Modern economies have undergone profound structural changes, marked by increased complexity and volatility. Alongside, human sensibilities have evolved too, prompting a reconfiguration of rewards and compensation that speaks harmoniously to the ever-changing employee expectations. A large number of professionals, feeling alienated and many of them grieving following the pandemic, have either quit their jobs or are planning to do so over the coming months, a phenomenon tellingly captured as the Great Attrition. This phenomenon of employees contemplating quitting, just when economies around the world are poised to rebound strongly following the pandemic, should worry businesses.
A standard response to people quitting their jobs has been an increase in monetary compensation. Yet, predictably, that has not stemmed the tide of resignations, underscoring the Great Disconnect between employers and employees. Clearly, organizations need a new Total Rewards and Wellness template that is in sync with new employee expectations and priorities. But how can talent and rewards, and wellness leaders redesign strategies to reflect sensibilities, values, and priorities that are set to dominate the post-pandemic ecosystem of work?
To explore the possibilities and brainstorm on Great Connection- a new rewards template for the new normal that aligns business & employee expectations, People Matters Total Rewards and Wellness Conclave 2021 bring together talent leaders, rewards, and wellness experts from across the globe. As a precursor to the event, these leaders come together to discuss and debate on Twitter to explore how to solve the challenge of Great Disconnect and move towards creating a healthier and happier workplace.
To participate in this Tweetchat please use the hashtag #PMTRWC on Twitter and tweet your answers to the respective question number (e.g. Q1/A1)
What is your strategy to augment employee well-being?
READ the November 2021 issue to know from global leaders how to integrate well-being at work