"Rewards and Performance Management Challenges: Linking People and Results"
No author cited
Towers Perrin, April 2004.
According to this Towers Perrin survey, in spite of cost pressures, rewarding and retaining talent remains at the top of most HR department’s agendas and will for at least the next three years.
The study detailed the reward program best practices of top-performing companies. A total of 1,294 firms in North America, Europe, Asia and Latin America participated in the study. Towers Perrin defined high-performance companies as those with 3 year total shareholder return and/or earnings growth that exceeds the median of their global industry groups. The study found that high-performing companies:
Finally, and perhaps most importantly, they effectively communicated how their reward systems worked to managers and front-line employees.
The survey also found that many companies are turning to non-monetary or job-enrichment incentives, such as promotions, training/development opportunities, stretch assignments/special projects and recognition programs.
