WTW believes that equitable Total Rewards and the right employee experience are keys to success – for everyone.

The way organizations operate has radically transformed. Around the world, employers are strained under the pressures of new risks and supply chain issues, and they are increasingly forced to balance operational priorities with employees’ overall wellbeing and organizational commitments to equity. There is a cost to deprioritizing employees or only implementing short-term solutions – and it affects women disproportionately.

WTW Directors Karen Gordyan and Jessica Ruggles pen an article on ways employers can recognize, promote and (re)assess their effort toward equitable Total Rewards and the right employee experience. Karen is Director, Client Management and Jessica is Director, Employee Experience.

In the U.S. alone, the Shecession and The Great Resignation have disrupted female labor force participation, which has dropped to a 33-year low. This loss of contribution is bad news for employers and the economy at large, as women increasingly report higher confidence in entrepreneurship, leading financial decisions and attaining higher education. Additionally, companies with more women in executive and management roles deliver a more positive employee experience by 73%.

An exodus of female talent exacerbates labor shortages, reduces innovation, diminishes the quality of leadership at an institutional level, and negatively impacts the employee experience for the remaining workforce. And while the case is clear that diversity is beneficial for employees as well as the bottom line, a perfect storm of current events has made diversity even more difficult to cultivate.

Karen and Jessica discuss how employers can reverse the tide:

• Focus on the whole person – even before they’re an employee
• Expand the impact of the employee experience
• Design pay, benefits and wellbeing to advance inclusion and equity
• Continually assess and reassess

Building a more equitable future for women

"This is a defining moment for leaders as they steer their organizations through uncertain times to reflect a culture of equity and wellbeing. The diverse attitudes, preferences and needs of the modern workforce require leaders to listen openly, prioritize high-impact people solutions and act thoughtfully to spark change," say Karen and Jessica.

Read the article in full. 

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