About The Event
“Future of Compensation and its impact on Business"
re.ward / noun : a thing given in recognition of one's service, effort, or achievement.
em·ploy·ment / noun : the condition of having paid work.
Rewards form the fundamental bedrock of all employment contracts. Businesses and economies have undergone seismic shifts in the last 5 decades as organisations have evolved from the age of industrialisation to the modern age of information and technology. With the advent and rapid evolution of technology, employers and employees and their roles have been constantly reshaped and reconfigured. While all of this has been happening and multiple industries have come into existence and ceased to be, the bedrock on which employment contracts have been established has been unchanged.
The nature of employment may be getting reshaped and organisations are beginning to explore the opportunities around the delivery of rewards and its redefinition especially with a whole new generation of Gen X and Gen Y and of late the Gen Z joining the work force. As the demographics change, the expectation of these constituents of the traditional work force and their new counterparts are putting the employers and more specifically the HR Heads & rewards managers at the forefront of an interesting challenge. This event looks to explore some of these challenges and understand steps which different organisations are taking in order to address the same.
Sub Themes in the event
The evolution of rewards and its impact on businesses: Given the multi-generational nature of our workforce the same team or work group would potentially have a very diverse of employees in the teams and businesses. Understanding the motivation and inclination of the employees and being able to harness such a diverse set of individuals and aspirations in order to drive them towards a common objective is a challenging requirement. As business cycles become more challenging, CEOs and MDs are constantly looking to create forward thinking and agile organisations. On this quest it is critical that the HR function has a sound understanding of the business fundamentals and critical levers. The first segment of the program would look at exploring the business expectations and role compensation can play towards meeting these expectations.
Higher performance work culture and what makes it work: Several organisations have been able to distinguish themselves and the value proposition offered by them to the employees. These organisations have also been able to see tangible impact on their top line and bottom line. We would be showcasing some of the practices and core beliefs organisations have espoused as they charted their journeys towards becoming high performing organisations with several motivated and engaged employees in their ranks. We will also explore some of the challenges and barriers which these organisations experienced as well as understand the reasons behind what made the values stick or not along with an understanding of the external and internal pressures or considerations which impacted these journeys.
The future of rewards: India is one of the fastest growing of the large economies in the world today. A large chunk of the population in India is below 30 years. As India and India inc. embark on an ambitious journey we will undertake some crystal ball gazing and understand the impact of these trends and themes on the anticipated future of rewards as well as look at some of the other economies who have faced similar challenges while undertaking such journeys of super normal growth as well as some of the possible fall outs and incumbent implications after completing such a journey from a rewards lens.