All About HR - Ep#1.6.2 - Here’s What Rewards Will Look Like Beyond 2021

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Welcome to another exciting episode of All About HR! This is the podcast & video series for all HR Professionals and business leaders who want to future-proof their organization and learn about the latest trends & insights from industry experts, CHROs, and thought leaders. 🚀

This is the second part of our interview with Unilever’s Global Reward Counselor, Peter Newhouse. Peter is an expert on pay and a forward-thinking reward innovator. 💡

In this episode, we ask: what will reward look like in the future❓Reward systems are being transformed due to advanced technology and data availability. With those things in hand, organizations can establish a much more varied approach to reward and provide employees with a choice regarding the composition of their reward packages.

Determining a reward system has its own unique challenges. 💸 To retain your talent and sustain engagement and commitment in your organization, your reward system decisions should be open, fair, consistent, and explainable.

In this episode, we touch upon:
✅ Leveraging data in reward
✅ Implementing employees’ feedback to create better reward systems
✅ Using rewards to create greater diversity and inclusion

And much more!

0:00 - Intro: In the previous episode
1:00 - Leveraging data in reward: how Unilever leads the way 
6:10 - Giving back to society: helping other companies do reward well 
7:55 - Managing a reward system worth 6 billion Euros
9:54 - People need to feel they are getting a fair deal  
10:57 - Employees should interact with their reward not just receive it
14:30 - Moving beyond just giving people choice  
17:38 - Labor market is the only market where the product has an opinion about its own price
21:21 - Don’t underestimate the necessity for a cultural fit between employees and the company 

Have you watched the first part of this interview❓Find the full episode here 👉https://aihr.ac/37PDT8V and discover the key elements of successful reward systems!

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