Maximize the impact of your total rewards program
The Talent Company recently conducted a survey of 184 Canadian organizations to uncover key data and insights regarding the state of total rewards practices in Canada.
In our study we found:
- Only 30% of respondents felt their total rewards function was “very effective”
- Top challenges for total rewards teams include lack of budget (57%) and lack of resources (48%)
- Of those that reported an improvement in their total rewards function found; better processes, stronger alignment with people strategies, and system improvements are the top three reasons
Our findings place a spotlight on:
- What differentiates a very effective total rewards function from a moderately effective one;
- Creating greater alignment between total rewards, HR and business strategies; and,
- The advantages of collaborating with the business and the impact of total rewards decisions on the business.
We hope you find our report insightful and helpful in establishing your total rewards program.