Analysis – Page 5
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AnalysisHow can employers use total reward to align staff with business goals?
Need to know: Providing employees with shares, or aligning financial reward with business performance, can give staff a vested interested in organisational goals.Aligning recognition with the employer's values and objectives can influence employee engagement and behaviours, but should be carefully considered so as to avoid damaging objectives.Using effective communications and ...
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AnalysisWhat employees want: How to get the most value from a benefits offering
Need to know:Surveys, exit interviews and benefits usage data are all constructive ways of finding out what staff appreciate, but employers should be aware that some valuable benefits might still fall by the wayside.Eliciting feedback and suggestions from employees who have actively used less widely understood products, such as group ...
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AnalysisHow can benefits packages be tailored to meet the needs of both large and small organisations?
Need to know:Large employers are likely to have more resources, time and expertise to dedicate to building impressive reward packages, but smaller organisations can lead in innovation and communication.Smaller employers are arguably able to gather and respond to feedback in a more effective manner, and can therefore make quicker progress ...
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AnalysisInfographic: Why employers offer benefits, and how they fund them
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AnalysisHow can benefits packages help maximise employee performance and potential?
Need to know: Recognition can help reward positive behaviour, but health, wellbeing and environment are factors that facilitate strong performance in the first place.Providing nutritious food and ensuring employees take proper breaks can boost concentration and wellbeing.Looking at the employee holistically will help organisations understand the various influences that might ...
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AnalysisHow can employers put their core benefits in the spotlight?
Need to know:Core benefits can be costly to provide, but are an important aspect of promoting employee wellbeing and financial protection.Employers must demonstrate the relevance that these benefits hold for employees, and show how they can be used to their advantage.Targeted communication campaigns, delivered in ways that employees will appreciate, ...
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AnalysisBig city benefits versus rural reward: How location impacts benefits strategy
Need to know: While there are universal hygiene factors, the employee experience can vary significantly in different locations.Taking into account commuting times, wellbeing stressors, pay levels and lifestyles, employers can create a truly engaging benefits strategy.Some perks are universally popular, but need to be tailored to local needs, or communicated ...
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AnalysisHow can employers use reward and benefits to address sustainability?
Need to know:Employers need a strategic and holistic approach when addressing sustainability; this should align with organisational values and corporate social responsibility.Intrinsic rewards can often be more motivational than extrinsic, as part of a recognition programme based around sustainability.Employees’ personal values and objectives should feed into the organisation’s overall approach ...
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AnalysisThe bigger picture: Total reward in numbers
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AnalysisHow can employers benchmark their total reward strategy?
Need to know:Benchmarking beyond quantitative pay figures can prove difficult, but employers need to consider a wide range of elements when measuring the success of their total reward package.External comparisons are important, but canvassing internal employee opinion is also integral when deciding on changes and shaping strategy.When updating a total ...
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AnalysisHow to tailor a total reward proposition for a modern workforce
Need to know:A successful total reward proposition should reflect employee needs on an individual basis, rather than simply being segmented by demographics such as age.An employer's core culture and values should underpin and align with its total reward strategy.A social contract can help build transparency, ensuring that employees know what ...
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AnalysisTotal reward trends: What will shape benefits in 2019 and beyond?
Need to know:Flexible working continues to be a top trend for 2019, as work-life balance remains a key priority for employees.Technology can help create the consumer-based experience that employees increasingly expect from their interactions with benefits packages.Employers must take into account changing attitudes to career trajectories, and the presence of ...
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AnalysisHow can employers cater to multi-generational workforces in their reward packages?
Need to know:Having a multi-generational workforce means catering to employees at every stage of adult life, but doing so can provide important dividends.Disability and care responsibilities are among the core issues for an ageing workforce and those in the 'squeezed middle', but resorting to stereotypes should generally be avoided.Wide-ranging packages ...
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AnalysisHow can a benefits strategy foster and celebrate cultural diversity?
Need to know:Diversity of experience, opinion and background can have a significant effect on profitability, and diverse organisations are more likely to foster employee engagement.Mentoring and sponsorship can help to ensure that individuals are able to progress, despite potential barriers due to ethnicity.Open communication, among employees and between staff and ...
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AnalysisWhat actions should employers take to prepare for Brexit?
Need to know: Whatever the outcome of negotiations, Brexit will have a significant impact on organisations' ability to attract and retain the talent they need.Employers should consider the ways in which their workforce might change, and consider whether their benefits proposition needs to shift.The war for talent may drive up ...
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AnalysisCreating a reward strategy to support the people and business agenda
Need to know:Not all staff are happy about going to work at present, and this lack of enthusiasm is impacting productivity.The good news is that it is possible to improve productivity by creating a different culture. The secret is imbuing staff with a sense of purpose, using reward strategy as ...
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AnalysisHow to structure a competitive reward strategy for different employee profiles
Need to know:A reward strategy encompassing different employee profiles should be based on a set of core principles that can be tailored to suit varying employees’ wants and needs in terms of benefits.Employers can collect employees’ opinions on what benefits are most valued using employee surveys and face-to-face focus groups.Employers ...
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AnalysisHow can employers build personal learning and development into a reward strategy?
Need to know:Learning and development opportunities that focus on employees’ personal interests and goals can support employers' employee engagement, recruitment and retention strategies because employees can see they are being invested in as individuals.Employers can offer access to personal learning and development, such as language classes or a cookery course, ...
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AnalysisHow can employers' ensure their benefits strategies are future proofed?
Need to know:Future-proofing a benefits strategy needs to take into account an organisation's wider business goals, macro-economic trends and legislation.Benefits technology needs to be factored into any strategy, including the potential for artificial intelligence.Any strategy needs to be adaptable and able to react to changing needs and circumstances.It is a ...
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AnalysisWhat can employers learn from Facebook's and Netflix's benefits strategies?
Need to know:Many organisations today offer enhanced work-life balance benefits such as bereavement leave, 12-months' paid parental leave, and unlimited holiday.While these benefits are not industry-specific, an employer looking to implement similar schemes must assess if they suit the work and job roles in their organisation, as well as if ...