Building the Business Case for Investing in Employees

Abstract

There are significant challenges ahead for compensation and benefits professionals this year, but those challenges also provide a wealth of opportunities for the profession and for our organizations. We need to consider taking a broader approach to total compensation—one that eclipses traditional ideas about pay and benefits—to build a fully integrated strategy that leverages total rewards, uses recognition and incentive programs for building and improving engagement and ensures that all facets of compensation are optimized to motivate our workforce and help our companies thrive. This is a deep dive into creating that integrated strategy by outlining the challenges we are facing, addressing how to align compensation and benefits with talent management and building the business case for the merits of investing in employees by measuring the long-term value of human capital assets. This article is intended to help us achieve our objectives and review some innovative tools and trends that can accelerate progress.