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Rewards Take on New Importance

Donna J. Bear

With projected compensation budgets remaining tight for 2006, employers continue to seek other ways to recognize and reward employee behaviors that align with corporate goals.

Projections from both WorldatWork and Mercer Human Resource Consulting show salary increases for 2006 mirroring those of 2005, at around 3.5% (IOMA, 2005). Employers know from experience that such lean budgets don't allow enough differentiation between star performers and their less-stellar co- workers to have much impact on engagement and retention. The most valued workers aren't going to feel adequately appreciated, so other pastures may begin looking greener. Meanwhile, the least-valued workers aren't likely to boost their performance for minimal compensation adjustments.

So, the challenge is to find other reward tools that support the accomplishment of business goals. Many organizations gear these rewards to top performers. The 2005 Mercer SnapShot Survey shows that managers tend to believe that the most important roles of a total rewards program are to attract and retain preferred employees and to differentiate high performers (Mercer, 2005).

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