Redefined Rewards Experience

The rewards package is expanding beyond traditional compensation and benefits to include personalized experiences and holistic well-being.

Themes

Authenticity and Transparency Reign Supreme , Experiences Over Material Goods , The Power of Community and Connection

Timeframe

near-term

Subcategories

Corporate Strategy Employee Well-being Workplace Innovation

Impact areas

Compensation and benefits Employee engagement Talent Management

Detailed Analysis

With increasing competition for talent, organizations are rethinking their rewards strategies. The focus is shifting from transactional rewards to a more holistic approach that encompasses career development, well-being, and a sense of purpose. "Once onboard, employees want rewards that enhance their experiences. On the one hand, exceptional employers will develop employer-curated career paths and guidance, and the more transparent and flexible these options, the better." This requires a deeper understanding of individual employee needs and preferences.

Context Signals

Tightening labor markets Increasing employee expectations Growing importance of employee well-being

Edge

Personalized rewards packages will become more common. Companies will invest more in employee well-being programs. Technology will play a key role in delivering customized rewards experiences.

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