New rewards: Personalised, agile and holistic has been saved
New rewards: Personalised, agile and holistic
Leveraging their power as individuals, employees are asking for more personalised, flexible and holistic rewards, including a focus on fair and open pay.
Eighty-five percent of South African respondents rate this trend as important, with 69 % of respondents rating themselves as not ready for it.
Sixty-one percent of respondents state that their organisation currently gives an annual bonus or offers incentives to employees as its rewards strategy.
There seems to be a feeling among employees that rewards are not adequately linked to performance and not tailored to be effective in aspiring personal performance, especially amongst non-C-suite employees.
Key Take-outs:The bottom line
We recommend the following actions that organisations can take to address the opportunities and challenges of this trend
• Introducing greater flexibility into reward models
• Placing a greater emphasis on ethical reward practices
• Real time performance feedback
Please click here to view the Global Human Capital Trends Report.