Global Rewards Strategy for Indian organizations

Global Rewards Strategy for Indian organizations
Gain deep and comprehensive insights into what different employees value - Our usual strategy of assessing monetary compensation against market benchmarks and applying it based on our pay percentile principles will not apply when we talk about global rewards.

Globalization has become the biggest words in the business and economic jargon in the past decade or more. However, while we speak about it in a holistic and macro level context, often we do not replicate this phenomenon into basic people processes such as Rewards. Indian MNCs have shown an increase in number as well as expanded their operations by acquisitions. The direct impact of this has been the absence or lack of awareness on how to create a global rewards strategy. We are able to identify local compensation elements in any market that we operate in, look for compensation benchmark data and identify what to pay for which role, in terms of market competitiveness. What we are unable to do are the following –

1. Determine a global rewards approach that a diverse set of employees understand and accept.

2. Drive a performance-oriented rewards strategy that includes the values and motivation factors applicable to individuals in various markets.

3. Communicate the overall organizational rewards framework or philosophy particularly the non-financial and...

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Simran Oberoi

is currently Product Sales Leader for Human Capital Solutions, South Asia at Aon. She has HR Advisory, Knowledge Development and Research expertise of around 2 decades in areas such as Compensation & Rewards, Diversity, Equity and Inclusion, with firms like Hewitt Associates(Aon), PwC, Hay Group/Korn Ferry and SHRM India. She is the Visiting Faculty for the HR Elective Course - Diversity and Inclusion at the Workplace for reputes institutes.

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Simran Oberoi

is currently Product Sales Leader for Human Capital Solutions, South Asia at Aon. She has HR Advisory, Knowledge Development and Research expertise of around 2 decades in areas such as Compensation & Rewards, Diversity, Equity and Inclusion, with firms like Hewitt Associates(Aon), PwC, Hay Group/Korn Ferry and SHRM India. She is the Visiting Faculty for the HR Elective Course - Diversity and Inclusion at the Workplace for reputes institutes.

Dec. 2022 Issue

Workplace Frustration
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