An HR Leader’s Guide to Compensation and Benefits
Traditionally, many rewards functions have offered compensation and benefits that are ‘one size fits all’. However, as we have seen in the consumer sphere, there has been an evolving need to provide more choice tailored to individual needs. In the thick of rewards and compensation season, we bring you a round up of some of our most insightful HR leadership content addressing rewards, benefits and compensation in the workplace.
Modern rewards strategies can play a key role in employee engagement and helping employees to feel valued. This can range from everything from salary, pension plans and stock options through to wellness programs. This summary of a ChapmanCG HR leaders’ roundtable co-hosted by TomTom explores rewards and the future workforce.
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.
Discussions around ‘Workplace of the Future’ kickstarted this ChapmanCG’s HR leaders’ roundtable, co-hosted by DSM. Tracy Goh‘s summary of these roundtable discussions covers compensation and benefits, and their place in the future of work. It is always a two-way process in the rewards journey. Top-down; leaders play a critical role in being forward-looking and ensuring the readiness of the company. Taking responsibility in driving the purpose, instead of communicating it as ‘just another HR programme’. Bottoms-up; employees need to take ownership of their own development plans, have open and frequent feedback to value-add and drive synergies in the teams. Click through to read more.
Podcast: The Future of Employee Engagement
Rewards and compensation are ineffective without positive employee engagement, and positive engagement can often mean that employees’ greatest reward is having a great place to work. Employee engagement is evolving rapidly as HR leaders harness its value for everything from business performance to change programs. Mohit Misra, VP Global Head of Talent Management, Acquisition, OD and Diversity at The Chemours Company, shares his experience of transforming organisational health and his predictions for future trends in this podcast interview with Alan Mait.
Podcast: Overhauling Performance Reviews
Compensation and benefits go hand-in-hand with talent management and performance reviews. Finding a way to accurately measure performance, give meaningful feedback and compensate accordingly can collectively have a positive impact on productivity. The traditional performance rating system – with its annual goal setting and review period – is now considered ineffective by many HR leaders.
Sibel Bostanci Celebi, Regional Learning & Development Leader for the Middle East-North Africa-Turkey at GE Corporate Leadership, discusses with Abby Walters how their organisation is faring after they stopped traditional performance ratings.