What’s your “Waffle House Index” for success of your total rewards programs?

by: Derek Irvine

What metrics or systems of measurement do you use to understand the impact of your Total Rewards approach? I imagine common success measurements for compensation and benefits plans might be:

• Comparison to industry averages
• Employee retention/turnover
• Employee engagement or satisfaction survey results
• Employee participation in optional programs such as retirement planning
• Number of recipients or participants in bonus pools or similar incentives structures

I’m sure there are many more. But today, I wonder what other measures or gauges are currently in place that perhaps we just don’t see. Let me explain by sharing this story on the “Waffle House Index” (an American restaurant chain that serves breakfast all day):

 

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