Total Rewards Inventory What do you currently offer your employees through Total Rewards? Prior to commencing with any employee or stakeholder research,

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Presentation transcript:

Total Rewards Inventory What do you currently offer your employees through Total Rewards? Prior to commencing with any employee or stakeholder research, it is useful to review your current overall Total Rewards proposition using the Nestlé model. Please refer to the Nestle Total Reward Policy for guidance around what’s typically provided for each element of Total Reward Completing this exercise will help you to organise your understanding of the Total Reward package in your market before you are required to discuss its strengths and weaknesses in the following stages of the review. It will also be useful in helping you identify your different employee segments You can take the output of this exercise to your senior management interviews and use this as a tool to start a discussion around what elements are working and which may need to be changed The list will also help to give you an initial view on how your elements of Total Reward are spread over the segments and where there are any gaps. As you go through the exercise, you may want to note any immediate thoughts you have about the current offers in the table provided. This is just intended to act as a personal prompt before you commence with the analysis. As this is just an initial, paper based review, we anticipate that it shouldn’t take more than 30 minutes of your time We recognise that many Nestlé markets are very large and diverse, if you have dramatically different Total Rewards provision for different parts of the business then you may want to do a separate inventory for each area Use the templates on the following pages to conduct this review and create a useful output for the following stages of the Total Reward review

Total Rewards toolkit Current state review of Total Rewards You can complete this review using the template below. The following page has an illustration of this, using the Russian market as an example Employee group/segment Fixed Pay Benefits Growth Work-Life environment What is your base pay offer? What key benefits do you provide? How do you support employees with career growth and recognition? What do you provide to enhance the environment and work-life balance (focusing on tangible benefits) Variable pay What performance based pay do you offer?

Total Rewards toolkit Current state review of Total Rewards Total Rewards in Russia: Fixed Pay Benefits Growth Work-Life environment Base salary Cash allowances Relocation allowances Life insurance Medical care Mother and child care Baby-food program Corporate cars and parking Support in hard-life situations Meal voucher/allowance Other fringe benefits Career development Performance evaluations Trainings Recognition programs Long service awards Safety programmes Flexible work arrangements Staff shop Fitness and sport events Corporate holidays Lifestyle and wellness programmes Employee volunteer programmes Variable pay Short-term bonus Sales incentives One-time bonus Long-term incentives

Total Rewards toolkit Current state review of Total Rewards Take a minute to reflect on your current Total Reward offering and to think about which aspects of this are strong, which are weak, where there are easy opportunities for improvement and your perceptions of which aspects are most engaging for employees Strong Weak Known opportunities for improvement Perceptions of engagement