When it comes to affecting total reward decisions, 58 percent of respondents say employee benefits are the top consideration, according to the 2012/2013 Verisight and McGladrey Compensation, Retirement and Benefits Trends Survey.

Because of this, respondents are balancing the need to manage costs with the hope to attract employees at 47 percent and retain employees at 48 percent.

"As the dust from the economic crisis slowly settles, business leaders are challenged with rising benefits costs, evolving health care reform, calls for increased transparency and regulatory changes," says Martha Sadler, managing director of Verisight Inc. "Despite this strained economic backdrop, decision makers are staying the course when it comes to total rewards for employees. In general, leaders are being asked to do more with less, and this directive is defining current practices in compensation, retirement, and health and welfare benefits programs."