Total Reward Strategy Quiz

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Total Reward Strategy Quiz

  1. 1. Total Reward Strategy QuizShared thoughts aboutits key drives
  2. 2. What? When?By whatmeans? Where? Who? Total Reward Strategy quiz Page 2
  3. 3. What?Could Total Reward be only cash based?What benefit could we add to the equation?Could we consider also professional development?Is Variable Pay a risk fee or a deferred cost? Total Reward Strategy quiz Page 3
  4. 4. By what means?How we pay respect the market, more or less?How do we pay, people focus or job focus?What do we recognize, based on function or based on roles?Do we have the same competitiveness for all the concepts? Total Reward Strategy quiz Page 4
  5. 5. Who?Could we still afford One size fits all strategy?Who does our strategy attract and retain?Are we aware of how we differentiate by collective?Which criteria do we use for differentiating collective beyond hierarchy? Total Reward Strategy quiz Page 5
  6. 6. Where?Do we facilitate internal mobility?Do we recognize geographical differences?In regards of Rewards, the Brand adds value ?What do we need to buy talent or to develop talent internally? Total Reward Strategy quiz Page 6
  7. 7. When?How do we define limits for paying Employee / Job adjustments?Are our annual salary increase driven only by CPI?How do we treat positions without professional career?Is our Total Reward Strategy synchronized (Business cycle / Personal cycle? Total Reward Strategy quiz Page 7
  8. 8. Without avoiding the key question: Why?How do we link Total Reward Strategy with:  Human Capital Strategy  And specially with Business StrategyWithout forgiving the Competitive Context and other Stakeholders. Total Reward Strategy quiz Page 8
  9. 9. Answers Profile Why? What? When?By what means? Where? Who? How?The definition of Why clarifies the goals to achieve.The answers of What, By what means, Who, When and Where combine toshape the How.But without forgetting that this exercise is not static, nor unique, but dynamicbased on the Business, Industry, Geography, Economy and Context. Total Reward Strategy quiz Page 9
  10. 10. What do we take for us . . .Total Rewards is one of the more powerful communication tools for shapingbehaviors and must be aligned with the Business Strategy.The Organizational Inertia tends to simplify the management of rewards to atransactional level and as a source of cost.It is in our hands to elevate the value contribution of Total Rewardsproposition, to Tactical or Strategic levels . . .. . . Because at the end is not about Paying More but Paying Better, this meansrewarding beyond cash in order to facilitate the achievement of goals. Total Reward Strategy quiz Page 10
  11. 11. Image credits Front page: Image: Salvatore Vuono / FreeDigitalPhotos.net Background rest of pages: Image: Salvatore Vuono / FreeDigitalPhotos.net Page 2: Image: renjith krishnan / FreeDigitalPhotos.net Page 3: Image: Master isolated images / FreeDigitalPhotos.net Page 4: Image: Master isolated images / FreeDigitalPhotos.net Page 5: Image: Master isolated images / FreeDigitalPhotos.net Page 6: Image: Master isolated images / FreeDigitalPhotos.net Page 7: Image: Master isolated images / FreeDigitalPhotos.net Page 8: Image: jscreationzs / FreeDigitalPhotos.net Page 9: Image: renjith krishnan / FreeDigitalPhotos.net Page 10: Image: Danilo Rizzuti / FreeDigitalPhotos.net Total Reward Strategy quiz Page 11

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