Making Rem Budgets Go Further: How to Develop a Total Rewards Strategy

Rethinking employee remuneration and retention

For many employees, pay isn’t everything. Post-pandemic, organisations should rethink their employee offerings and develop a total rewards strategy that speaks to today’s climate and employees’ needs. Re-modelling remuneration can also help employers optimise their rem budgets – providing more ‘bang for buck’.

What is a total rewards approach?

The term total reward relates to a range of monetary and non-monetary rewards. With base salary as the foundational element, it encompasses all the investments an organisation makes into its employees and takes a holistic view of its employee offerings.

Developing a total rewards strategy 

With many organisations already viewing retention through a broader lens, now is the perfect time to consider implementing a total rewards strategy. This whitepaper will outline:

• Why the development of a total rewards approach is so important today
• How to recognise high performers with non-monetary rewards
• How to build a total rewards strategy: a 4-step process