Like all things that need to be regularly upgraded, World at Work is attempting to redefine Total Rewards. As a part of the process,they have launched a survey to help gather views. The survey contains interesting questions like:
- Should performance mgmt be a part of total records?
- What term should total rewards be replaced with?
- What is the most important change you have seen in total rewards in the past 3-5 years?
- What will be the most important change in total rewards in the next 3-5 years?
They are interesting questions to think about. My views? While the overall concept of total rewards hasn’t changed dramatically, the meaning of each element has.
As priorities shift from compensation and benefits to work life, development, there still exists a stark difference in how the elements are viewed across geographies. With business shifting globally, it is important to figure out what priorities a certain geography places over another. For e.g.: Work Life may prove to be a higher priority in the States as compared to in Asia.
Go take the survey now and let me know what you think!
It will be interesting to see what World at Work comes up with at the conclusion of this exercise.