Total rewards preferences among the workforce have always differed somewhat from employers’ perceptions. In recent years, tight labor markets have given current and future employees more leeway to press their interests, often with high expectations that are challenging to meet. A blind spot to what engages and satisfies employees can misdirect financial investments and other efforts to attract, retain and engage talent. And it’s a risk organizations can’t afford to take.
What’s behind the disconnect
Despite contradictory findings, there’s a tendency among employers to believe their workforce is in a healthier state than it really is. And this view applies to all core dimensions of wellbeing — physical, emotional, career and financial.
Proper research is required to avoid the pitfalls of presuming employees’ preferences are clearly understood. With the right data, HR leadership can dispel a common notion among senior executives that decisions about total rewards and other elements of the employee experience are more effective than they really are.
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