What should you consider when creating a team to design a total rewards program? In a BLR webinar titled "Total Rewards: The Ground-Level Assessment, Design, Execution & Evaluation Tips You Need to Succeed," Robert J. Fulton, Jr., and Karen Vujtech outlined some answers to this question.
You should start with an oversight team of all key total rewards components. The team will utilize feedback and direction given by top management, and they will then determine the priorities of the program. By using information from key stakeholders and other sources (including top management, focus groups or engagement surveys, benchmarking of competitors, etc.), the team can review each total rewards program or practice to determine if it:
- Fits within the company's total rewards philosophy,
- Is valued by participants, including both current employees and new hires; and whether it is useful in recruiting,
- Adds value to meeting business goals,
- Shows measurable results,
- Is cost effective, and
- Is flexible and sustainable.
In order to accomplish all of these goals, you will need to establish a team of key stakeholders, including owners and champions who are responsible for managing the big picture. The team should also include stakeholder representatives and people who are knowledgeable from each of the HR components, including compensation, benefits, and employee recognition.
Robert J. Fulton, Jr., SPHR, CEBS is the Managing Director of The Pathfinder’s Group, Inc. Fulton has specialized in compensation and benefits for over 25 years, with expertise in innovative compensation and benefit strategies for organizations; design of cash compensation, reward, and benefit programs; and analysis of human resources work processes.
Karen Vujtech, SPHR, GPHR is the Managing Director of Total Rewards Consulting, Inc. Vujtech has over 20 years experience in Human Resources with significant expertise in compensation as well as experience in benefits and HR systems management.
Together, they are part of the Walker Alliance (www.walkeralliance.com).
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