#benefitsandrewards

One of the most important themes that come out in StratChat Featuring – Mayur Chaturvedi is the future of compensation management in today’s organisations. The modern workforce demands more than just compensation; they demand flexibility, transparency, trust, and benefits.

As organisations are spending on learning & development, HR technology, and workplace strategies, compensation is being transformed into a strategic engagement and retention tool. Flexible and business-focused HR operations are now aligning benefits & rewards programs with overall growth planning.

Today, in a fast-paced world and competitive job markets, a salary is not enough to attract or retain good talent. It is a part of an organization’s Benefits and Rewards. Progressive organizations in India, on behalf of their employees, are shifting the employee experience from traditional benefits to innovative, flexible, and meaningful benefits that extend beyond salaries.

Benefits and Rewards range from performance-related benefits, wellness programs, Employee Stock Ownership Plans (ESOPs), and paid parental leave. An organization’s total rewards framework includes strategies, tools, and programs to deliver benefits that enable financial security, mental health, and work-life integration. Organizations are creating new and customized benefits packages, digitalized platforms to allow employees to manage their benefits, different types of recognition packages, and learning rewards. All adding new dimensions to the way in which employees interact with their organization.

Benefits and Rewards do not only influence satisfaction and motivation, but also loyalty and productivity. At the same time, organizations can promote and enhance a sustainable people-first culture. From health plans to flexible work hours, even rewards linked to ESG goals—Benefits and Rewards initiatives are central to an organization’s Culture.

Ready to make an impact on your HR strategy? Invest in your people. Start with Benefits and Rewards. https://www.strat-board.com/