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Total Compensation Management

Total Compensation Management

Employers are facing pressure to deliver the right compensation to the right employee segments in the right way. At the same time, organizations are looking to improve the efficiency and effectiveness of their Total Rewards programs overall. In the case of compensation, the stakes are especially high as base pay remains the leading driver of retention and attraction for employees globally. Employers need to make critical decisions regarding how to allocate their often tight compensation budgets in a way that delivers the best return for the organization, and attracts and retains the talent required to achieve their future business objectives. As organizations begin to examine their compensation strategies and processes, they find considerable room for improvement.

In addition, a comprehensive Total Rewards strategy can help organizations vary the size and allocation of their total budget in line with business needs, financial constraints and talent requirements. Employers can better align rewards with employee preferences to get the best value for their spend, promote specific behaviors and drive higher productivity. And they have the flexibility to segment and differentiate rewards for different employee groups or parts of their business.

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Total Compensation Management
This webcast identified growing trends in compensation management and offered practical tips on how to develop a competitive compensation strategy and design. We concluded the session by sharing some best practices on communicating compensation to employees and how HR Software can help.
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