Employers broaden total rewards
Employee Benefit News, May, 2008 by Leah Carlson Shepherd
The economic downturn and increased competition for the best talent are leading companies to adopt a more holistic approach to total rewards. They are going beyond benefits and compensation and incorporating elements such as career planning, performance management, employee training and work-life balance programs, experts say.
Doug Thomas, Northeast region leader for the compensation and benefits practice at SMART, a Devon, Pa.-based consulting firm, asserts, "I definitely see that [the focus on holistic total rewards] as a trend that won't stop in the near future."
He confirms that helping employees with career development "promotes a mutual loyalty, and that is a differentiating factor for companies that are taking total rewards seriously. It turns out to be a...
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