Reward may never be the same again, said Sarah Purnell (pictured), head of UK reward and benefits at Tesco, during a session at the Employee Benefits Summit in Alicante, Spain in May. She said the recession, consumer trends and workforce demographics are the three key factors that will affect reward and benefits in the coming years.
”I fully support [Purnell’s] analysis of the key factors that are changing reward. However, I think reward professionals have been aware of these factors for some time, even though many employers have yet to fully grasp them.
“Differentiated reward within an employment value proposition has always been the holy grail and there has been mixed success.
“It becomes even more problematic when you superimpose multi-generational and consumer-led influences.
“It is important, therefore, to allow maximum flexibility and choice so employees can tailor the package to meet their own individual requirements.”
– Evan Davidge is associate head of reward, programmes and data management, at Ove Arup and Partners International
“I couldn’t agree more. We are now moving into an environment where we need to think about staff members from a generational, financial and behavioural perspective.
“Financial planning for the vast majority of people now starts in the workplace, and the employer’s role in this has changed fundamentally.
“Delivery is all about making it simple: giving employees an experience that communicates, educates, is multi-device-responsive, silent running and just does it all for them (and the employer).”
– Duncan Singer is head of sales, employee benefits and reward, at Capita Employee Benefits