Total Rewards Optimization

Total rewards packages-that is, perceived employee benefits-have gained considerable mention in the press and academia, with the ever-changing workforce demographic. Employers compete to attract, retain, and engage employees in an age where Millennials, Generation X, and Baby Boomers desire different rewards. This text highlights the importance of optimizing total rewards packages as a way to increase employee satisfaction while simultaneously increasing ROI for an organization. Just as it is crucial to understand the needs of customers, this text argues that it is equally (if not more) important to understand the needs of employees as well. This book presents the reader with an understanding of Total Rewards Optimization (TRO), a comprehensive survey design process, which represents a guide to operationalizing aspects of the survey, a grasp of survey results, the efficient frontier, and, finally, ways in which to execute action from results.

Total rewards packages-that is, perceived employee benefits-have gained considerable mention in the press and academia, with the ever-changing workforce demographic. Employers compete to attract, retain, and engage employees in an age where Millennials, Generation X, and Baby Boomers desire different rewards. This text highlights the importance of optimizing total rewards packages as a way to increase employee satisfaction while simultaneously increasing ROI for an organization. Just as it is crucial to understand the needs of customers, this text argues that it is equally (if not more) important to understand the needs of employees as well. This book presents the reader with an understanding of Total Rewards Optimization (TRO), a comprehensive survey design process, which represents a guide to operationalizing aspects of the survey, a grasp of survey results, the efficient frontier, and, finally, ways in which to execute action from results.