Within the past three years,approximately 40 percent have been promoting employeewell-being—and 80 percent expect employee well-being to increase inimportance over the next three years,. (Photo:Shutterstock)

It's hard to find good talent these days–not only are employerscompeting on salary and benefits, but today's younger workers areinterviewing their employer almost as much asthe employer is interviewing them.

But they're getting it, albeit slowly. According to a new surveyfrom Willis Towers Watson, more employers are bolsteringtheir total rewards programs to attract andkeep talent. Such programs can include not just compensation andhealth and well-being programs, but also retirement and financialbenefits, flexible work programs, recognition programs, learningand development opportunities and career opportunities.

Related: The value of total compensationstatements

It sounds great on paper, but it's a little harder to execute.With so many moving parts, and with so much at stake, just 49percent of employers reported they understand which total rewardsofferings their current employees value. And only 47 percent knowwhich components potential candidates value.

When it comes to recruiting, 54 percent are struggling to hireemployees with critical skills, while 49 percent say they're havinga tough time bringing in high-potential employees.

Still, they're mixing things up on the rewards front, with 66percent saying they've made at least one change to their program;among those who haven't already done so, two out of three areconsidering doing so this year, with the other third consideringchanges over the next three years.

“Given the ongoing changes taking place in today's workenvironment, employers are under mounting pressure to rethink theirapproach to total rewards and move beyond the status quo,” AdrienneAltman, North America Rewards leader, Willis Towers Watson,says.

So what are they changing? Flexibility, with 61 percent considering makingit easier on employees with regard to benefits, workingarrangements and career options either this year or within threeyears.

And within the past three years, approximately 40 percent havebeen promoting employee well-being—and 80 percent expectemployee well-being to increase in importance over the next threeyears, which is driving most employers to say they're consideringchanges to help promote employee well-being over that timeperiod.

Then there's personalized communication, with 67 percent ofbosses expecting to improve that either this year or within thenext three years; 13 percent have already tackled that.

The technology that administers benefits is getting a facelift,too, with 60 percent of employers saying they're working on thateither this year or will within the next three years; 27 percenthave already done so. Fifty percent expect to improve the tech foremployees to use this year, while 37 percent say they've alreadydone that.

And pay transparency is also an issue, with 64 percentconsidering taking steps to improve it either this year or withinthree years; 19 percent have already done so.

Changes are probably (over)due, since only 51 percent ofrespondents even believe they provide their employees with a goodwork/life balance. In addition, just 53 percent say they designtheir total rewards program to help employees achieve well-being.Similarly, 53 percent say they provide meaningful choice withintheir benefit program, and 55 percent believe their programsprovide a consumer-grade experience.

“We recommend employers carefully evaluate their overallstrategy, gain a better understanding of what employees andprospects value and ensure they have the right technology and toolsto deliver a consumer-grade experience to theiremployees,” Altman says.

More ways to boost your competitive recruitingedge:

• 8 ways to make your benefits stand out from thepack
• How small businesses are staying competitive in atough recruiting environment
• 10 ways to reach job seekers in the digitalage