Business leaders recognise that to keep their best talent, they must invest in competitive compensation and benefits packages. These benefits are often communicated to employees and prospects as part of a Total Rewards package. Total Rewards programs offer visibility to employees into the range of compensation and benefits their employers offer. The effectiveness of a Total Rewards program relies on thoughtful design and communication. With the significant investments companies make in their Total Rewards packages, understanding how to develop truly impactful and meaningful programs that drive the desired outcomes for the company and its employees remains a topic for interest within companies of all sizes.
This summer, the Incentive Research Foundation and Insperity partnered to survey 1,200 executives who use Total Rewards to uncover best practices. In this study, top performing companies were examined to better understand winning tactics related to designing and managing Total Rewards packages. The study explores organisational performance, culture and talent strategy, elements of Total Rewards offered (cash and non-cash rewards and benefits), key outcomes driven by individual components of Total Rewards, and communication.
The research makes it clear the keys to unlocking maximum impact from a Total Rewards program lie in ensuring the program is deeply embedded within the company culture, selecting specific Total Rewards components with a clear understanding of the expected business outcomes to be impacted, and communicating intentionally and regularly.
The learnings from this research can be used by Total Rewards program designers who want to enhance the return on investment for improved employee motivation and, ultimately, business results.
Business leaders recognise that to keep their best talent, they must invest in competitive compensation and benefits packages. These benefits are often communicated to employees and prospects as part of a Total Rewards package. Total Rewards programs offer visibility to employees into the range of compensation and benefits their employers offer. The effectiveness of a Total Rewards program relies on thoughtful design and communication. With the significant investments companies make in their Total Rewards packages, understanding how to develop truly impactful and meaningful programs that drive the desired outcomes for the company and its employees remains a topic for interest within companies of all sizes.
This summer, the Incentive Research Foundation and Insperity partnered to survey 1,200 executives who use Total Rewards to uncover best practices. In this study, top performing companies were examined to better understand winning tactics related to designing and managing Total Rewards packages. The study explores organisational performance, culture and talent strategy, elements of Total Rewards offered (cash and non-cash rewards and benefits), key outcomes driven by individual components of Total Rewards, and communication.
The research makes it clear the keys to unlocking maximum impact from a Total Rewards program lie in ensuring the program is deeply embedded within the company culture, selecting specific Total Rewards components with a clear understanding of the expected business outcomes to be impacted, and communicating intentionally and regularly.
The learnings from this research can be used by Total Rewards program designers who want to enhance the return on investment for improved employee motivation and, ultimately, business results.
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