Rewards that Resonate: Today’s AEC Firm Total Rewards Strategies-Total Rewards that Resonate Today’s AEC Firm Total Rewards Strategies Recording

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The online class "Rewards that Resonate: Today's AEC Firm Total Rewards Strategies" features industry experts Julie Haspel, Alison Watson, Doug Yeager, and Leigh Ann White, focusing on total rewards approaches within architecture, engineering, and consulting (AEC) firms. Julie Haspel introduces key industry data highlighting talent as the top constraint for firm growth, with 80% of firms citing it as such. Turnover rates have hit historic highs post-COVID, leading firms to increase hiring and invest more in total rewards strategies to enhance employee engagement and retention.<br /><br />Total rewards encompass salary, bonuses, benefits, and culture which directly influence recruiting, onboarding, talent development, career pathing, and transition planning. Key trends include firms allocating approximately 13% of net revenues to benefits, widespread adoption of pooled Paid Time Off (PTO) programs, expanded parental leave policies, and growth in wellness offerings addressing mental, emotional, and physical health needs.<br /><br />Panelists share insights from their employee-owned firms with diverse geographic footprints. Alison Watson of Woodard & Curran emphasizes a "people first" culture grounded in competitive benefits and employee ownership. Doug Yeager of Ulteg highlights culture as core to growth, compensation at or above market, flexible work, and creative benefits like pet insurance. Leigh Ann White from GHD describes data-driven, flexible total rewards strategies tailored to their global, multigenerational workforce.<br /><br />All agree on the challenges of meeting diverse employee needs, leveraging flexible work policies, offering varied benefits, and continually reassessing strategies. They also discuss transparent communication of total rewards and address implications of new U.S. executive orders on diversity, equity, and inclusion (DEI), emphasizing continued commitment to inclusive cultures and compliance.<br /><br />Overall, the presentation underscores that effectively designed total rewards are vital to talent attraction and retention amid competitive labor markets, with culture, flexibility, and employee-centric benefits key to resonating rewards.

Keywords

Total Rewards

AEC Firms

Talent Retention

Employee Engagement

Benefits Strategies

Flexible Work Policies

Employee Ownership

Diversity Equity Inclusion (DEI)

Wellness Programs

Competitive Labor Market