Rewards Transformation – the need to look beyond traditional Compensation & Benefits approaches


Gilbert Renel
Determining the return on investment for compensation and benefits – probably the largest operating expense for many companies – has always been murky and suspect. Add in the costs of the other areas that make up the total rewards spending of a company, such as training, tuition reimbursements, flexible work arrangements, and a host of other tangible and intangible costs, makes the overall picture even less clear. Hence, the very real need for a new way of looking at how total rewards are designed, and drive measurable business value: Rewards Transformation. In the first part of our Total Reward briefs we will look at the building blocks of Total Rewards programmes and compare them with participants' own experience of practices in their organisations. Concrete implementation steps and client examples will help participants visualise clearly what an organisation, be it small or large, needs to do in practice to carry out a Rewards Transformation exercise. We will debate around participants' views of bottlenecks they anticipate in their past or present organisations for a Rewards Transformation.

(Part I) : 10.02.2010
(Part II) : 23.02.2010

Agenda
Part I: Compensation & Benefits vs. Total Rewards – what do we mean?
The flows of traditional approaches to Compensation & Benefits
The picture before and after Total Rewards Transformation
How does Rewards Transformation work in practice?
Part II: Brief recap from Total Rewards part I brief
The key steps of a Rewards Transformation cycle
    – Defining business goals and constraints
    – Implementing "rewards dialogue"
    – Designing rewards packages and selling measurable objectives
    – Measuring achieved v/s expected results
FAQs on Rewards Transformation

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