All About HR - Ep#1.6.2 - Here’s What Rewards Will Look Like Beyond 2021

Download our Compensation Metrics Cheat Sheet to determine the right compensation metrics to track & learn how to create insightful C&B charts in Excel 👉 https://aihr.ac/3iYEJ9T Welcome to another exciting episode of All About HR! This is the podcast & video series for all HR Professionals and business leaders who want to future-proof their organization and learn about the latest trends & insights from industry experts, CHROs, and thought leaders. 🚀 This is the second part of our interview with Unilever’s Global Reward Counselor, Peter Newhouse. Peter is an expert on pay and a forward-thinking reward innovator. 💡 In this episode, we ask: what will reward look like in the future❓Reward systems are being transformed due to advanced technology and data availability. With those things in hand, organizations can establish a much more varied approach to reward and provide employees with a choice regarding the composition of their reward packages. Determining a reward system has its own unique challenges. 💸 To retain your talent and sustain engagement and commitment in your organization, your reward system decisions should be open, fair, consistent, and explainable. In this episode, we touch upon: ✅ Leveraging data in reward ✅ Implementing employees’ feedback to create better reward systems ✅ Using rewards to create greater diversity and inclusion And much more! 0:00 - Intro: In the previous episode 1:00 - Leveraging data in reward: how Unilever leads the way  6:10 - Giving back to society: helping other companies do reward well  7:55 - Managing a reward system worth 6 billion Euros 9:54 - People need to feel they are getting a fair deal   10:57 - Employees should interact with their reward not just receive it 14:30 - Moving beyond just giving people choice   17:38 - Labor market is the only market where the product has an opinion about its own price 21:21 - Don’t underestimate the necessity for a cultural fit between employees and the company  Have you watched the first part of this interview❓Find the full episode here 👉https://aihr.ac/37PDT8V and discover the key elements of successful reward systems! 💪 Expand your HR skills at the Academy to Innovate HR 🎓 Acquire a full analytics skillset that will enable you to drive data-driven decision-making throughout HR. 📈 https://aihr.ac/3xZyqrB Learn how to provide leaders with fact-based people solutions to business challenges. 💼 https://aihr.ac/3hWpWfh Become an influential and effective HR Leader who achieves greater impact and better employee experience. 🎯 https://aihr.ac/2Tree2D Transform your organization into a diverse and inclusive place to work 🌱 https://aihr.ac/3izsC1w Get unlimited access to all AIHR training courses and certificate programs with our Full Academy License 🎓 https://aihr.ac/3eMv7fA 👋👋 P.S. Follow us on LinkedIn for the latest HR developments!   / aihr   #AllAboutHR #AIHR #RewardStrategy