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Is Your Company Following its Compensation Philosophy?

Workday

A WorldatWork study sponsored by Aon Hewitt found that while 92 percent of companies surveyed have a formal compensation philosophy, only 63 percent have it in writing. Special perks like Friday yoga or in-chair massage, retention bonuses, and large cash incentives for employee referrals may be critical components.

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18 Benefits of HR Analytics For Your Business [With Examples]

Analytics in HR

One example of this is when PNC bank’s HR team used HR analytics to better understand the risk of their incentive plans. Rolls-Royce enlisted the help of Aon to reduce their drop-out rate by implementing a shorter and more engaging assessment that identified the candidates with the most talent and potential.

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10 Best Employee Benefits Platforms to look out for in 2023

Vantage Circle

For example, some platforms allow for integrating different benefits, such as health insurance, retirement plans, and wellness programs. This can help employees maintain a healthy work-life balance and improve their well-being. This can help organizations attract and retain top talent, reducing turnover and associated costs.