Next week on June 14 at noon EDT (my daughter’s birthday BTW – hey honey – happy birthday! She doesn’t read my blog but I’ll get credit for the shout out I hope...) I’ll be hosting a session for the Human Capital Institute on total rewards and how to look at your organization’s planning and decisions around influencing employee behavior. You can sign up (hope you do) here – noon EDT on June 14th.
Total Reward = Total Costs?
Total Rewards has been somewhat of a buzzword – and somewhat of a misnomer. In most cases the total rewards discussion is really about repackaging “total employee costs” in a new light with new graphics and new spin. In other words – take what we spend on employees, change the title so it reads like something the company is “rewarding” the employees for, and viola – we’ll make the W-2 folks feel guilty for complaining about their low salary.
I know there are many who do the total rewards thing right – but many, many companies aren’t changing the way they view rewards in their organization – they are just changing how they communicate their costs.
So what am I going to cover?
A lot really. I’ll hit on the big stuff – how compensation is pretty stagnant. How the economy is making every organization look at the way they engage their employees with a much different filter. I’ll talk about other ways to influence behavior (other than compensation.) I’ll highlight how compensation (monetary that is) can decrease performance. I’ll talk about how cash compensation is only one part of a reward strategy and depending on goals, organizational level, and time – how you should adjust what you think of in terms of rewards. I’ll offer up a way to help you make decisions on where to spend money on compensation, where to use recognition and when to look at non-cash incentives. It’s a pretty all-inclusive model if I do say so myself.
While the session will probably hit on a lot of what I’ve written about on this blog over the past 5 years – it is all condensed into a pretty short window on June 14th. Think of it like a 1-hour incentive energy drink... one shot without that bloated feeling.
I hope you tune in – and I hope you engage.