Employers should align global benefits with their business strategy to engage and motivate employees.
Speaking in a session titled ‘Aligning global benefits with broader business strategy’ at Employee Benefits Connect on 4 March, Kim Smart (pictured), HR consultant and fellow of the Chartered Institute of Personnel and Development (CIPD), will discuss how to use reward to underpin a business strategy, as well as the needs of the employer and organisation.
Smart said: “It is critical that an organisation’s global reward strategy aligns with its business strategy to achieve overall success.
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“A balanced approach to global reward and benefits will ensure that it acknowledges the needs of the business, the changing environment, the aspirations and demographics of employees.
“The local culture and the current and future cost constraints is both essential and challenging.”
The Employee Benefits Connect session will also explain how delegates can achieve their business goals to deliver the right amount of global reward and benefits to the right people at the right time for the right reason.
It will also discuss how global reward should fit the needs of an organisation, link to talent management and the expat cycle of expatriation to repatriation.
“Employers are realising that rather than replicating the reward practices of other organisations, their global reward and benefits strategy must be deliberately created to support its own unique human capital strategy,” Smart said. “Achieving that is both vital and required when there is modest room to increase global employee benefits budgets and if there are any reward differentiation is even more critical.”
Employee Benefits Connect will take place at the Lancaster London Hotel in London on 4 March.