Diverse labour force demands diverse options

One-size-fits-all approach to total rewards won’t work
By Manny Campione and Laura Williams
|Canadian HR Reporter|Last Updated: 10/20/2006

As the availability of employees, especially skilled and experienced workers, decreases, employers find themselves faced with a dilemma: How do they offer the compensation and benefits necessary to attract and retain talent without breaking the budget?

The answer rests on knowing what kind of employees are needed to meet business objectives and knowing what these employees are looking for out of the employment deal.

Odds are that an organization needs to attract and retain a variety of workers who may be very diverse in terms of age, culture and lifestyle. A one-size-fits-all approach to total rewards is not going to appeal to this wide range of employees. Simply throwing money or health benefits at employees won’t work.