More than half (59%) of multinational organisations consider work-life initiatives as a staple of total rewards.
According to The State of Total Rewards Integration survey by WorldatWork and Mercer, which polled 741 multinational organisations, when asked to define total reward, the majority of respondents included work-life balance, such as flexible work schedules, extra holiday and sabbaticals, in addition to compensation and benefits.
In the last 12 months, 40% said they have enhanced or added wellness programmes to their total reward package while 21% added flexible working arrangements.
The survey also found:
• 43% of respondents experienced a decline in revenue in the past 12 months but the majority maintained their investment in their total reward programme.
•26% of respondents said they have a truly integrated approach to total reward.
• 73% use the term total rewards.
• the top business objectives for implementing a total rewards programme are retaining high performers, enhancing an organisation’s financial performance and attracting key talent.
Steve Gross, senior partner and total rewards leader at Mercer, said: “The past year has been financially difficult for organisations, and talent considerations have taken a back seat to cost considerations.
“Balancing no- or low-cost total reward components such as work-life initiatives with pay and benefits is critical for retaining top performers, attracting new employees and enhancing the company’s financial performance.”
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