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The Changing Face of Reward – final post and summary – eleventh in a series

Posted by John Branch

John Branch

Here I come to the end of my series that together makes up the whitepaper ‘The Changing Face of Reward’.

Employers have traditionally faced challenges in shaping their reward offer to their key target group, generation Y, whilst also meeting the expectations of existing employees.

Whilst there is a clearly acknowledged priority to compete for young talent, the majority of most organisations continue to have to invest the largest proportion of their actual reward spending on an older employee demographic. This creates a conundrum; how to appeal to the target group whilst still generating the optimum return from expenditure on existing employees. In the context of the far reaching changes in attitudes and expectations for which the Arab Spring has proved to be a catalyst, some employers may increasingly find that their traditional focus on cash dominated reward propositions fall ever further behind the more sophisticated demands of the brightest and best talent in their target employment demographic whilst also increasingly failing to meet the changing expectations of existing generation X employees.

In response, if employers are to be competitive in attracting and retaining talent, they will need to understand what it is that employees want from their total reward contract (and not be afraid to ask if it is not clear) and in response to develop a holistic proposition based on a total reward approach. In addition they will need to review the deployment and implementation of their reward strategy to ensure that it is understood by all and that the reality genuinely matches the promise.

I hope you have enjoyed the Changing Face of Reward. If you would like to get in contact and discuss anything I have spoken about in this series, my details are at the end of the pdf that you can download here.

 

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