5 low-cost, intangible rewards to promote

The soft side of HR can also have a big impact on the bottom line
By Lotte Struwing
|Canadian HR Reporter|Last Updated: 08/10/2009

HR practitioners are transforming into business professionals with HR acumen. In this recession, they’re also getting a rapid lesson in finance as organizations cut into the core of traditional HR programs in an effort to balance the books.

HR professionals will also need to put on another hat and become marketers as organizations rebuild and promote offerings to employees to ensure they remain engaged and stay with the company.

The tangible rewards should remain a main focus. Employers may want to develop communication strategies to help explain how base pay is determined — such as how ranges are developed, how jobs are benchmarked against the competition, where levels and titles fit in and why and how employees progress through the ranges. Communicating what is in benefit plans, including various plan options, how to access them and how plans can support employee health and well-being is imperative for ongoing sustainability.