Flexible Work and Rewards: 2021 Design and Budget Priorities | Willis Towers Watson

Workforce Trends

While organizations continue to support flexible work in a pandemic-altered workplace, many are thinking through the implications of this trend for rewards and benefits programs. This survey, conducted between October 6 and 21, 2020, provides insights on this topic by exploring the perspectives of 344 organizations in North America, employing 4.83 million employees. Among the findings is 1) about six in 10 workers (59%) are currently telecommuting/working from home, and they expect over half of their workers (52%) to be doing so through the first quarter of 2021, 2) over one-third (37%) of organizations do not have a formal policy to manage these arrangements, and a quarter (25%) have just put such a policy in place this year, 3) roughly half of the employers (49%) indicate that the new work requirements necessitate a hybrid reward model, which for some organizations include paying employees based on their geographic home base when they relocate. Several other data points are provided that can help firms evaluate the cost benefits of alternative work arrangements. You can also check out a previous post I made regarding an HR Executive Online article, Managing Cost-of-living Differences for Pay in a Remote World.

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