Article: Shifts within Total Rewards in 2017

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Shifts within Total Rewards in 2017

As companies shift into a new phase of designing holistic Total Rewards Programs, they will need to look closely at how employee preferences are evolving
Shifts within Total Rewards in 2017
As Robert McNamara, the Former American Secretary of Defense said ìBrains, like hearts, go where they are appreciated. The definition of “appreciation” in a corporate context manifests itself in multiple forms, the most prominent one being through Compensation. ‘How’ and ‘How much’ to compensate have been the recurring questions for deliberation in organizations around the world. Employers need to constantly re-evaluate their approach in answering such questions while assessing the key factors driving this need, like:  Disruptive business models and changing organizational structures Shifting workforce demographics and needs including the increasing proportion of Millennials, surging focus on Diversity & Inclusion; and rise of the ‘Gig economy’ Increase in employee mobility Dichotomy of expectations: demand for flexibility in choices vs. the need for simplicity Easy access to information and comparison points Changing l...
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Topics: Benefits & Rewards, Compensation & Benefits, #TotalRewardsTrends2017

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