Report: Mapping the new Total Rewards journey
The 2018 Modernising Total Rewards Survey reveals how organisations can invest strategically in Total Rewards programmes to ensure they have the biggest impact on people and deliver the best financial return.
This Willis Towers Watson report finds that, in today’s agile, digitally disrupted workplace, Total Rewards are critical to a company’s ability to compete for talent. However, many programmes are failing to evolve quickly enough to keep pace with the evolving workforce.
- While most employers continue to follow the status quo, leading organisations are using breakthrough approaches to Total Reward design and delivery in order to differentiate their programmes and stay ahead of competitors.
- Forward thinking organisations think strategically and incorporate all areas of Total Reward – pay, benefits, wellbeing and careers.
- Those employers leading the way use analytics to better understand the expectations and preferences of their workforce, and use technology to deliver a consumer-grade Total Rewards experience.
- The report considers five critical pathways to meeting employees’ Total Rewards expectations: understand what employees value; consider employee wellbeing a top priority; make effective use of technology: measure cost and impact of programmes; and prioritise fairness, purpose-driven benefits, and inclusion and diversity.
This Willis Towers Watson report contains responses from more than 1,600 organisations across 44 countries.