Compensation and benefits trends 2022

What benefits do employees value most in 2022?
A 2022 Paychex survey reveals that when asked to rank benefits (aside from higher pay), more Gen Z respondents cited mental health benefits as the top benefit that would make them stay at a company long-term..
What benefits do employees value most in 2022?
A 2022 Paychex survey reveals that when asked to rank benefits (aside from higher pay), more Gen Z respondents cited mental health benefits as the top benefit that would make them stay at a company long-term._{Dec 20, 2022}.
What is compensation strategy?
A compensation strategy is how your organization approaches pay and benefits.
This includes setting salary ranges, determining how raises and bonuses are calculated, and identifying which benefits you want to offer to your staff..
Which benefit currently has the highest cost for employers?
A few of the most common benefits include: Health Insurance: This tends to be the most expensive for both employers and employees to pay for..

71% of employees say that working extra hours warrants an increase in compensation. Nearly half (45%) of employees say that employers not providing essential benefits warrants an increase in compensation. Nearly one-third (32%) of employees say that requirements to be in the office warrants an increase in compensation.

Dec 29, 2022Employers in the U.S. expect medical plan costs per employee to rise 5.6 percent on average in 2023, Mercer reported earlier this year, a

Dec 29, 2022Here's a look at some of the year's biggest topics in compensation and benefits.

How important is work-life balance in 2022?

The need for flexibility and the emphasis on work-life balance will be more important than ever in 2022, with the past year causing somewhat of a reckoning among organizations that saw employees leaving in droves due to burnout and overworking.
For decades, discussions around salary were considered taboo.

What will compensation look like in 2022?

One of the most critical trends for compensation in 2022 will be the ability to successfully manage change.
Just as companies were beginning to take down their guard and plan for an official return to work, the Omicron variant hit, proving to all of us that there’s no predicting what’s ahead.

Where can I find information about paid sick leave in 2022?

For more information, see the Paid sick leave, paid vacation, and consolidated leave plan provisions in the United States, December 2022 page.
The National Compensation Survey (NCS) provides comprehensive measures of compensation cost trends and the coverage, costs, and provisions of employer-sponsored benefits in the United States.

How will the labor market affect compensation budgets in 2022?

Mitigating Pressure on Compensation Budgets & Rising Wages

In 2022, employers will have to continue to find solutions in response to the tight labor market while simultaneously combatting the rise in employee wages

As wages try and keep up with inflation, more strain is being placed on compensation budgets

What are the top benefit and compensation trends?

From the hundreds of companies we work with, these are the top benefit and compensation trends we’re seeing

Evaluating benefit platform to align with overall wellness and diversity initiatives, including adding/ expanding family planning and caregiver benefits as well as resources to support saving, budgeting and debt management

Will compensation & benefits change in 2022?

Specifically, as it relates to recruiting and retention efforts, a revamping of compensation and benefits strategies has become a necessity

This trend will continue to gain force in 2022 as organizations face never-before-seen challenges in the war for talent

ESG