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
Salary isn’t the only type of compensation employees should receive. As is with most companies, in addition to their salaries, employees receive health and dental benefits, paid leave, and retirement benefits. However, not all get dedicated rewards system, and the greatest example of these benefits include Unilever employee benefits . Employees of the workplace have access to employer-provided insurance, like life insurance or disability insurance. Some employers provide more unusual rewards, like tuition reimbursement, etc. Most of the employers are now providing total rewards statements to show employees the value of all their compensation. These statements are important for any business that has employees and the human resource department is the one that is usually in charge of the total reward statements for employees of a company . For organisations, there are many reasons to create these total reward statements. ● To help employees understand their compens