HR leaders face several challenges in improving rewards programs. One of the main challenges is the conventional practice of conducting salary reviews only once a year or less, which is followed by 91% of companies. This can lead to dissatisfaction among employees who may feel their efforts are not being adequately rewarded. Another challenge is the negative perception of rewards programs, with organizations rating their programs with a Net Promoter Score of -15. Additionally, only 21% of companies would recommend their program to others, indicating a lack of confidence in the effectiveness of their rewards programs. Furthermore, attracting and retaining talent is a significant challenge, with only 6% of respondents indicating their organizations are good at attracting talent, and only 8% saying they are good at retaining it.
How can you make your team feel valued and stay motivated? Wrap up the year on a high note and recog...
Download template