Limited reward budgets challenge organizations to allocate monies in ways that appropriately recognize employees’ varying levels of contribution and performance. Yet failing to do so can mean a less-than-optimal return on what is typically a very sizable investment in the workforce.
Towers Watson’s Total Rewards Optimization tool helps your organization find its total rewards sweet spot — the intersection that aligns what and how much you spend with what your employees value most and least across the rewards you offer — while uncovering how reward changes affect their behavior and performance on the job.
Total Rewards Optimization uses a rigorous, quantitative analytic process to help answer three critical questions:
- What’s the right level of total investment in your workforce, given financial, talent and performance needs and goals?
- How should you allocate that total across your programs to promote critical behaviors like retention and engagement?
- To what extent should your investment and allocation strategy change for different workforce segments, for instance, across age groups, job levels and functions, skill sets, locations and performance categories?