As Talent Takes Center Stage, There's More Focus Than Ever on Compensation and Benefits. Are Rewards Consultants Up to the Task?
As the global financial crisis receded, Sibson Consulting Senior Vice President Daniel Fries began seeing new faces at his presentations on talent management and compensation topics. More CEOs started joining Chief Human Resources Officers (CHROs) to hear what Fries had to say. Today, Fries regularly presents on rewards and talent matters at events and conferences targeted to CEOs. "Whenever anyone asks me what's top of mind for CEOs, I respond with the same answer: talent," he says. "That's their number-one issue."
The rising strategic importance of talent management has intensified the compensation-related expectations of C-suite executives, boards of directors, shareholders and employees. These heightened expectations extend to the employee value proposition, pay equity, wellbeing offerings, individualized rewards programs, voluntary benefits, new pay-band structures and more. Laura Sejen, managing director in Willis Towers Watson's human capital and benefits segment, rattles off a number of factors that have "raised the bar in terms of how companies design and then deliver their total rewards programs."
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