27 Jan 2021

Report: Reward Survey Report

This survey undertaken by uFlexReward takes the pulse of current reward practices. It asked reward practitioners in global firms to state if they had all reward on a single platform and if each category of reward was in a single platform. It also asked about the level of data quality in some strategic reward processes.

Key findings

97% do not have access to benefit data for all employees in all countries.
93% do not know their pension policies and individual employee contribution amounts.
90% do not have the ability for HR, reward, or line managers to search for and model all forms of reward for any employee in any country and any entity in real-time. Or, see the impact of a change in any reward policy to any employee.
73% do not include all forms of reward within the pay equity analysis.

The survey shows that progress towards automation and digitisation of total reward data is slow. However this is expected to change quickly due to pressure from: Shareholders, who want efficiencies in all areas of spend; employees, who need far greater personalisation in reward; wider society, that is increasingly demanding data and action on pay equity.