Changing the Shape of Organizations and Rewards
The world of work is changing fast and total rewards approaches need to change with it. We all hear that “things will be different in the Future of Work”, but what does that really mean in practice? What opportunities are there for reward transformation, and what challenges do organizations need to address?
The changing shape of organizations can be defined as 3 things: how work itself is changing (e.g., Machine learning, etc.), who does the work (e.g., Technology) and where the work is done (e.g., remote work). With this seismic shift, the old traditional job architecture approach will likely not work and needs to be addressed, which means a big impact on reward approaches. With this rapidly changing work environment, the embedded hierarchy within that structured eco-system can be a blocker to responding to change with agility. And with the close ties between pay and hierarchy, total reward strategies sit right at the heart of this. In this session we will address the approach that reward has historically taken to date, how businesses increasingly prefer to operate, and how reward agility (underpinned with technology), is becoming a huge driver in our industry.