With Total Rewards serving as the newest recognizable phrase in the compensation world and strategic advisors to the CHRO, re-shaping the employee experience while advancing the organization’s mission has become an exciting and overwhelming challenge to these executives.
For companies to achieve innovative and generous compensation and benefits offerings, Total Rewards executives must urgently evaluate competitive salary research, conducting employee surveys, sourcing innovative and appropriate outsourcing partners, creating unique package designs, gaining organizational buy-in, addressing cross-generational expectations, and effectively communication their total rewards elements to existing and potential employees.