Employers need to offer more than basic remuneration these days if they're going to compete in the talent drought; staff need to feel loved. Matt Henkes looks how total rewards can add that missing value.
Shifting market forces and changing workforce demographics have put increasing pressure on firms to be more creative in the benefits they offer to staff. There is a strong emphasis on the alignment of pay and performance, and providing rewards that have real value for staff. And not just in monetary terms.
Recent research suggests that as many as one in three employers are taking up the total rewards approach, with a further fifth planning to implement it in some form over the next year.
