More Than Perks
THE IMPORTANCE OF AN AUTHENTIC TOTAL REWARDS PHILOSOPHY
A total rewards philosophy plays an important role in an
organization. Its overarching objective is to align the
mission, values and goals of a company with its rewards
program to ultimately drive performance. While this
may sound straightforward on the surface, there are other com-plex
factors to consider. For instance, the philosophy must also be
relevant to the workforce, and in order to fulfill its true purposes,
it must also be communicated clearly.
Research indicates only two-thirds of companies have some
form of a total rewards philosophy in place. Of those, 60 per cent
have their philosophy in writing, while only 30 per cent feel they’re
communicating that philosophy effectively. What, precisely, is
holding companies back from developing a documented and well-communicated
total rewards philosophy?
According to a poll conducted by HRsoft and The Talent
Company, 36 per cent of participating HR and total rewards
By Kathleen Jinkerson
perspectives
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HRPROFESSIONALNOW.CA ❚ CONFERENCE ISSUE 2019 ❚ 55
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