If ensuring your reward and recognition package is competitive and effective within your sector is a challenge, ensuring the package is competitive, effective and fair across an international workforce is another matter.
Not only that but designing and implementing an international reward strategy has to meet the objectives of an organisation as well as the desire of employees. This strategy – including remuneration and other benefits – is a crucial part of the Employee Value Proposition and played correctly can have benefits for attraction, recruitment and retention.
Everyone on the panel for the latest webinar from The HR World – James Carrick, International Senior Manager at sponsor Engage Health Group, Dina Knight – Chief People Office at DataTec and Logicalis and Carl Chapman, Head of Marketplace at benefits platform Ben – recognised the challenges facing organisations but also highlighted initiatives which can make a difference. The general approach was to create a framework which would bring equity and consistency across diverse locations, while also permitting local and personal flexibility. No mean feat.
The technology certainly exists to provide employees access to the benefits they value wherever in the world they may be. The panel discussed current trends in benefit provision as well as how to ensure the business gains value from the benefits they offer. Measuring impact does not always mean just looking at how much a benefit has been used, but also recognising that since everyone is an individual the more your benefits can key into the personal demands of the workforce the greater the value they are likely to deliver.
Organisations both large and small have the capacity to ensure their benefits are appreciated and have an impact among their workers. The key to success is to ensure the business is ready to listen to employee desires and respond appropriately to feedback on any benefits given.
