Realising the full potential of hybrid working with a new approach to reward and benefits
One of the most significant outcomes has been a widespread shift to more agile, hybrid or flexible working models. Many organisations are now focused on how to blend the advantages of remote working with time spent at business premises, to the benefit of both employees and employers.
Hybrid working has the potential to improve inclusivity, redefine skills needs and reimagine job design. Crucially, in the long term it will enable employers to create more agile working models that will help them to respond to wider business issues such as talent recruitment and retention. For employees, it can open up new career opportunities, offer a better blend between work and family life and improve productivity.
But realising the full potential of hybrid working requires a new approach to reward and benefits, from ensuring fairness between hybrid and non-hybrid working roles, to introducing benefits that will appeal to employees embracing more flexible lifestyles. In parallel, wider factors such as social responsibility, climate change and the rise of purposeful business models are also contributing to the need for change.
To understand how businesses are identifying and addressing these needs, REBA hosted a round table with 14 senior reward and benefits directors from multinational and UK-based companies across a mix of sectors, including retail, financial services and manufacturing. We heard about the new priorities and policy considerations they are facing as their organisations adopt hybrid working models, and how they are addressing those in practice.
We’ve distilled the intelligence gathered in that session into our guide to How to Select Benefits for a Hybrid Workforce, together with YuLife, including the collective challenges and emerging ideas that employers are developing to create a reward and benefits strategy fit for long-term hybrid working. As practitioners navigate significant change, here is practical guidance and shared experiences that will support our whole reward and employee benefits community.
Download our guide: How to Select Benefits for a Hybrid Workforce.
The author is Maggie Williams, content editor at REBA.
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