Employees are looking for more flexibility at their workplaces rather than concentrating only on salaries and benefits packages. Because of the disruption due to COVID, people want to retain flexible working hours, health benefits, and a good number of vacation days. Above all of that, workers are more serious about motivation and empathy than ever before. If you treat your employees like a part of your family, they will deliver you stellar performance and don't think of leaving your organization. You have to be flexible and bring changes in the work processes to synchronize with the changing business needs. Flexible rewards for employees help you to unlock true potential and provide a phenomenal total rewards experience. Let’s look into the Total Rewards Components that need to be revamped for a better experience. 1. Pay: Companies are becoming more flexible in providing compensation benefits and hikes in salaries. In today’s scenario, the achievement of team goals and honing
Workplaces are going through a dynamic transformation. Moreover, with the changing scenario, HR functions are evolving massively. It is critical to creating a more employee-centric work environment- one where employee engagement takes the centre stage. However, none can talk about building employee engagement without having an effective reward and recognition program. Every organization needs a strategic reward system for employees that address areas, including compensation, benefits, recognition and appreciation. Creating a sound employee rewards system from scratch is quite a tough and time-consuming process. Fortunately, since the up-gradation of technology and the massive inundation of cloud-based HR tools, you will find many employee reward products available in the market that can serve the purpose. In a way, this can make the entire employee recognition process simpler, more structured, and effective. Moreover, admin time can be hugely reduced. Hence, employee recog