Strategic Global Rewards: A ChapmanCG HR Exchange
Earlier this month we facilitated the first European ChapmanCG Rewards HR Leaders Exchange of 2021 bringing together, as always, a diverse group of rewards professionals from across Europe representing a range of different industry sectors.
With businesses required to find solutions to an increasing number of complex people challenges, the rewards function now has an opportunity to re-assess and innovate in all areas from compensation and benefits, operationalising well-being and further developing a sustainable performance culture.
Here are some of the key points from what was a highly insightful, lively and open discussion.
The Remote Workforce Conundrum
- Moving forward, companies will be creating a workforce with locally driven interventions, supported by companywide guiding principles aligned with both values and commercial sense.
- The solutions will be varied taking into account new habits and employee expectations. They will need to take into account where the talent is based and physical office locations, all with the focus on what’s right for both the organisations and the employees.
- Now the discussion has been accelerated, it’s a unique opportunity to drive a constructive, progressive and tailored approach offering appropriate choices and flexibility that acknowledge the needs and motivators of employees.
- From an EVP perspective there is a unique opportunity to showcase a tailored approach offering appropriate choices that acknowledges that needs and motivators are aligned to individual employees.
- The consistent theme was, and arguably has always been, to ensure that local leaders have the resources, technology and ability to act effectively.
- A few good practical points on wellness
- Breakdown hierarchies: Empowering teams and encouraging people across the organisation to talk and simply share how they are feeling e.g. pick up the phone, or contact employee assistance.
- Ensure leaders show vulnerability and talk candidly about how they are feeling or share their concerns, reminding folks it’s okay to not be ok.
- Find ways of celebrating success no matter how big or small e.g. anniversaries, fitness milestones, baking challenges…
- Financial wellness is also increasingly common and part of an integrated wellness offering.
- Providing information on free school /children activities to help inspire and support those that are home schooling.
- Historically, ad hoc leave has been based on specific events or scenarios. Today there is a need to be flexible on leave and allowances. Leaders and businesses need to adapt their processes on things like compassionate leave versus parental or sick leave. We know the majority of people will do the right thing if they feel they are being treated in the right way, so do we need to categorise or generalise as much as we have done historically?
Doing the right thing by people gains trust and engagement, communication is key, as is feedback and ongoing agility in terms of how and what we offer people in organisations.