Our significant experience in total rewards combined with our global reach, data and access to extensive world-class consulting talent offers a holistic approach that solves your toughest organizational and talent rewards challenges.
Develop executive rewards that attract leaders and keep them focused on your business strategy.
Attract, motivate, and retain people with the right financial and non-financial rewards packages
Improve sales behaviors and drive bottom line results with an effective sales incentive program.
Design, analyze and measure work to get the right people in the right roles to make your organization more effective
Our clients use our trusted job evaluation methodology to evaluate the size of their roles and to support the design of new ones, if needed, by building everything from job documentation, job family descriptors and complete career paths. We’re by your side for the whole talent journey, giving you a full view of what you’re spending and what value you’re getting back — a complete picture that’s hard to find anywhere else. Our comprehensive global reward databases provide clients with the most relevant and timely information available to ensure that clients are aligning their reward levels to appropriate external markets.
When you’re paying fairly, both internally and externally, it makes people more productive and they have greater trust in your leadership—making your teams more engaged, reducing turnover. Drawing on our market-leading work measurement methodology, our knowledge of engaging reward program design, and knowledge of local, national and global regulations, we help you:
When we say “total rewards,” we mean everything with value that a company gives employees in exchange for their work. So, a total rewards program includes compensation elements, such as base salary, long- and short-term incentive pay, bonuses, stock-based awards, commissions and temporary pay. (This is what we refer to as “total compensation.”)
But a total rewards program also consists of benefits and nonfinancial rewards and employee recognition. Benefits may include health insurance, vision and dental insurance, retirement plans, vacation time, long-term insurance, disability insurance, financial counseling and more. Nonfinancial rewards include wellness programs, flexible working practices, training and career development. Noncash rewards are particularly meaningful in times of uncertainty and change.
Employee recognition programs are a type of reward that also plays an important role in employee satisfaction and retention. Recognition can take many forms, including recognition for length of service, accomplishments, noteworthy long-term customer service and much more. Rewards can include thank you notes, gift certificates, staff appreciation events and anything else you think would help employees feel valued.
When total reward programs align with your organization’s culture, they can be powerful tools for talent engagement. In fact, they often have a bigger impact than compensation programs.
A total rewards strategy shows how much your organization values its employees. Showcasing your total rewards strategy to current and prospective hires has a number of benefits:
All of these benefits make it more likely that employees will be happier in their work. In turn, that leads to employees who are more productive and less likely to look for employment opportunities elsewhere.
Yes - money can’t buy employee engagement. But a total rewards strategy that includes both financial and nonfinancial components is a critical part of building an engaged workforce. Well-designed total rewards programs attract, motivate and retain the right talent at every level of your organization. This is why companies should opt for total rewards programs over traditional compensation and benefits programs.
Total rewards programs also play an important role in your organization’s culture and reputation among employees and prospective hires. To be competitive in today’s market, organizations need rewards strategies that rival those of their peers. But they also need flexibility. The more flexible your total rewards program, the more you can cater to the individual needs of your employees.
Investing in a total rewards strategy also incentivizes employees. When you build a total rewards strategy, you reach employees who aren’t as excited about traditional compensation and benefits programs. And when you link benefits to performance, you’re raising performance at both the individual and organizational levels.
Employees who feel that they’re contributing to the organization’s overall value will feel greater purpose in their work. They’ll also feel more committed to your organization.
To ensure companies get the most value from their total rewards programs, they must communicate the value of these programs to employees. Personalized reports that show employees what they’re receiving demonstrate that you’re investing in them beyond a biweekly paycheck.
A total rewards program is a strategy designed to build a motivated, engaged workforce consisting of top talent. A total rewards program includes all forms of monetary and nonmonetary compensation and benefits for employees. A typical total rewards program consists of five elements:
In short, a total rewards program is a comprehensive package of an organization’s benefits, rewards and incentives - all the ways your company rewards employees for their hard work.
A total rewards program is beneficial to organizations in a number of ways. Here are just a few.
Employers want to be known as an employer of choice. And today, competitive compensation isn’t enough to woo employees. Total rewards programs are a way to show employees how much they’re appreciated. That’s because they go well beyond financial rewards and address more of employees’ individual needs.
Current employees and prospective hires want to know that their employer is interested in their growth. Employees whose employer is investing in their well-being are more likely to feel connected to their employer. In turn, they’re more likely to be more productive. They’re also less likely to look elsewhere for employment.