While firms acknowledge that employee rewards— like health benefits, training programs, and paid leave—are a cost of doing business, few are able to quantifiably gauge the impact of those rewards.
In fact, only 4% said they were immediately able to determine the return on investment of changes to their rewards programs, while another 26% were able to assess the impact with some gaps in their knowledge.
One quarter said their rewards programs were more reactive than proactive—they played catch-up in determining and meeting the needs of their employees and company, rather than attempting to determine which rewards would provide the most bang for the buck.
In response to this, Deloitte Touche LLP has issued a study called “Rewards Transformation: Turning Total Rewards From A Cost Into An Investment.” This study offers insight into reconciling the rewards employees value with what they are willing to trade—in terms of their time and talent— in order to receive them.
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