Companies struggle to attract, motivate and retain their best Employees. Compensation models based exclusively on salary and a homogenous and reduced benefits package are now obsolete due to the change in the environment of the Employer-Employee relationship.
Efforts to keep an engaged and business focused workforce are currently directed towards creating a customized and integrated Employee Value Proposition based on a Total Compensation strategy that includes all the benefits, policies, services and resources offered by the company that an employee or candidate may perceive positively as a compensation.
The challenge is to design a new HR model focused on the individual needs of each employee.
We are now forced to review our previous approach at a time when companies are looking for new models based on a Total Compensation Effectiveness and Efficiency approach: