Martha Cook, Southeast People Advisory Services Practice Leader, Ernst & Young
Scott Thoresen, Manager People Advisory Services, Ernst & Young
Organizations preparing Future of Work face a number of challenges that need new solutions. Adapting to the digital economy requires innovative talent strategies that drive rapid change. Drastic workforce changes include shifting demographics, developing talent, growing employee expectations, transformation of HR and globalizing workforces. When organizations enhance their capability, performance, motivation and efficiency, they are able to translate human potential into business value and meet the demands of the future working world. A critical element to be addressed in this transition is Total Rewards, because just as workforces are changing dramatically, rewards programs are evolving as well.
In this session, our speakers will describe the critical components needed for successful Rewards programs today, and present EYs 5 Phased Model for Total Rewards, and review the objectives and value derived from each phase.
1. Understand the common workforce challenges emerging in organizations today.
2. Describe the various non-monetary factors that contribute to calculation of Return on Investment for Modern Total Rewards Programs.
3. Describe leading practices in Rewards functions as practitioners prepare for the changing workforce.
4. Learn how to implement the Five Phase Mode l through review of a real case study.