Far-reaching workplace changes prompt employers to rethink work, Total Rewards and careers

Key pressure points where organizations experienced far-reaching changes over past 3 years
81% Ways of working (including increased flexibility)
64% and 57% respectively
65% Emphasis on diversity, equity and inclusion (DEI)
62% Leader and manager competencies
59% Organizational culture
Note: Percentages indicate percentage responding 4 or 5 on a scale from not at all (1) to a very great extent 5).
Evolving business and financial strategies, attraction and retention challenges, and board and management concerns prompt organizations to address pressure points.
Sweeping workplace changes occurred against the backdrop of a tight labor market
Organizations will continue to have problems attracting, retaining and engaging employees
Attracting people in 2020 35% and in 2022 73% which in an increase of 108%
In 2020 35% of employers had difficulties attracting people and in 2022 73% which in an increase of 108%
In 2020 24% of employers had difficulties engaging people and in 2022 54% which in an increase of 122%
In 2020 22% of employers had difficulties retaining people and in 2022 59% which in an increase of 175%
Employers report difficulties attracting or retaining employees across the workforce
78% digital talent
56% sales force positions
55% diverse employee populations
Note: Percentages indicate "To a great/moderate extent"
Employers globally look to take action in three strategic areas: work, Total Rewards and careers
Increase in percentage of employers expecting extensive changes
50% Optimizing work and job design
80% Total Rewards philosophy
90% How they define careers
Compared to those who are not making changes in these strategic areas, organizations who are taking action are:
70% more likely to be making changes to their business strategy
More than 2x as likely to be changing their financial strategy
More than 2x as likely to be changing the skills required to get work done
80% more likely to have new competitors for talent
Over 2.5x as likely to be responding to stakeholder concerns about board effectiveness
Top 5 actions for employers
Identify new sources of talent for work based on more flexible approaches to where, when and how work gets done
Redesign jobs taking into account new skills, work value and changing employee preferences
Reset your Total Rewards philosophy and strategy for the new hybrid work environment by making trade-offs between design and cost optimization
Drive environmental, social and governance (ESG) and DEI goals through Total Rewards
Set an overarching career enablement strategy and define career alternatives
About the survey: A total of 1,650 worldwide employers, including 37 from the Benelux, participated in the Reimagining Work and Rewards Survey, which was conducted between October 28 through December 10, 2021.
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