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Study reveals hallmarks of success for total rewards profession

The future of the total rewards profession will be marked by four factors: enhancing employee engagement; quantifying HR impact on the organization; effectively communicating; and tying rewards to business strategy. More importantly, the future of the profession will depend on filling talent gaps and developing leaders.In terms of priority for the future skill development of total rewards professionals, strategic thinking topped the list by a substantial margin, followed closely by influencing and persuasion.

The top six future professional development priorities are:

1) Strategic thinking;
2) Influencing/persuasion;
3) Leadership skills;
4) Understanding company/organization operations;
5) Executive presentation; and
6) Project management.

The top trends identified were fairly similar across respondents of different organization sizes and responsibility levels:

1) Using total rewards to drive employee engagement;
2) Using analytics to quantify HR impact;
3) Ensuring total rewards is communicated clearly and effectively to staff; and
4) Tying rewards to organizational strategy and business success.

The survey report was released in concert with WorldatWork’s inaugural Total Rewards Professionals Week, May 21-25, a week dedicated to celebrating those in the compensation, benefits and work-life professions.

Source: WorldatWork; www.worldatwork.org.