Your reward strategy should create a comfortable environment by providing transparency and real value.
A transparent workplace is defined, simply, as an environment that ‘operates in a way that is open and honest between management and employees.’ This type of workplace increases trust, builds relationships, increases productivity and boosts innovation as employees can communicate effectively and feel comfortable in their surroundings.
Taking this further, when you have a global workforce, it’s important that you ensure transparency across all offices or locations. Before doing so, it’s imperative that you consider:
- What are your corporate goals?
- Will you link to performance?
- Who will reward?
- How long will it take for employees to receive their reward?
- Will cultural differences affect your reward scheme?
Find out more about five key considerations for global reward managers.