HR Data Labs - Season 3 - Episode 17 - Steve Brink - Custom Compensation Packages: How Employees Want to be Paid
HR Data Labs podcast
English - April 07, 2022 13:00 - 34 minutes - 23.8 MB - ★★★★★ - 12 ratingsManagement Business human resources analytics data people insights insights people big data hr analytics business metrics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Summary:
Steve Brink has always had a passion for HR technology and data analytics. Early in his career, he was involved in creating a job evaluation software tool and the first PC-based compensation planning tool, called Compensation Workbench, released in 1987. He then went on to work at Towers Perrin and Mercer where he continue to develop and improve software tools. Most recently, he’s left his role as CEO of AIRINC to become President of uFlexReward.
In this episode, Steve talks about why people want more choice on how they are rewarded and paid.
Chapters:
[0:00 - 7:05] Introduction
Welcome, Steve!Today’s Topic: Personalization of Rewards[7:06 - 15:12] Why is personalization of reward important?
People perceive value in having different ways of receiving rewardUnderstanding the difference between guaranteed comp and variable comp[15:13 - 21:46] How can you personalize rewards?
Could benefits enrollment shift toward total reward enrollment?Employees react very positively to the power of choiceHow can gig workers benefit for personalized rewards?[21:47 - 31:56] What are some practical steps for moving toward personalized rewards?
Leveraging software to facilitate the shiftMoving toward a more transparent method of communicating with employees[31:57 - 34:39] Final Thoughts & Closing
How can we continue to enhance what we deliver to our employees?Thanks for listening!Contact:
LinkedIn
Quotes:
“When you look at future of work . . . it's how you're doing the work, but it's also when and where you're going to be doing the work. People spend a lot of time talking about future of work, but they don't talk about the implication of what that means for the potential of pay.”
“If you're allowed to provide even more in terms of choice, you start gathering more information. It's actually [your employees] selecting what's important to them. And with that feedback loop, can we actually start making changes to our reward system that are going to better align with the people in the organization? My goodness—isn't that what we all want?”
Production by Affogato Media