We interviewed 20 total rewards leaders to discover how their businesses are evolving, whether their total rewards fulfill current needs and how they are preparing for future challenges.
The total rewards leaders interviewed represent large, complex organizations across various industries, many of which have global footprints. Several of these organizations are part of the Global Fortune 100 with revenues exceeding $50 billion. And each significantly impacts society and the economy through their products, services and business practices.
Drawing on the experiences and perspectives of these total rewards leaders, this white paper offers guidance for organizations seeking to optimize their total rewards strategy and drive business value.
Moving away from “fighting fires” and toward intentional planning and decision-making, the white paper reveals that total rewards leaders are focusing on seven key areas:
Focus Area #1: Using different rewards and labor strategies to gain an edge
Getting creative in how they customize rewards to compete for talent.
Focus Area #2: Listening with intent
Adopting a new mindset around employee listening to stay on top of changing expectations.
Focus Area #3: Rethinking market alignment
Rethinking what it means to be "market aligned" and what that role plays in pay and benefits decisions.
Focus Area #4: Striving for transparency
Shifting how they approach total rewards communications, including how to achieve pay transparency.
Focus Area #5: Devising new ways to tackle cost management
Being more intentional about how money is spent, rather than focusing exclusively on cost-cutting.
Focus Area #6: Driving productivity
Rethinking how they can improve the productivity of employees and deliver better business outcomes.
Focus Area #7: Positioning total rewards as a strategic function
Addressing how to position themselves as strategic contributors to broader business outcomes rather than being pigeonholed into a reactive, administrative role.
