Topics

Reward strategy

Sheila Attwood Editor's message: Your organisation's reward strategy describes how the organisation will use reward policies, practices and processes to support the delivery of its business strategy. The organisation should be clear how each element of reward - such as salary, bonus and benefits - is going to deliver its desired outcomes in terms of, for example, attraction, retention and motivation.

Adopting a total reward approach can help to deliver the objectives of the reward strategy. Total reward encompasses the tangible aspects of reward, such as pay and benefits, along with non-pay items, such as work environment and training opportunities. Organisations that recognise that people are motivated by more than just money can use this to influence employee behaviour and engagement.

Sheila Attwood, senior content manager, data and HR insights

New and updated

  • Date:
    28 August 2024
    Type:
    Podcasts and webinars

    Podcast: Evolving your EVP to meet the needs of a multigenerational workforce

    Andrew Walker, new business development director with Personal Group, joins us to discuss the significant changes and trends shaping the future of work, and to explore strategies to evolve your employee value proposition (EVP) to meet the diverse needs of a multigenerational workforce.

  • Type:
    How to

    How to develop a reward strategy

    Reviewed and updated to focus on practical guidance for HR, including using total reward.

  • Type:
    Letters and forms

    Employee opinion survey on reward

    Use this model form to understand employee perception and opinion on your organisation's reward offering. The information gathered can be used to inform and assess strategies aimed at attracting, retaining and motivating talent at your organisation.

  • Type:
    Letters and forms

    Total reward statement

    Use this model statement to communicate to employees the composition and value of their total reward package.

  • Type:
    FAQs

    What is total reward?

    Total reward extends the definition of "reward" beyond remuneration and benefits alone. It encompasses all the factors that, in combination, cause employees to join, remain and deliver high performance in any given organisational setting. The total reward concept embraces ...

  • Date:
    24 May 2024
    Type:
    Podcasts and webinars

    Webinar: Why now is the time to align your rewards with your EVP

    Join Debra Corey, an award-winning HR consultant, for an insightful webinar on why aligning your rewards with your Employee Value Proposition (EVP) is critical for your organisation.

  • Date:
    31 January 2024
    Type:
    Podcasts and webinars

    Podcast: How to prepare for Generation Alpha joining the workforce

    Rebekah Martin, senior vice president of reward, inclusion and talent acquisition at AstraZeneca, joins us to talk about the changing motivations and requirements of the workforce - connection to purpose, skills-based learning, recognition and more.

  • Date:
    9 January 2024
    Type:
    Commentary and insights

    Rebuilding in 2024: Strategies for reshaping worker expectations

    This could be a pivotal year for HR. As ever, the cornerstones of what we do will be recruitment, retention, motivation, performance and productivity, but - asks Andrew Walker of Personal Group - what do they mean for HR and reward professionals in 2024 and beyond?

  • Date:
    1 December 2023
    Type:
    Commentary and insights

    Six strategies to attract talent and remain competitive in 2024

    Organisations are struggling to attract talent, but it doesn't have to be that way. Based on our survey findings, we explore ways to help employers address the skills shortage and stand out from the competition.

  • Date:
    28 November 2023
    Type:
    Podcasts and webinars

    Webinar: Rebuilding reward - game-changing strategies reshaping employee expectations of work

    Andrew Walker from Personal Group looks at the strategies employers need to implement in order to meet and manage employee expectations as we approach 2024.

About this topic

HR and legal information and guidance relating to reward strategy.

Reward strategy: key resources

Tools for pay specialists