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It's FINALLY Time to Rethink How We Do Total Rewards

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Amy Tailby

Senior Manager, Total Rewards at Benevity

Jeff Waldman

Founder & Principal at ScaleHR

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The world has changed

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Burnout is on the rise

67%

Source: https://wwwgetautumn.com

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Influencing factors

Emotional, Mental & Physical Exhaustion

Excessive & Prolonged Stress

Helpless, Hopeless & Resentful Feelings

Source: https://wwwhttps://www.camh.ca/en/camh-news-and-stories/career-burnout

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Source: https://www.gallup.com/workplace/358349/gender-gap-worker-burnout-widened-amid-pandemic.aspx

Women more affected

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How people experience work influences their lives outside of work

Source: https://www.gallup.com/workplace/349484/state-of-the-global-workplace.aspx

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Source: https://www.gallup.com/workplace/349484/state-of-the-global-workplace.aspx

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Wellbeing is the �new workplace imperative

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Which levers do we pull to positively impact how your employees are doing?

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Maximize what you already have

Tip #1

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Support - for them and for you
Are you using all the services?
Make it easy
Educate all year-long
Enable self-service

Tip #1

Support

For them - don’t expect them to be experts, be clear about how they get help (when they go to the provider, when they come to you, how they come to you) - if you are comfortable helping them figure out coverage and how to claim do so!
For you - use your broker/consultant (remember - you are paying them!) to get numbers, setup information sessions, create resources, find out about new programs or options for your plans, investigate and escalate issues with providers, negotiate contracts, and more. If they aren’t doing these things for you, go find someone who will.
Also for you - peers, peer networks, and company/industry networks provide tons of great resources and ideas

Are you using all the services?

Example 1 - most people don’t realize the extent of services (beyond mental health) available through EAP.
Example 2 - services like Kids & Company - most people know about the guaranteed child care spot and emergency child care, but don’t know they can get emergency child care when they travel.
Example 3 - compensation surveys - people know how to get the data, but the survey providers often have practice surveys, other metrics, and can often look in the data for things for you can’t see in the summarized data - e.g., common titles.
All it usually takes to find out about these is a quick call with the provider to get a more in-depth tour of the services and some promotional materials.

Make it easy

Everything points back to the resources - every email, every Slack post, every video, every live presentation, every poster in the lunchroom
Break things down to bite-size chunks - step by step checklists, and tips for making key decisions
Provide the information as close to when it is needed as possible - e.g., don’t give them all the detailed coverage information in their first week - they won’t remember it. Instead, teach them where to find that information/get those answers when they do need it

Educate all year long

Everything - monthly “hot tips”
Benefits - refresher sessions once a year, sessions and activities timed to external events (mental health for World Mental Health Day or Bell Let’s Talk day, retirement savings education leading up to Feb RRSP deadline, women’s health resources as part of International Women’s Day, men’s health resources during Movember), year-end check lists
Compensation - regular reporting on bonus program progress, reminders about stock programs, refresher on compensation structures leading up to annual cycle

Enable self-service - content on company intranet (or use Coda or Notion for more cost-effective web-based wikis) - one-stop shop for everything - phone numbers, emails, website links, login instructions, program details, forms, booklets, brochures, calendars, how-to documents and videos, on-demand training videos

And back to my first tip - every time you talk about rewards, point to these on demand resources
Teach the “learn to fish” mentality from day one

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Stop hiding stuff from your employees

Tip #2

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Pay transparency positively impacts employee perception of trust, fairness and job satisfaction

Tip #2

Source: https://hbr.org/2022/08/research-the-unintended-consequences-of-pay-transparency

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Tip #3

Put your…

Diversity

BJEDI

DEI

Inclusion

glasses on.

Image Credit Mrson Graphic via Vecteezy:

Let’s start with why it’s worth it to worry about the DEI lens

20% of Canadians are immigrants, 3.5% of Canadian immigrated in the last 5 years
2.68M of the 7.7M Canadians in the 2016 census belonged to a racialized group - 29%
StatsCan projects that by 2041: half of Canadian will be immigrants or children or immigrants and in Toronto it will be 4 out of 5 people, 1 in 4 will be Asian or African, 2 in 5 of all Canadians and almost half of the workforce will be from racialized groups
At least 4% of the population identifies as LGBTQIA2S+ and only half of those have come out at work
If these people don’t see themselves in how you present your total rewards or get the support they need, they will go elsewhere

We talked earlier about assumptions around understanding

Now extend that to - people new to Canada, people with hearing difficulties, people whose English isn’t very strong yet, people who are neuro-diverse

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Communicate in multiple formats
Diverse examples
Diversity check every time you review pay
Diversity features in benefits
Needs of underserviced populations
#ShowUsYourLeave

Tip #3

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Don’t know?

Just ask, and…

Be vulnerable and genuinely curious.

!

???

Tip #3

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Google? Who gives a shit?

Tip #4

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Leverage and USE your data

Tip #5

Everything these days is data driven - total rewards should be no different
Look at your comp data from multiple points of view - gender, tenure, job level, performance, comparison to market, comparison to a peer group, location, dig down into teams
Brokers and consultant can help you get all kinds of data on your benefits usage - look at it, get them to help you understand it - will help you see what your people actually want and need. They can also get your peer comparison data (if you still care about Google even after what Jeff shared in tip #4)
Need more data about what your people want? Surveys and focus groups provide tons of data but make sure you are specific in what you ask.
Doing an engagement survey? Make sure it’s getting you the data you need about what people do and don’t want.

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Closing

Overlay a wellbeing mindset - it’s the new workplace currency

Maximize what you have

Pay transparency is good - it builds trust

Overlay EDI

Google who? Focus on your employees and what’s best for them

Data rules - HR is a business function. Use it

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Thank you

@amy-tailby-b-math-cebs-44468330/

@jeffwaldmanhr

jeff@goscalehr.com

atailby@benevity..com