When an employee is hired, and throughout their tenure, they are required to take various compliance and training courses. Although some training is required across the board, these trainings are now widely personalized based on the employee’s role and requirements.The Benefits Exchange Platform now provides recommendations on which health benefits an employee should select based on their life choices.
The Coronavirus effect of a virtual workplace is providing us an opportunity to flex our traditional structure to the needs of our workforce. How can the effects of a virtual workplace lead us to a path of compensation equality, a more engaged workforce, and a decrease in turnover costs? for a wide range of contributions.
Additionally, many hiring managers are not well-versed in the art and science of market data and best practices around compensation. Humans have a tendency to gravitate to what Daniel Kahneman describes in Anything that makes it easier for the associative machine to run smoothly will also bias beliefs.
If organizations post roles and ranges internally and externally, employees and candidates can then have authentic conversations to fine-tune where they align within the market range, based on their experience and education. This makes the compensation conversation data driven vs. emotionally driven.Progressive organizations are moving toward a “total rewards” model where their employees now receive a package of benefits.
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