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With remuneration budgets stretched and more requests for pay increases coming through in response to cost-of-living pressures, employers need to get creative about how they reward and retain employees. As our eBook outlines, total rewards is one possible solution, encompassing everything an employer can offer to workers, from pay and non-financial benefits to rewards & recognition.
Cost of labour vs. cost-of-living
Times are tough for employers and employees. Inflation is putting pressure on corporate budgets, and many frontline workers are doing it tough thanks to inflationary pressures. Going head-to-head with competitors on pay is often not viable or sustainable long-term but given the tight labour market the risk of losing valued employees is higher than ever. It seems employers are stuck between a rock and a hard place.
Are there other ways to retain and attract talent without offering more financial reward and adding significantly to labour costs? The answer is most certainly ‘yes’ – and it comes down to the holistic experience you can offer to employees. This is where the concept of total rewards comes into its own.
What are ‘total rewards’?
Total rewards include everything an employee gets from an employer that they find rewarding. From career development opportunities and the physical work environment, through to extra leave options and access to a range of perks and benefits, there’s much more to work than pay – and there’s a fair chance your organisation is already offering more than your employees may be aware of.
Total rewards for frontline workers
Our eBook covers everything you need to know about total rewards, with a key focus on total rewards for frontline, ‘deskless’ workers. Discover:
Rewards strategies in an inflationary environment
The elements that make up a total rewards strategy: compensation; benefits; work-life balance; career development opportunities; rewards & recognition
Why now is the time to consider implementing a total rewards strategy, including the struggle to attract and retain talent in a tight labour market, the challenge of doing more with less budget, and the rise of data and personalised benefits suites
Emerging trends to consider, including holistic health and wellbeing benefits, the power of corporate partnerships and the rise of digital microlearning
The role of communication and aligning total rewards with organisational goals
Keen to know more? Packed with independent research, useful insights and handy tips, our eBook can be downloaded by completing the form.