Technology in Total Rewards

Work-Life Balance

These programs are the policies, practices, programs and philosophy that help employees enhance their well-being and balance their personal and professional lives. Generally, there are four “categories” for these programs:

1. Well-being - these programs, such as job sharing, working remotely, flexible work arrangements, part-time schedules, summer hours, reduced work week (e.g., 4-day workweeks), and employee assistance programs (EAPs), enhance work-life balance for the employee.
2. Caring for dependents - with an increase in dual-income parents in today’s workforce, services such as child care and elder care are necessary to provide support for families.
3. Promoting wellness - through awareness and access to voluntary programs and resources employees become fully engaged and more productive.
4. Financial support - these programs help employees to manage their finances through voluntary financial benefits programs, resources and referrals.

Companies that effectively implement work-life balance programs do so to increase productivity, reduce turnover, expand the talent pool, and increase the diversity of the workforce.

Performance and Recognition

Performance management is a continuous process used to monitor and evaluate individual or group performance that supports an organization's goals and objectives.

Recognition rewards acknowledge the special performance of employees and are typically provided at the conclusion of a project or performance period. These rewards are commonly delivered through cash or non-cash awards. A few examples are:

• Spot Awards
• Discretionary Bonuses
• SPIFs
• Paid Time Off/Comp Time
• Stock
• President's Club
• Gift Certificates
• Paid Travel
• Lunch and Snacks
• Flowers
• Plaques
• Service Awards
• Parties
• Thank You Cards
• Reserved Parking Space

Career Development

A combination of learning experiences (formal or informal) that increase an employee’s skills or knowledge that aligns with career goals. This entails a discussion, as part of the performance management process, to define career and learning opportunities to enhance job performance and accomplish a career plan. Examples of such programs include:

• Tuition assistance
• Technology training
• Attendance at webinars, seminars and conferences
• Exposure to subject matter experts
• On-the-job training (special projects/assignments)
• Mentorships
• Corporate universities