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BENEFITS AS ADIFFERENTIATORNHRD: National Summit on Compensation &Rewards
Employee Value Proposition(EVP)                                         Types of Rewards                                  ...
What employees Want?Employers need to revisit the benefitsthey offer their employees, and figureout the perceived value em...
Total Rewards Optimisation  Extent to                            Extent to    which                                whichto...
Communication   Generate    attention,           Easy access to general and personalized information about    create    ...
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Using Benefits as a Differentiator

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Speaker: Anurag Verma

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Transcript of "Using Benefits as a Differentiator "

  1. 1. BENEFITS AS ADIFFERENTIATORNHRD: National Summit on Compensation &Rewards
  2. 2. Employee Value Proposition(EVP) Types of Rewards  Affiliation: Values, Mkt Position, Work Environment EVP:- balance between the rewards an employer offers  Compensation: Base salary, Bonus, Incentive and the expectations they set in lieu of those rewards.  Benefits: Health, Retrial, Perks, ESOPS, Paid holidays, Club memeberships  Career: Growth, Development, Security  Work Content: Challenge, Impact, Structure, Empowerment, Diversity
  3. 3. What employees Want?Employers need to revisit the benefitsthey offer their employees, and figureout the perceived value employeesplace on various benefits. Ideally fororganizations would be to club all thebenefits together, to their plans andshow the gaps between perceivedvalue by employees and real cost tothe company. The new benefits maybe incremental or replacement towhat is already offered with higherperceived value (and maybe lowercosts). The end result should alwaysbe enhancing the overall EVP andorganization objectives.
  4. 4. Total Rewards Optimisation Extent to Extent to which whichtotal rewards total rewards support the are valued by business Total employees objectives Rewards Optimization Total investment and cost structure
  5. 5. Communication Generate attention,  Easy access to general and personalized information about create Total Rewards to ensure employees know what the understanding, organization provides and how to use/participate. Tools: build engagement, Online content Personalized statements align the  Easy-to-use tools and resources to help employees gain the experience with most value from what the organization provides. Tools: the EVP, inform Modeling tools online transactions, Interactive media. the benefits, drive action  Integrated messaging to align perceived value with actual value. Tools: Stories/testimonials, promos, message driven content
  6. 6. Thank You.

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