Thinking Beyond Pay: The Key to Equity and Equality in Your Total Rewards Strategy

Total Rewards consists of both the monetary and non-monetary methods which an organization uses to compensate or pay its employees. This combination of pay, benefits and additional means of remuneration are key drivers in motivating your workforce. As an HR Leader, you know having a strong, equitable and equal Total Rewards strategy is imperative to employee engagement and developing a high performing team but what is meant by “equitable and equal”? What steps can you take in HR to ensure your TR strategy meets the needs of your employees and that you achieve equity with your organization's rewards system?

In this previously recorded HR community event, we define what is meant by equity and equality in relation to Total Rewards. We also focus on methods for evaluating your current TR strategy to identify gaps and issues. Finally, we discuss how to update your TR strategy for establishing equitable compensation and benefits practices.