Fran Maxwell, a Global Leader in People and Change, emphasizes the necessity of HR leaders to adopt total rewards optimization strategies that enable employees to customize their benefits packages.
The article stresses the urgency for HR departments to redesign reward strategies to meet diverse employee needs effectively and cost-efficiently while aligning with organizational goals.
Evolving work models, employee expectations, and advancements in technology demand a move away from traditional compensation concepts, prompting HR to rethink or unlearn old strategies.
Compensation structures must adapt to retain talent, as new trends disrupt total rewards strategies, recognizing varying employee needs in remote and hybrid working environments.
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