TOTAL REWARDS PHILOSOPHY: CRITICAL TOOL TO ENGAGE EMPLOYEES
Thursday, 11 March 2021 by admin
Do Your Employees Value Your Total Reward? Employees felt they were not paid competitively and that the bonus opportunities available to them were not incentivizing. Companies spend a lot of time and money developing the total rewards program. Regardless their effort though, employees did not feel their reward programs were motivating. So, What Your Company
- Published in Better Insight, Reward
DESIGNING TOTAL REWARDS
Thursday, 11 March 2021 by admin
People are the most valuable asset of any business, but they are also unpredictable and difficult to manage. Since humans are complicated, managers or employers often feel that to set people to behave a particular way is beyond their control. First thing first, we need to know about: What Employers are Paying for? Employers are
- Published in Better Insight, Reward
WHY REWARD MANAGEMENT IS IMPORTANT
Thursday, 11 March 2021 by admin
Basically, employee reward is what the company gives to its employees. Employee reward which include in labor costs can account for as much as 70% of total business costs, include employee wages, benefits, payroll or other related taxes (Paycor, 2020). Labor cost percentage range between 20 to 35 percent of gross sales. Percentages vary from
- Published in Better Insight, Reward
THE FUTURE OF WORK: EMPLOYEE EXPERIENCE
Thursday, 11 March 2021 by admin
EX is companies and their people working together to create personalized, authentic experiences that ignite passion and tap into purpose to strengthen individual, team, and company performance (Dhingra et al., 2018). EX can be defined as a holistic view of employees’ perceptions of the workplace. Employees’ perceptions are influenced by their experiences, from recruitment to
- Published in Better Insight, Employee Experience