performing employees contribute to
the business’s overall success, shouldn’t they
be permitted to share in the financial rewards?
For example, consider rewarding workers with
an annual raise and issuing stock options or
similar rewards. This approach can encourage
employee commitment to your revenue and
profit objectives and a financial incentive to
“stick around” as the business grows.
4. Provide career advancement opportunities
A good employee generally wishes to advance
their career within the company. Limited
internal opportunities may discourage
these employees from staying. Consider
opportunities to promote from within in your
efforts to inspire others on the team to work
towards the same goal.
And when an employee is promoted, make
a big deal in communicating that person’s
success. Additional Paychex research found
that employers undervalue the importance
of clear career opportunities for employee
progression. Forty-one percent of employees
said they are considering leaving their current
company to increase their opportunities for
career progression.
5. Give employees meaningful work
Doing the same things over and over again can
be a workplace morale-buster. Your employees
may appreciate the chance to try something
new and more challenging as part of their
responsibilities. Plus, your business may benefit
from applying their knowledge and experience
to new job duties. Look for opportunities to
challenge your workers wherever you can.

2
6 Things Businesses Get Wrong When It Comes to Attracting and Retaining Talent, 2022
3
Paychex Employee Benefits Study, 2020
Featured Research
Article 28
23

6. Recognize high-performers Turnover can be expensive, time-consuming,

Everyone likes to be recognized for their and stressful. And the process of finding and
contributions, but business owners often keeping talent can take your focus away from
fail to take the time to do so. For example, managing your day-to-day business, ultimately
it can start with a simple “thank you” for a resulting in lost productivity and revenue.
job well done up to publicly acknowledging
an employee’s role in a successful business We can also help you to offer robust, flexible,
initiative. personalized and affordable benefits to set your
company apart in this competitive talent market.
7. Know why employees stay Paychex is here to help.
Most companies conduct exit interviews with
departing employees. So why not occasionally
talk with your most valued workers and find
out why they choose to stay? The answers they
provide—about management styles, working
conditions, maybe even things they’d like to
see improved—can help you refine a more
effective employee retention strategy for the
rest of the workforce.
• • •
At Paychex, in addition to the general HR advice
we provide our clients, our expertise is in helping
companies offer competitive benefits offerings so
they can level the playing field with much larger
companies, even those at Fortune 500 firms.

• • •
Get the Checklist: What to Look for In An
Employee Benefits Provider
Compare your benefits with those from Martina Hopkins is Senior Region
Paychex to ensure you’re putting your Manager with Paychex. With over
best employee experience forward in this 25 years of senior management
competitive talent market. experience in operations leadership,
Martina currently leads a team of 90+
HR Professionals that service over
Are the employee benefits you offer:
5,000 Paychex clients in the Eastern
region of the US. She holds a Masters's
Competitive Simple in Leadership Science from Nova
Southeastern University.
Affordable Customized

Flexible Valued Sarah Williams is Senior Manager, PEO

Download the Checklist
Paving the Way Forward
Is your business at risk of losing good people? Or
are you struggling to attract the talent you need
to hire to fill current and future business needs?
Service with Paychex. Sarah leads the
East region of benefits professionals
to achieve best-in-class service for our
PEO clients and their employees. She
focuses on providing clients the freedom
to succeed through retaining top talent
with our robust benefits offering.
 Make it simple
to find and
keep your
dream team

Finding and keeping talent is one of the top challenges business

leaders expect to face in 2023.1 Replacing an employee can be
expensive, time-consuming, and disruptive to workflows and client
services. Paychex HR can be your secret weapon to attract the people
you need and give your top talent more reasons to stay with more
competitive benefits, training and development, and more.

Get Started

1
2023 Priorities for Business Leaders, Paychex
© 2022 Paychex Inc. All Rights Reserved. www.paychex.com
1628250 | 01/10/23
How to Overcome
the Rewards
Visibility Problem
AUTHOR: SEAN LUITJENS

The result is a lack of visibility into the largest expense

in the organization. But that’s not the only problem.
A lack of visibility also limits the insights HR leaders
can generate from their rewards program — and that
Despite running complex and can directly hamper other initiatives.

generous reward programs, Total rewards directly impact several HR policies,

many enterprises don’t have a says Jill Krumholz, co-owner and managing partner
unified view of their total rewards at RealHR Solutions. That includes recruitment,
strategy. Instead, they suffer performance, recognition and DEI initiatives. Without
a piecemeal landscape where better visibility into total rewards, these initiatives can

different tools and systems are suffer. Leverage a total rewards platform that offers
granular insights, however, and CHROs can carry out
responsible for different rewards.
big-picture leadership initiatives in the following ways.

Copyright ©2022 uFlexReward www.uflexreward.com

Reduce the Pay Gap
and Create a More Equitable Company
A lot of factors or pay policies determine an
employee’s salary, like seniority, education and
location. Yet the extent to which these factors
affect the final salary is often opaque and subject
to interpretation. This leaves the door open for bias
and inconsistent application, which, in turn, creates
unintended pay gaps.
Women and ethnic minorities suffer in particular.
Research collated by Lean In, a global community
to help women advance in the workplace, shows
women in the U.S. earn 20 percent less than men on
average. Black women are paid 38 percent less than
white men and Latinas are paid 47 percent less.
That sees women lose out on more than $400,000
throughout their careers.
Closing the gap is essential to creating a diverse
and equitable workplace. But it’s also good for
your company’s bottom line, says Maya Raghu,
the deputy director of policy at the Office of
Federal Contract Compliance Programs at the U.S.
Department of Labor. Companies lose out on talent
when women feel they are treated unfairly and see
no room for improvement.
Copyright ©2022 uFlexReward
Improving your total rewards visibility can help you
identify and eliminate pay gaps and other forms
of inequality. When you can see the total value
of rewards for employees across the company,
it becomes easy to find discrepancies between
different genders and ethnic groups — even if
salaries are largely the same.
At the same time, the platform that gives you
greater visibility into total rewards can also help
you communicate rewards more effectively to
employees. Giving employees a clear view of
how they are rewarded and, possibly, how that
compares to others in the company, can reassure
employees that they are valued equally.
Better visibility into rewards data also allows
companies to confidently disclose gender pay gap
data — something most companies aren’t doing.
The nonprofit Just Capital found less than one-
quarter of major U.S. companies disclosed whether
they conducted a pay gap analysis, with only 75 of
the 954 companies in the study reporting exact pay
ratios between men and women.
www.uflexreward.com
Identify Unmet
Needs and Increase
Employee Engagement
Are you offering employees all they need in their
rewards package? Even if surveys come back positively,
employees may not be telling your HR team the whole story.
But getting a granular look at the impact and uptake of
rewards in the form of analytics provides a data-backed
view that allows you to optimize your reward strategy for
the benefit of both employees and the company.

Optimizing rewards is particularly vital to win the war on talent. “Getting total rewards right can mean
the difference between competing effectively in the global talent marketplace and being left behind,”
writes Nick Lynn, a senior director of employee experience and engagement at WTW. “A consumer-grade
total rewards portfolio of pay, benefits, wellbeing and career programmes serves as a catalyst, driving
attraction, retention and engagement of talent essential to business success. Yet, in many organisations,
total rewards are not evolving quickly enough to keep pace with changes in the world of work.”

It’s also vital to get the most from your team right now. Keith Reynolds, HR vice president of total
rewards at PepsiCo encourages HR teams to ask: “How do we create a compensation and benefits
programs that can help us to attract the right talent, retain that talent, and help to engage that talent
now and in the future?”

Using insights gathered from a unified view of total rewards, your HR team can create new rewards
that meet the specific needs of employees. PwC’s Andrew Curcio and Alastair Woods note that
understanding an employee’s life stage and career aspirations are vital when doing so.

“Understanding these drivers for each employee should inform the new
ways of rewarding people, with more focus on learning, mentoring, career
development, and well-being than on financial reward,” Curcio and Woods
write. “Customization is challenging, as the added complexity generally costs
more. We have found the best path to improved business performance is to
apply an 80/20 rule: maintain 80% of the current offering (albeit streamlined
and simplified) and redesign 20%.”

Copyright ©2022 uFlexReward www.uflexreward.com

 Rewards are one of the biggest expenses in the
company. Given recent economic concerns and
predictions of a recession, getting on top of those
costs is more important than ever. One of the easiest

Rewards Visibility ways to do so is to eliminate or reduce the rewards

that data shows employees don’t value.
Helps Optimize
But that’s just the tip of the iceberg. You can also
and Model identify how reward costs impact the business as
Employee Costs a whole.

For instance, Mercer found that a “good salary” at one company decreased the likelihood
of turnover by three percent. On the other hand, a promotion increased turnover by 12%.
“People who were promoted found themselves with more responsibilities but inadequate
training to manage heightened expectations. Without sufficient support, movement between
jobs or departments had actually become a more critical push factor than pay levels,”
explain Mercer’s Brian Levine, Ph.D. and Lauren Mason. Spending more on employees
by promoting them was actually costing the company in the long run.

Further, you can use data to model a range of potential reward-related scenarios like how new
hire packages, promotions, organizational restructuring and expatriate assignments impact
costs. When pursestrings are being tightened, this kind of accurate analysis can allow HR teams
meet their own budget requirements while also helping to guide the company through
a potentially stormy economic period.

Ultimately, your company’s total rewards package plays a bigger role on

HR initiatives than you might think. And getting detailed analysis of your
rewards initiative is much more than just counting the cost. When you see
all your rewards data in one place, you get the kind of actionable insights
that let you bring about real, people-focused change in your organization
— the kind of big picture leadership every CHRO strives to achieve.

Copyright ©2022 uFlexReward www.uflexreward.com

 Why ESAs Are Non-Negotiable
in Tough Economic Times

SecureSave

W
ith stock market volatility, inflation, and a
potential recession on the horizon, many
companies are looking to make cuts—but
during these uncertain times, it’s employees who
suffer.

SecureSave recently conducted a survey to better

understand how people are navigating these
challenging times and how emergency savings can
help. Over 72% of those surveyed were negatively
impacted by rising inflation and 37% said financial
stress directly impacts their work.

30 ARTICLE STATE OF THE INDUSTRY RESEARCH

 Higher stress levels can lead to decreased
employee productivity, engagement, and retention.
Recent research shows that the one benefit
employees are asking for most is employer-
sponsored emergency savings accounts (ESAs)
— which enable companies to better support their
staff while cutting back on budgets.
The Need for Emergency Savings
Accounts is Now
Our co-founder, Suze Orman, spoke at a recent
event about employee sentiment during current
economic uncertainty, “What we’re finding is that
credit card debt is up 21% from last year. The
savings rate is back to where it was in 2013… Your
employees are becoming more and more afraid
they won’t have the money to pay their bills.”
31 ARTICLE
When financial times get tough, your employees
suffer. They worry about their bills and futures and
want to ensure they have an emergency cushion.
ESAs help employees feel more secure by giving
them a safety net.
As inflation increases and costs go up, employees
may need money for emergencies with cash they
don’t have. Employers are likelier to see 401(k)
loans and hardship withdrawals increase as
personal savings levels decrease to the lowest
level since the 2008 recession.
Our recent research shows that the most
urgent financial priority for people right now—
hands-down—is saving for emergencies, which
respondents ranked higher than paying down debt
and saving for retirement.
STATE OF THE INDUSTRY RESEARCH
 But providing an ESA benefit isn’t just about
enabling better economic security and financial
wellness for your employees. It’s also critical to
improving their emotional wellbeing; 42% of those
surveyed indicated that money concerns had a
negative impact on their mental health, which can
influence work performance. It only makes sense
for employers to address this concern head-on.
Efficacy and Cost-Benefit of ESAs
Helping employees navigate financial hardships
calls for a more straightforward behavioral solution
32 ARTICLE
than traditional financial wellness programs, which
often focus on educational content.
Tangible results are what makes ESAs so effective:
employees can start saving immediately and
access funds right away. Our research shows more
employees would choose an ESA over any other
benefit, with 43% of employees selecting ESA as
their top choice, versus 15% or lower for other
benefits.
STATE OF THE INDUSTRY RESEARCH
 Companies often offer benefits options that their
employees don’t want or aren’t utilizing. Less than
49% of employees take advantage of their existing
benefits. Recent research from SHRM found that
employers continually underrate stress that comes
from financial hardship—even though employees
say they want more financial wellness resources.

If you aren’t sure how to fit ESAs into your benefits

offering, consider surveying your employees and
seeing how they feel about the current benefits
lineup—and ask them whether they’re interested in

When compared to other popular benefits like a an employer-sponsored ESA.

health savings account (HSA) with employer match,

student loan payoff, and mental health support, If you need to, you could reduce benefits that

emergency savings accounts with an employer aren’t as in demand and focus instead on offering

match came out far ahead. employees an impactful solution they actually
want. Determine which benefits have the lowest

ESAs are not only cost efficient but they can help utilization rates and eliminate those from your

build trust within an organization. They offer a offerings.

unique alternative or supplement to other benefits

that appeals to leadership and employees alike With the requisite funds and support from

since it’s simple, low-cost, and easy to use. employees, you can explore adding an employee-
sponsored ESA to your offerings. If you launch

Employer-sponsored ESAs are straightforward, so this benefit, you’ll not only have happier, healthier

employees are more likely to appreciate their value employees, but you’ll also have higher engagement,

and trust the benefit as a reliable solution. lower turnover, increased productivity, and
improved trust in your organization.

Employers can implement a highly engaging

financial wellness program that’s simple, cost- To learn more about how you can add an employer-

effective, and directly impacts mental health and sponsored ESA to your benefits packages while still

financial wellness—by launching an ESA. reducing your budget, contact SecureSave today.

How to Accommodate ESAs on a Tight

Budget
Despite the clear benefits, the primary concern is
Would you like to comment?
how a program like emergency savings can fit into
your existing benefits budget.

33 ARTICLE STATE OF THE INDUSTRY RESEARCH

 Addressing Pay Compression
to Retain Talent

Robert Sheen, Trusaic

P
ay transparency continues to be a focal point
this year. With 10 states having implemented
salary range requirements for job listings, it’s
paramount that employers manage compensation
policies and practices that promote fair pay in the
workplace.
Instances of pay compression can also happen
during the event of an organizational merger or
acquisition. Two separate organizations likely
possess different pay policies, and when they
combine, it’s possible for pay compression to
surface.

As organizations incorporate these pay Pay Compression is on the Rise

transparency policies, however, they must be
Despite employers’ best intentions to promote
mindful of pay compression.
pay equity, and transparent pay policies, pay
compression is unfortunately on the rise. In fact,
Pay compression, also known as wage
56% of organizations reported experiencing pay
compression and salary compression, is a pay
compression in the last 12 months, according to a
equity issue that does not account for important
survey conducted by talent solutions firm, Robert
factors for paying employees differently,
Half.
including tenure, experience, skills, performance,
and education. It often occurs when new hires
Obviously, pay compression poses a serious risk
and tenured employees performing similar job
for organizations looking to retain talent during the
duties receive close to, or exactly the same,
tightest labor market in decades. Failing to address
compensation.
it can result in recruiting challenges and potential
turnover.
Pay compression is usually unintentional, and
it can happen for a number of reasons. For
Moreover, pay compression can result in significant
example, in an effort to attract talent during an
workforce challenges. Employees that become
increasingly tight labor market, recruiters and hiring
aware of unfair compensation practices within their
professionals may increase salaries for open job
organization experience a multitude of negative
listings. In doing so, it may create an instance of
feelings, including a drop in morale, comradery, and
pay compression for current staff.
self-worth.

34 ARTICLE STATE OF THE INDUSTRY RESEARCH

 To add to the severity of the situation, when
pay compression issues go unchecked for long
enough, they can result in legal action. Oftentimes,
employees that become aware of pay inequity
may attribute it to factors such as gender or race/
ethnicity – and those types of claims can create
serious reputational damages for a company,
in addition to significant punitive and monetary
damages.
Fortunately, pay compression can be solved.
Organizations aware of the issue have a multitude
of resources for addressing it. According to the
report by Robert Half, 62% of organizations are
increasing salaries for tenured staff to close wage
gaps. This is but one way to help curb instances of
pay compression.
Below we dive into specific steps your organization
can take to correct as well as prevent future
occurrences of pay compression.
Step 1: Review Your Compensation
Policy
Organizations eager to achieve pay equity need
35 ARTICLE
to have a great foundation, and that starts with a
comprehensive compensation policy.
Review your policy to ensure you have clear salary
ranges for departments and job roles. These ranges
need to include salary caps – or ceilings that
salaries cannot exceed. As recruiters seek out new
talent, the salary caps will ensure that new hires
are not brought in at a rate that would create pay
disparities or instances of pay compression for
current employees.
As you ensure equitable salary ranges across your
workforce, give special attention to the midpoint for
each department and the respective job functions.
To calculate the midpoint, you will need both the
bottom and top of the respective ranges.
For example, your Client Services Department may
have a host of different positions, but the range for
each position falls within the pay range of $50,000
and $95,000. To calculate the salary midpoint for
the Client Services Department, take the bottom
and top figures and divide them by two. Here’s the
formula:
STATE OF THE INDUSTRY RESEARCH
 Armed with the salary midpoint for the Client
Services Department, managers, HR, and recruiting
professionals can calculate where their workers
fall within the range. And with this information, you
can set parameters around where new hires and
tenured employees should fall in relation to your
established range.
Documenting this information in your pay policy
is part of the process, but the policy should also
include how to address instances when new or
36 ARTICLE
tenured employees’ compensation doesn’t align
with your established ranges. If for example, a
tenured employee falls below the salary midpoint
range you’ve established, give them a raise to close
the gap.
The adjustment in pay may temporarily affect your
bottom line, but the increase in salary is a worthy
investment for the future of your workforce – and
one that will certainly cost less than having to
replace them.
STATE OF THE INDUSTRY RESEARCH
 Step 2: Compare Policy and Execution
Establishing a compensation policy is one thing,
executing that policy is another.
When designing your strategy for employee
compensation and benefits, you may determine
that your organization compensates 10% for
tenure – that is, when accounting for compensation
between workers with comparable duties, tenure
could make up 10% of the difference in pay.
After reviewing actual salaries for employees of
similar job functions, however, you find that you’re
actually only attributing 2% of compensation
differences to tenure. In situations like this, your
pay policy and your compensation efforts are out of
alignment.
The gap between your pay plan and actual
compensation could be a significant contributing
factor to creating instances of pay compression.
It’s for this reason that organizations must audit
their compensation policy against what’s really
happening across their workforce. And if they are
not in sync, take action to make sure they are.
Issues like these can snowball and turn into serious
pay disparities.
Step 3: Conduct a Pay Equity Audit and
Adjust
Next, you must understand your pay equity profile
on a larger scale. Ensure you have equitable pay
practices amongst your entire workforce. Pay
equity audit software solutions like PayParity
identify pay gaps and pay disparities at the
intersection of gender and race/ethnicity.
37 ARTICLE
The results from the pay equity audit can help you
identify occurrences of pay compression that exist
for what appear to be discriminatory reasons – and
taking a proactive approach to addressing these
inequities will bode well for your organization’s
overall approach to fair pay practices.
Every time a new employee is hired, or an employee
leaves, an organization’s pay profile changes – it is
for this reason that pay equity audits be conducted
with some regularity. And because you want to
ensure there is equity across your current staff and
the jobs you’re
looking to fill, a pay equity audit can help you
understand where gaps exist, where they’re being
addressed, and where you need to focus your
efforts to prevent future pay discrepancies.
Step 4: Incorporate Equity into Your Pay
Ranges
Once you’ve made pay equity auditing a part of
your compensation policy, you need to act on the
findings discovered. If pay disparities exist for any
unexplained reason, correct them and ensure your
established internal pay ranges are reflective of
any pay changes you make. This will prevent pay
compression from occurring down the line.
These established, verified, and equitable salary
ranges will account for your current staff and
how much they earn. With this information clearly
documented and shared, your hiring staff will be
able to recruit with confidence.
STATE OF THE INDUSTRY RESEARCH
 Step 5: Continuously Monitor Pay Tools like the Salary Range Finder can help
Equity organizations strategically develop pay ranges that
adhere to the external labor market, as well as the
Pay is dynamic. Given the current state of the
internally established ranges. With software like
competitive labor market, discussions around
this, you can confidently post salary ranges in your
compensation are charting into new territories.
job listings so that they’re both competitive and
Organizations looking to retain their workforce,
equitable.
while also bringing in new candidates, must
continuously monitor their pay equity profile.
The Salary Range Finder solves pay compression
because it takes into consideration your
As you hire new employees, you need to be
established pay ranges across all departments and
confident that your compensation practices are
lays the data against the evolving external market
equitable.
data. The result? An equitable pay range – every
time.

To see how PayParity and the Salary Range Finder

can help you retain talent and minimize pay
compression, book a meeting with one of Trusaic’s
pay equity experts. Would you like to comment?

38 ARTICLE STATE OF THE INDUSTRY RESEARCH

Stop Pay Inequity at the Source
Equitable Salaries Simplified
Salary Range Finder TM

Achieve Pay Equity

 The Future of Compensation and
Total Rewards 2022-23
Talent Management Excellence • January 2023

For more information:

1.877.472.6648 The HR Research Institute
tracks human resources
sales@hr.com
trends and best practices.
www.HR.com/epubs Learn more at
hr.com/featuredresearch
Best-in-Class Education For All Your
Learning And Training Needs

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Talent Management Excellence presented by HR.com JANUARY 2023 41

 TOP PICK

On-Demand Pay Benefits

All Income Levels
Helping employees work toward
financial wellness should be top of
mind for HR professionals

By Brian Brinkley, QRails

A merican employees of all income levels are

facing financial stress. A recent Gallup poll found
respondents’ top concerns are paying their monthly
bills, maintaining their standard of living, and doling
out earnings for mortgage or rent. 

Their financial worries are understandable, with

inflation at 8.6%, a 40-year high, and nationwide
gasoline prices hovering around $5 per gallon. Plus,
short-term interest rates tripled their usual amount,
hiked by 0.75%, which is the most the Fed has raised
in 28 years.

These concerns trickle down into the workplace –

employees in financial duress are not as productive or
engaged as they could be. As such, human resource
leaders should be on the hunt for innovative programs
and solutions to help ease workers’ worries and
support their financial journeys in productive ways.  On-Demand Pay Benefits All Income
This could include financial wellness programs that
provide savings and spending planning advice. It
could also incorporate a modern payment solution
enabling employees access to their earned wages
before a traditional payday.
In today’s on-demand society, the manner and
frequency in which people are paid have not kept up
with the times. This is something HR should strongly
consider exploring and updating, as upgrading
to a more flexible payroll process not only helps
employees’ financial health but helps employers
attract and retain the best talent. 
Levels
Consider the financial struggles of many Americans: 
●● While the number of U.S. households that have
access to a bank account has steadily risen in
the last decade, approximately 5.4% of American
households remain unbanked, according to the
Federal Deposit Insurance Corporation’s (FDIC’s)
How America Banks: Household Use of Banking
and Financial Services report. Further, while
wages are rising across the United States, 61%
of Americans live paycheck to paycheck. 

Talent Management Excellence presented by HR.com JANUARY 2023 42 Submit Your Articles
 On-Demand Pay Benefits All Income Levels
●● Financial challenges are not just impacting
lower-income earners. The February 2022 New
Reality Check: The Paycheck-to-Paycheck Report
found 42% of consumers earning more than
$100,000 annually lived paycheck to paycheck
in December 2021, an increase from 39% in
May 2021. They are not only challenged to pay
monthly bills but would have trouble covering an
emergency expense of $400.
●● PwC’s “Employee Financial Wellness Survey”
found 63% of employees saying their financial
stress has increased since the beginning of the
pandemic. Among those with money-related
anxiety, nearly half (49%) said their mental health
has been adversely affected, including 41%
citing on-the-job productivity challenges, along
Talent Management Excellence presented by HR.com AUGUST 2022
with declining engagement and attendance.
Further, 42% of this group is twice as likely to be
looking for a new job.
Therefore, helping employees work toward financial
wellness should be top of mind for HR professionals. 
Today’s Earners Don’t Want to Wait for
Payday
Financial freedom and flexibility are increasingly
important for today’s consumers. The prevailing
thought process for many is, ‘It’s my money, I earned
it, so why is my employer holding onto it for two
weeks or more?’ And technology and business
processes have evolved to match today’s on-demand
world – with the exception of payroll. 
43 Submit Your Articles
 On-Demand Pay Benefits All Income Levels
People can click an app or swipe a card to get
everything from a rideshare to a meal, yet many are
still only paying their employees every two weeks.  rising prices is prevalent among hourly and salaried
One of the most common arguments for changing
paycheck frequency is that the old system leaves
workers financially frazzled. More regular payroll
frequency provides employees with greater flexibility
and control over their personal finances, allowing
them to handle any unexpected expenses or jump on
a limited-time discount on a purchase they have been
planning without having to wait up to two weeks for
payday to roll around.  The payment technology is there – it just has not
However, earnings on demand, also known as
on-demand pay or earned wage access (EWA), allows
employees to access a portion of their pay right after
working a shift, increasing their financial flexibility
and wellness. Plus, it matches the needs of today’s
on-demand world.
For employers, EWA eliminates the costs associated
with payroll, such as printing and mailing checks.
Better yet, it can help companies become an employer
of choice by better attracting and retaining employees
– standing out from the competition.
Talent Management Excellence presented by HR.com JANUARY 2023
Equality of Pay, Regardless of the Amount
Earned
EWA provides pay equity and an equal financial
playing field. Whether available for banked, unbanked
or low-, middle- or high-income earners, on-demand
pay solutions help employees avoid stress for both
everyday transactions and special occasions, such as
purchasing tickets to a game or taking their family out
for a celebratory meal. 
In the near future, some on-demand solutions will
enable peer-to-peer transfers, offer rewards and
points like credit cards and enable companies to give
out spot bonuses or load money allocated toward
a certain perk. Workers can use such a bonus to
purchase a seasonal gift, such as a Thanksgiving
turkey from their employer. Further out, we might even
see EWA replace conventional banking. 
Get in Tune with the Modern Way to Pay
The benefits of on-demand pay in an on-demand world
are undeniable. Financial stress due to inflation and
employees. Gaining access to their pay immediately
after working – and without having to wait for payday
– can help employees tackle their bills and get one
step closer to financial flexibility and freedom. In
addition, EWA decreases employers’ costs associated
with payroll, enables them to provide a much-desired
benefit to help attract and retain top talent, and is
often available at no cost to employers or employees.
caught up as quickly as other on-demand solutions
like Uber, DoorDash and PayPal. So, if you are an HR
leader who is interested in doing away with antiquated
payroll cycles and getting in tune with the times, EWA
is the way to pay today. 
Brian Brinkley is the CEO of QRails.
Would you like to comment?
44 Submit Your Articles
Everyone’s Talking
About Problems In The
Workforce, But No One’s
Discussing The Solution
That’s Right In Front Of Us
The far-reaching advantages of flexible work
By Kevin Akeroyd, Magnit
E verywhere I look, business leaders and analysts
are lamenting the shallow hiring pools American
businesses are facing. At the same time, a looming
recession has news of layoffs at high-profile tech
companies rippling across the country as cost-saving
measures become the guiding light in certain
industries. Then, there’s the “loyalty crisis,” which is
seeing full-time employees sticking around for less
time than in previous eras. Further complicating the
issue is unemployment, which is sitting at just 3.7%,
despite ongoing cries that “no one wants to work.”
The thread that connects these seemingly paradoxical
talking points is a temptation to place the blame for
workforce woes elsewhere. It’s the economic climate
or a lack of employee loyalty or laziness or something
else. It’s not me—it’s not my business. The desire
is understandable, but to take this view ignores the
very real shifts in the labor market that are happening
before our eyes.  do it. To fulfill these new career priorities, American
While it’s true that companies are finding it
challenging to attract and keep top talent, the idea
Talent Management Excellence presented by HR.com JANUARY 2023
that a lack of quality candidates is to blame is a myth.
No, the issue is not that workers have changed—it’s
that employers haven’t. For workers already yearning
for a change of pace, Covid-19 offered an opportunity
to reevaluate priorities. Now, businesses must do
the same. Where yesterday’s workers valued stability
above all else, today’s crave freedom and flexibility
when choosing roles. That’s a lead that businesses
would do well to follow when developing their total
talent strategy, and I don’t just mean by offering
work-from-home options. 
Today’s workers are looking for a different experience
from their workplaces. They are pursuing careers
at companies that value their unique skill sets,
and they want the freedom to use those skills to
advance innovative products, services, and brands.
Sometimes, that means foregoing tenure in favor of
something that excites them, and they’re happy to
workers are turning to flexible work arrangements
(e.g., contingent roles, freelance opportunities, and
contracted positions) in droves, and most employers
aren’t keeping up. 
45 Submit Your Articles
 Everyone’s Talking About Problems In The Workforce, But No One’s Discussing The Solution That’s Right In Front Of Us
The Far-Reaching Advantages of
Flexible Work
Once regarded as a consolation prize to landing a
full-time role, flexible positions are becoming more
desirable to workers looking to align their lifestyle with
their passions. A 2022 report by the Future of Work
Exchange found that 47% of the American workforce
is contingent, and that number is growing. This
workforce is comprised of highly skilled, experienced
professionals who choose to take on short-term
assignments because their talents allow them to do
so. Whether these employees are looking to take time
off between jobs, work for themselves as a contractor
or consultant, spend more time with their families, or
simply want to stay in their hometowns while getting
to work for a top company, the desire to use their
talents on their terms remains a constant.
Embracing a flexible workforce isn’t just good for
employees. It can also help companies win the war for
talent while streamlining teams for optimal efficiency.
Just as these arrangements provide flexibility for
workers, they give employers the freedom to change
course if needed. They are agile and flexible, making
them easy to scale as a company’s needs change.  that were category leaders in Cloud
Some businesses have been leveraging the power
of extended workforces for decades. Tech industry
giants like Meta, Google, and Amazon have been
utilizing extended workforces for some time now and
reaping significant rewards for their willingness to
push for a more innovative approach to recruitment.
Talent Management Excellence presented by HR.com JANUARY 2023
They’ve embraced the extended workforce and posted
record profits while doing it. 
My company, Magnit™, has seen this increased
investment from our client base first-hand. Our
five most prominent tech clients all expanded their
existing contingent work programs in 2022 and grew
their diversity spending by 34.6% during that time.
Furthermore, our client’s overall spending on contingent
workforce programs across industries has more than
doubled over the past year, growing from $11 billion to
$23 billion. It’s clear that companies that explore this
option see its benefits. 
So, if professionals are waking up to the benefits
of taking on limited contracts, and some of the
biggest companies in the world are too, why aren’t all
employers? Because they think it’s easier to stick with
the status quo.
They’re not wrong, of course. Doing nothing is always
easier than doing something — but complacency comes
at a cost. In this case, the costs of continuing as usual
will add up fast in the form of lost opportunities. With
contingent workforce growth likely to continue into
the coming decades, employers must now realize that,
soon, their “contingent employees” will just be their
“employees.” Those who resist the evolution of the
workforce at this crucial juncture will find themselves
unable to compete sooner rather than later. 
Kevin Akeroyd serves as Magnit’s
Chief Executive Officer and leads the
vision and strategy for the company.
He is recognized as one of the
technology industry’s most tenured
and trusted experts. Kevin has held
executive leadership roles at some
of the world’s most notable brands
Software, Services and Data. 
Would you like to comment?
46 Submit Your Articles
 TOP PICK

Three Reasons Why

CFOs Must Focus On
People In 2023
Companies need to plan ahead and
invest wisely in their people
By Ian Cook, Visier

A s we begin a new year,

there are plenty of factors
that will demand the attention
of a chief financial officer. With
all factors pointing toward an
economic slowdown and potential
recession, cost-cutting measures
will certainly be top of mind
for most businesses looking to
weather the storm.

Traditionally, headcount is often

one of the first line items to
be critically assessed during
these times, but there’s more to
consider than just numbers when
looking at people. In fact, there
economy reliant on the skills, the U.S. Bureau of Labor Statistics,
are three key elements that a
knowledge, and commitment of over four million employees each
CFO must take into consideration
its workforce. month leave their jobs, and there
when dealing with people in 2023.
are still nearly two open roles for
While we often think of a every available worker. Anyone
Labor Remains in Short
recession playing a role in a that believed this would change
Supply
downward shift in job openings, has been proven wrong, and it will
In 2020, “intangibles,” or this year there is a significant continue to be the case for the
non-physical assets, accounted difference. Despite the atten- long term. The worldwide talent
for 90% of the S&P 500’s market tion-grabbing headlines of shortage is forecast to be 85
value. This is up from 17% in 1975 widespread layoffs, people are million people by 2030.
and is driven by the gradual shift increasingly scarce. According to
toward a services economy — an

Talent Management Excellence presented by HR.com JANUARY 2023 47 Submit Your Articles
 Three Reasons Why CFOs Must Focus On People In 2023
Companies need to plan ahead
and invest wisely in their people
to meet their near-, medium- and
long-term needs for people or run
the risk of having critical gaps in
their organization.
Investors Care About
People Strategies
To put it plainly, people are on
investors’ radars. According to
Larry Fink, the CEO of BlackRock,
“Turnover drives up expenses,
drives down productivity, and
erodes culture and corporate
memory.” People metrics are
becoming increasingly more
important for both institutional
and retail investors, and the
CFO is going to have to reckon
with the demands of reporting
on not only cost measures like
headcount planning but also
diversity, equity, inclusion and
belonging (DEIB) initiatives that
prove an organization is living
up to their corporate social
responsibility policies.
This isn’t just conjectured either.
New regulations from the SEC
Talent Management Excellence presented by HR.com
and EU have placed an increased
focus on the people aspects of
business, and while both are still
relatively new, organizations can
expect to see more and more
structure put around the reporting
policies and what is expected.
Financial Impacts on
People Are Nuanced
It’s easy to understand the
expense put toward labor but
much harder to understand the
investment and bottom line
impact. What we do know is that
people directly impact the bottom
line. Research by BlackRock
shows how resignations impact
return on assets. Another study
in the Harvard Business Review
identified that time in role
(experience) accounted for up to a
50% increase in sales.
We’ve also seen statistically
significant evidence that turnover,
or layoffs, impact multiple
areas of the business such as
internal communication, burnout,
creativity, performance, job
satisfaction, and more.
JANUARY 2023 48
Simply put, people are far more
nuanced than just an expense
item, and with elevated levels of
stress during times of inflation
and a recession, businesses are
going to need to be proactive in
retaining staff and maintaining
employee well-being, not just for
the benefit of the employees but
for the sake of the bottom line.
CFOs know they need to focus
their skills and attention on the
areas which will most significantly
impact business returns. For the
last 20 years, this has meant an
obsession with customers. For
the next 20 years, people and the
workforce will demand this level of
focus and investment.
Ian Cook has spent his 20+ year
career building business success
through people. He started and
scaled three companies and a
not-for-profit as well as consulted to
a host of Fortune 100 companies.
What distinguishes Cook and makes
him sought-after as a speaker,
adviser and executive leader is his
ability to link the human side of
the business to the core drivers
of operations and finance. His
expertise is accessed daily by
thousands of executives who are
working to build business success
through their people. 
Would you like to comment?
Submit Your Articles
10 Reasons Why
Focusing On Equality
Is Crucial In 2023
Change the trajectory for
the working year ahead
By Thom Dennis, Serenity in Leadership
F ollowing a turbulent, expensive, and divisive year
for many, it would be possible to look to 2023 with
some degree of despondency but taking positive
measures to create equality in the workplace could
change the narrative of your business and change the
trajectory for the working year ahead.  declaration of your equality policies?  If not, why not?
What’s more, becoming a pioneer for equality may
go beyond your own employees and have a knock-on
effect on those around you, such as your alliances,
stakeholders, clients and consumers.
Talent Management Excellence presented by HR.com JANUARY 2023
Check out why a renewed emphasis on equality can
help culture and the bottom line in 2023.
 1. Equality Is Access To A Level
Playing Field 
Offering a wide range of opportunities, training
and promotions so everyone has the same rights,
prospects and status regardless of age, gender, race,
sexual orientation, disability, religion, language and
any other kind of social difference, results in fulfilling
purpose and objectives. It also, when combined with
an acceptance of the inevitability of personal bias,
creates a productive team whose members feel they
have a positive future ahead of them.
2.  Equality Is Looking In The Mirror
Taking a step back to see the business in the way you
are projecting it to those looking in is an essential
exercise in reflection.  What does your website look
like?  Could the language you are using actively
exclude a particular group?  Do you have an overt
 
If so, is there congruence between your promises and
your practice? Focusing on equality helps us improve
our language, recruitment, work culture, and then our
profit margin.
49 Submit Your Articles
 10 Reasons Why Focusing On Equality Is Crucial In 2023

easily and freely report any incidents that may occur,

 3. Equality Is Valuing Your People
and being responsive and taking meaningful action is
Yes, they really are your greatest assets. If your
fundamental to combatting any hidden prejudice and
workplace is one that accommodates the needs of
systemic issues.
any worker who feels like they are a minority you
will want them to know their beliefs and needs are
6. Equality Means Being Proactive
understood. For example, introducing a multi-faith
 It is important to not become complacent with
prayer room, or space for quiet and reflection that
policies that have been in place for a number of years. 
employees can use freely during a break means
Although the intentions behind policies and programs
making it known to your employees that they are
may have initially been sound, businesses need to
respected and heard.
stay agile and be ready to adapt or change. We saw
the impact of Covid-19 on better flexibility for working
4. Equality Results In Equity
from home. Stay ahead by remaining open and
Equity comes from a place of ensuring fairness. The
continually reviewing policies and strategies.
most obvious example is fair pay, which is a mutually
acceptable exchange for skill, experience and
7. Equality Provides A Voice
commitment and should not be affected by any social
 Gaining a clear understanding of your employee’s
differences between us.  It is important to regularly
experience means pursuing regular, open
review whether groups who commonly encounter pay
communication about all aspects of diversity and
discrimination are being paid fairly. 
inclusion, and welcoming constructive criticism.  By
giving workers the opportunity to ask questions or
5. Equality Means Protection
provide feedback, not only do you gain an account of
An equal workplace means that there should be no
the genuine experience of your employees, but you
room for discrimination of any sort.  Integrating real
also ensure a culture of autonomy and freedom to
safeguarding and protection policies for employees to
be heard.

Talent Management Excellence presented by HR.com JANUARY 2023 50 Submit Your Articles
 10 Reasons Why Focusing On Equality Is Crucial In 2023

particularly those raising a family alongside their

8. Equality Means Accessibility
career. Penalizing someone for having a family and
Expecting individuals to have identical requirements
forcing them to choose between their loved ones
and goals results in a lack of diversity. Creating
and work results in a loss of trust, and likely valuable
accessible workspaces instantly opens doors for
talent.
individuals who face any sort of disability and
neurodiversity and enables them to bring all they offer
to the table. Offering remote working opportunities
as well as creating a practical accessible space, for With an MSc in Change Agent Skills
example, by installing ramps for wheelchair users, or & Strategies, skills as an NLP Master
offering a quiet alternative for those with sound-sen- Practitioner, 17 years of experience
as an officer in the Royal Marines,
sitive needs, are ways of showing that your business
and having worked extensively around
actively values equality and inclusion.  the world, Thom Dennis brings all his
experience together as a facilitator,
9. Equality Means Keeping Up To Date speaker, consultant, educator and
With Science and Current Thinking change agent as CEO of Serenity in
Leadership. For the last 30 years,
The social demands for the acceptance of trans
his career has been dedicated to
people is now an important part of being inclusive. facilitating transformation through
Racial justice is another move that is more than a organizational change.
trend, while increasingly one focus is on the effects on
women going through menopause at work.

10.   Equality Enables Flexibility Would you like to comment?

Flexibility is necessary if you are to accommodate
a diverse group of workers with varying needs,

Talent Management Excellence presented by HR.com JANUARY 2023 51 Submit Your Articles
 HRCI & SHRM ® ®

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 Why Certification is the Best Choice:

11. Less expensive than a masters or PhD program, and very manageable to prepare with
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 TOP PICK
Workers’ Comp For
Digital Nomads
Are you legally required to provide workers’
comp coverage for digital nomads?
By Craig Shapiro, Cerity
W ith the rise of remote working and the
opportunities it brings for living with more
flexibility, telecommuters are enjoying working from
their homes, favorite coffee shops, or anywhere
else they may fancy. Digital nomads, many of
whom consider themselves to be the future of
remote working, are even taking to planes, trains,
and automobiles in order to work from wherever
they please.
With this increase in telecommuting, businesses
face unique challenges regarding how they handle
everything from company policies to business
insurance. Whether you’re a remote worker yourself
or you employ remote workers who wish to travel, you
likely have many questions about workers’ comp for
digital nomads.
Here, we’ll break it down and help you understand the
laws and circumstances that dictate how workers’
comp covers digital nomads.
What Are Digital Nomads?
First, let’s talk about what distinguishes digital
nomads from other telecommuters. Unlike remote
workers who primarily work from home in a home
office, digital nomads work from various places at
various times in their career. Whether they’re traveling
around the globe, road-tripping across the United
States, or office-hopping to various co-working spaces
Talent Management Excellence presented by HR.com JANUARY 2023
in their home city, digital nomads are usually more
flexible and independent in how and where they work.
Many digital nomads are freelancers or independent
contractors. Others may be employed full-time
by companies that are open to a more flexible
working experience.
Workers’ Comp for Digital Nomads
If your office is on the beach, what role does workers’
comp insurance play in your working life? As a
business owner who employs remote employees,
are you legally required to provide workers’ comp
coverage for them? These are important questions for
both digital nomads and the companies that employ
them. Workers need to know if they’re covered, and
business owners need to know if they should provide
coverage and what, if any, liabilities they face with
having a digital nomad on their payroll.
The answer to these questions lies in how an
employee is categorized at the company. If an
employee is classified as an independent contractor
or freelancer, or, in other words, is not considered
an official employee, then it generally falls on the
employee to provide their own workers’ compensation
insurance. This is similar to how freelancers and
independent contractors are responsible for paying
their own taxes, social security, pension, and other
benefits. Although state laws may vary regarding
how businesses treat independent contractors and
freelancers, this is the case for most states.
54 Submit Your Articles
 Workers’ Comp For Digital Nomads

If an employee is classified as an employee, however,
the laws of the state that the business operates in will
determine whether or not the business must provide
workers’ comp insurance. If you own a business and
your state law finds digital nomads to be employees
eligible for workers’ compensation, you must pay for
insurance coverage for all qualifying employees.
Digital nomads who are employees and are required
by state law to be covered by workers’ compensation
can run into an additional challenge: workers’ com-
pensation only covers work-related duties and the line
between personal time and work time can become
blurred for digital nomads.
In fact, there are many gray areas with digital nomads
and workers’ compensation, and in these situations, it
may take negotiation or even taking a claim to court to
determine whether the worker is eligible for benefits.
It can be hard for workers to prove they were actively
working when an injury took place and not taking a
break, for example. There may not be witnesses who
can determine if an injury happened in the course
of work duties and it may be up to the worker to
provide evidence that their injury was caused by work,
whether they were injured when biking to a client
meeting, suffered an injury on a plane while working
on a laptop, or otherwise were injured in this type of
“gray area” incident.

For example, what happens if a digital nomad is

working on the beach and during the course of a busy
Craig Shapiro is Vice President,
day sustains back injuries due to hours at the laptop?
Product & Underwriting for Cerity, a
In this case, workers’ compensation would likely cover workers’ compensation insurance
the injury because it was work-related, even though it provider founded with a bold vision
happened at the beach. If, on the other hand, a digital to reimagine small- to medium-sized
nomad working as a copywriter was taking a break at business insurance. 
their hotel gym and got injured on the treadmill, this
would not be covered, because the worker was not
engaged in work activities.
Would you like to comment?
What if a digital worker is working at a coffee shop
and spills coffee on themselves, causing burn
injuries? This is a gray area.

Talent Management Excellence presented by HR.com JANUARY 2023 55 Submit Your Articles
 i o n 3
i c at r 2 0 2

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HR Memo To
Professionals: Build A
Professional Network
3 ways HR managers can describe
how a professional network can be
an essential help
By Shawn Herrera, Pepperdine Graziadio Business School

D espite recent news of layoffs

at U.S. firms, the job market
remains robust, and it is changing
the traditional career path. Recent
U.S. Bureau of Labor Statistics
data shows the acceleration of
wages continues to increase, and
the number of people who either
are working or want a job has
continued is dropping. Despite
this, there is a countertrend of
professionals who quit their job
and later say they regret their
hasty exit. According to a poll
released in September 2022, one
ship for a higher wage without employees through leave-or-stay
in four U.S. workers who quit
much thought at all about other job scenarios. While the urge
their previous job regrets their
factors. Others are simply burned for a quick, clean break may be
decision. 
out, lonely, experiencing family appealing, HR managers can curb
stress, and desire some time off that urge by reaffirming employees
The Great Resignation raises
before starting their next chapter. and encouraging them to consider
questions about why people
Research from Gallup states that moving up within their existing
quit and how they quit. Some
“50% of employees have left a job employer. Encouraging employees
people report being inspired by
to get away from a [bad] manager to build a solid professional
peers who quit their jobs, saying
at some point in their career.” network builds credibility for HR
it gave them the confidence
managers, helps employees and
they previously lacked to make
Whatever the reason, HR could benefit the business.
a move themselves. Some jump
managers play a role in guiding

Talent Management Excellence presented by HR.com JANUARY 2023 57 Submit Your Articles
 HR Memo To Professionals: Build A Professional Network
For those who want to move up
with an existing employer, building
and leveraging a professional
network can be the difference
between a smooth transition or
a misstep on the career ladder.
Some will climb a career ladder
only to later realize their chosen
ladder was leaning against
the wrong wall. Professional
networks can consist of company
peers, mentors, and sponsors.
Each plays a different, but equally
valuable, role.
Here are three ways HR managers
can describe how a professional
network can be an essential help:  that may not be as they seem.
1) Look Before You Leap
Wise job changers who seek to
stay and move up draw on the
advice of others before making
the switch in order to affirm or
Talent Management Excellence presented by HR.com
reconsider their decision. An
employee’s professional network
can help clear up questions
about whether the workplace
culture, compensation package,
and growth opportunities at your
current position are worth the
added responsibility and future
growth. They can also advise
on ways to develop additional
skills or if an advanced degree
might assist you to move up your
current career ladder or pivoting
to a different area. Connecting
with professionals in a network
can also challenge assumptions
about the prospective position
More than just making your
work not enjoyable, choosing
the wrong workplace, and/or
boss, can be hazardous to your
health. According to the Mayo
Clinic, “your supervisor is more
JANUARY 2023 58
important to your health than your
family doctor.”
2) Get the Inside Scoop
Friends and family, social media
platforms such as LinkedIn and
Glassdoor, past colleagues and
peers, can all serve as insiders
to aid in switching jobs. From
my vantage point of working at
Pepperdine Graziadio Business
School, I’ve seen great career
matchmaking sparked when
students leverage classmate
relationships, faculty relationships,
and their alumni network. Before
making a hasty move, it is wise
to learn first-hand if the desired
position (& supervisor) offers
opportunities for long-term growth,
higher salary potential, and better
benefits than are possible with
your current position.
Submit Your Articles
 HR Memo To Professionals: Build A Professional Network

be one part of the job switch

process. Professionals need to
consider their long-term financial
and personal goals, where they
want to live, the impact that a job
change may have on their family
and other personal pursuits, and
most importantly, the impact on
their health.

Overall, speaking with your peers,

mentors, and sponsors is a
time-tested method for breaking
through a cluttered and churning
job marketplace. It is critical to
building a network throughout an
entire career, not only after you
realize you need it. 
new role, greater responsibility, or
3) Do a Deep Dive with
Your Current Employer  more flexibility. While moving on In addition to the better version
may seem desirable, it is worth of themselves, they become
Many companies may offer
exploring whether an existing while earning their degree, one of
lateral movements. There may be
employer has a well-suited, the main reasons professionals
promotional opportunities that are
unfilled position creating a win-win consider earning an MBA is
not widely advertised. Even better,
scenario. This may open doors to to enhance their professional
with your insider knowledge of
existing opportunities, or create network. A network that will
your current employer, you may be
new ones, without having to join pay dividends for their entire
able to discover new opportunities
the Great Resignation. “The grass career. With a solid network in
for your company. These may
is not always greener on the place, professionals are better
be prime opportunities in which
other side of the fence, but it is positioned to make a job switch
you are best qualified to provide
almost always greener where you that enhances their career and HR
growth, and which could create
water it.” managers can look like helpful
a new role for yourself. Often a
direct conversation with a direct advisors.
To be certain, tapping a
manager can help bring about
professional network should
desired change whether it be a

Shawn Herrera is a Practitioner Faculty of Applied Behavioral Science (ABS) & Organization Theory
and Management (OTM), in addition to being Director of Corporate Relations, at Pepperdine
Graziadio Business School in Los Angeles, CA.

Would you like to comment?

Talent Management Excellence presented by HR.com JANUARY 2023 59 Submit Your Articles
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