Developing rewards using a holistic perspective

Let’s Talk – Shareen Jolly

How do you keep reward competitive in this job market?

Coming out of this pandemic, you should not assume that your total rewards philosophy and design are still aligned with what employees value the most and still what everyone wants, right?

Employees are re-evaluating their personal lives, what they want professionally.

I think employees are re-evaluating their personal lives, what they want professionally, and what to expect from rewards that you all are offering. I think the question is, you know, how do you optimize your and your employees' needs.

Think of reward strategy from a holistic perspective.

So, it's important to think of reward strategy from a holistic perspective, creating an engaged, enabled work environment for your employees, giving them the right sort of opportunities, giving them the flexibility to cater to their personal needs when a need arises, giving them care-giving benefits so that they don't really have to worry about dependents at home, and can really focus on their jobs when they need to.

Think about what drives your employees, what motivates them.

You really need to think about your employees differently. You need to think about what drives them, what motivates them, what is that true employee value proposition? If you put this decision-making in the hands of employees, and understand truly what drives them or motivates them, that's really going to drive you and your organization to a place of highly engaged workforce and getting them to a place where they're going to be successful and in turn, you as an organization are going to be successful.