Back

Delivering Compensation and Benefits that Matter

Hosted by: Mars

Rewards are in the midst of a transition from the strictly standardised to the highly personalised. This includes delivering compensation and benefits (C&B) in a continuous way that is aligned more closely with individual preferences and based on an employee’s whole contribution.
These were some of the hot topics covered at our ChapmanCG HR leaders roundtable hosted in Singapore by Zou Vivian, Regional Rewards Director – Asia Pacific, and Allen Jiang, Global Rewards COE for APMEA Region at Mars.

Health and Wellness are Key

Progressive organisations are taking employee health and wellness very seriously. Health and wellness functions are being created with in-depth expertise rather than merely as part of C&B. We are seeing examples where specialists with PhDs are being hired to assess the challenges and opportunities in those organisations that are really dedicated to improving overall employee wellness.
These specialists build a business case around the importance of prevention. It’s not just the financial benefit to the organisation in terms of reducing the amount of medical leave, but it also important from a branding/employee value proposition and employee engagement perspective. Although it is still not as commonplace in Asia, there have been marked improvements in the way companies manage stress and mental health, with more organisations adding this to their insurance coverage.

Total Rewards Business Partners

While HR Business Partner is a well-known concept for many organisations, some organisations are expanding on this concept and carving out a group within a Total Rewards team to serve as Total Rewards Business Partners. Whilst the focus was once on harmonisation and standardisation, it is now much more focused on differentiation using segmentation to build effective total reward strategies.

Trends in Total Rewards

Florence Ho, Head of Reward Asia at Swiss Re, spoke about rewards being a very important function of an organisation’s success. She outlined the research that points to eight key trends in total rewards, and noted that gender pay equity is a very relevant and important aspect of C&B.
This is a summary of the research that Florence presented:
Employee Engagement
Rewards and recognition were identified as the top engagement opportunities.
Holistic
Rewards should integrate financial and non-financial elements (recognition, wellbeing, work-life balance, career). They should be designed to make people’s lives better.
Focus on Employee Needs
Employee needs are increasingly important alongside market positioning as a driver for shaping rewards.
Employee Experience
Employees enjoy a consumer-like experience in terms of both optionality (flexible rewards) and delivery through technology.
Recognition Programmes
There is an increasing shift towards global recognition programmes. 
Pay for Performance
There is an emerging focus on significantly differentiating reward for those few employees who have a particularly significant impact on the business.
Executive/Board Transparency
Enhanced disclosure is being requested on a number compensation issues, from variable compensation decisions to individual awards and realised pay.
Gender pay quality
Gender pay equality is on the agenda for many organisations as part of the overall diversity and inclusion focus. Some have discovered appalling gaps and are taking bold actions to correct it. Regulation and media attention for equal pay is rising. Public disclosures showing the pay gap between genders are also increasing.

Responding to Trends Shaping the Future of Work

Florence also outlined how the Swiss Re people strategy has been designed to address trends that are reshaping the future of work, including their strategy for D&I.
Diversity and Inclusion
D&I is part of the people strategy for many organisations. Companies are applying a holistic view with multiple interventions to establish awareness and a mindset change across their organisations. An organisation might begin with a deep analysis to identify gaps and then implement a deeper dive into the causes. The causes can then be categorised into those that are explainable, and those that are unexplainable. After analysis, the Total Rewards team identifies cases for immediate action whilst also building longer-term initiatives to support D&I.
Total Rewards affect the Entire Employee Life Cycle
Total rewards is a highly critical specialism that affects the entire employee life cycle from attraction through to retention and engagement. As HR leaders, we need to focus on how to become more innovative and flexible within the total rewards approach without constantly increasing the salary and labour cost.

Amongst those attending and contributing to the conversation where Suchismita Banerjee from ABB, who we also thank for sharing her insights.
 

Newsletter

Keep up with the latest HR insights and updates.
Sign up

Recent Posts

Key Contributors:

Georgie Chong

Director

Consulting Team
View more
Consulting Team

Georgie Chong

Director

Georgie is a Director with ChapmanCG and is based in Singapore. With more than 15 years of experience in executive recruitment, she works with the team to identify high-calibre HR talent across the Asia Pacific region.

Prior to joining ChapmanCG, Georgie held senior management positions at various international search firms. From 2006 to 2009, she was based in Shanghai where she double-hatted as General Manager and Head of the HR practice group. In her earlier life, Georgie spent time in the financial services sector where she led the Singapore/Asia businesses for well-known international companies. Georgie started her career as a journalist in the energy markets.

A disciplined and focused individual, Georgie is an avid reader and exercises regularly. She counts the analysis of financial statements as a hobby and continues to travel extensively.

EA Registration Number: R1105148 Licence Number: 08S3543
Katherine Qu

Managing Director

Consulting Team
View more
Consulting Team

Katherine Qu

Managing Director

Katherine Qu is a Managing Director based in Singapore. Since joining ChapmanCG in 2014, she has worked with the team across APAC and around the world to identify the top HR talent across Greater China, Singapore, SEA and APAC.

Before joining us, Katherine ran her own executive search business in Beijing focusing on senior executive roles for leading Chinese companies in the consumer, healthcare and real estate industries. She has also held positions with Hudson and Charterhouse Partnership leading the Healthcare practice and HR function respectively. Katherine’s corporate experience has spanned many different sectors with global leaders such as PepsiCo, Pfizer and Lenovo.

Born in China and educated in both China and the United States, Katherine achieved her Master of Business Administration from the University of Maryland. She has worked in China, Singapore and the United States and speaks both Mandarin and English fluently.

EA Registration Number: R1220091 Licence Number: 08S3543

Latest Articles by Katherine

Future of Work 3 April 2022

Navigating the New Normal: Accelerating Leadership Success in Asia

A People & Culture Lab

Katherine Qu
Read
HR Trends 20 December 2021

Spotlight on China

The Chinese economy experienced astonishing growth in the last few decades that catapulted the country to become…

Steve BrownKatherine QuBen DaviesKalkin Cao
Read
ChapmanCG News 17 November 2021

Global HR Update Q4 2021

Our final Global HR Update for 2021 features the year’s hottest topics and trends for…

ChapmanCG
Read
Diversity and Inclusion 13 September 2021

Diversity, Equity, and Inclusion – A Journey of Discovery

Most leading high-performing businesses (large and small) already have strong DE&I programs. Consider the fact…

Katherine Qu
Read
Global HR Updates 25 August 2021

Global HR Update Q3 2021

In this edition of ChapmanCG’s Global HR Update, we call out the latest HR trends around…

ChapmanCG
Read
Diversity and Inclusion 2 June 2021

Revisiting HR Priorities in Times of Change

In 2016, we published the much-viewed Five Areas of Interest for Today’s HR Leader. Only…

Steve Brown
Read
ChapmanCG News 28 December 2020

A look back at top articles from 2020

The Top 5 Trends in German HR in the 2020s The HR trends shaping work…

ChapmanCG
Read
Culture & Business Transformation 15 September 2020

Emotionally Intelligent Leadership (And Why We Need It)

Undoubtedly, effective leadership is critical for achieving business goals and building a healthy and sustainable…

Steve BrownKatherine Qu
Read
Future of Work 29 June 2020

How COVID-19 has Impacted the Workplace Norm in China

With the rise of COVID-19, the world found itself in uncharted territory amid a global…

Katherine Qu
Read
Talent Development 14 January 2020

What Should You Consider for Your Next HR Move?

When considering the next move in your HR career, be sure to take a long-term…

ChapmanCG
Watch
Steve Brown

Regional Managing Director - Asia Pacific

Consulting Team
View more
Consulting Team

Steve Brown

Regional Managing Director - Asia Pacific

As the Regional Managing Director – Asia Pacific at ChapmanCG, Steve Brown finds exceptional Chief People Officer level talent (and their direct reports) for a broad range of clients including complex multinationals going through transformation and growth, to smaller and leaner organisations looking for contemporary and innovative people and culture solutions.

Steve has enjoyed an exciting and meaningful career journey of over two decades in the executive search and talent industry, having lived and worked in the UK, Australia, Singapore, mainland China, and Hong Kong SAR. He has a successful track record including delivering multiple high-profile HR searches both at C-level (group and global) and regional, across various industry sectors.

Steve is also a member of the executive committee at ChapmanCG, responsible for leading our world-class consulting team based across Asia Pacific. His team are located in mainland China, Hong Kong SAR, Japan, South Korea, Singapore, Southeast Asia, and Australia.

Professionally, he is passionate about fostering long-term partnerships with HR influencers and CEOs to help organisations build diverse teams and inclusive workplaces, which ultimately drive innovation and high-performance.

EA Registration Number: R1216206 Licence Number: 08S3543 (SG) EA License 66251 (HK)

Latest Articles by Steve

Future of Work 28 December 2021

Top Articles of 2021

As 2021 finishes and we start to look into 2022, we reflect on some of…

ChapmanCG
Read
ChapmanCG News 23 December 2021

2021 – A Year of Contrasts

Steve Brown, Managing Director APAC 2021 enjoyed a remarkable rebound from the challenges of the…

Steve BrownStefanie Cross-WilsonTim Spriggs
Read
HR Trends 20 December 2021

Spotlight on China

The Chinese economy experienced astonishing growth in the last few decades that catapulted the country to become…

Steve BrownKatherine QuBen DaviesKalkin Cao
Read
ChapmanCG News 30 November 2021

Ageism in the Workplace

In partnership with the Center for Creative Leadership and Thrive HR Exchange, ChapmanCG recently led…

Steve Brown
Read
ChapmanCG News 17 November 2021

Global HR Update Q4 2021

Our final Global HR Update for 2021 features the year’s hottest topics and trends for…

ChapmanCG
Read
Diversity and Inclusion 2 June 2021

Revisiting HR Priorities in Times of Change

In 2016, we published the much-viewed Five Areas of Interest for Today’s HR Leader. Only…

Steve Brown
Read
ChapmanCG News 12 May 2021

Global HR Update Q2 2021

The future of work is a consistent theme in our conversations with HR contacts around…

ChapmanCG
Read
Culture & Business Transformation 14 April 2021

Redefining the Employee Experience for Today’s Workforce

The past few months have seen the world separated by travel bans and social distancing…

Steve Brown
Read
Future of Work 20 January 2021

The Open Talent Market

Schneider Electric is Revolutionising the Future of Work.

Steve Brown
Read
ChapmanCG News 28 December 2020

A look back at top articles from 2020

The Top 5 Trends in German HR in the 2020s The HR trends shaping work…

ChapmanCG
Read