![]() ![]() A survey by The SHRM Research Institute determined that 30% of respondents said an additional 8% needed to be added to the compensation budget to address the issue of inadequate compensation (Gurchiek, 2022). Flexible work options are beneficial for both sides as it creates happier, more committed employees.Ĥ According to research (Gurchiek, 2022), inadequate compensation is the number one reason for employee turnover. Healthy lifestyle rewards Flexible work options allow workers to save time commuting and offer them greater flexibility when it comes to creating a better work-life balance.The following topics were determined to be invaluable in attracting and retaining talent and, therefore, will be our main focus moving forward. ![]() To address as many needs as possible, we have combined key issues into similar categories so that we may reach our targets more succinctly. This information offered insight as to what Emerging Pharmaceuticals should be focusing on to provide a more appealing total rewards package.ģ Key Issues to Target At EP, we want to address the issues of the majority while also considering important factors for our outlying members. Management 5% Opportunities to use skills/abilities 3% Workplace safety 2% Along with the above qualitative data, additional employee comments highlighted some of the issues and concerns that were important to them. Work remotely 10% Market "right" pay for position 10% Professional development opportunities 9% Job-specific and company-sponsored general training 8% Tuition reimbursement 8% Paid Time Off/Family Time Options 8% Recognition of job performance/variable pay options 8% Teamwork within department 7% Healthy lifestyle reward/voluntary benefit options 6% Employee respect and diversity in the work environment 6% Financial wealth options/voluntary benefits options 5% Community engagement/Corporate social responsibility 5% Trust between employees and Sr. The table below (SNHU, 2020) shows the important topics from current Emerging Pharmaceuticals employees, in order of importance. To determine what Emerging Pharmaceuticals employees desired, information was collected via focus groups from an external consultant. 2 Total Rewards Analysis Revision To maintain a competitive advantage in the marketplace, Emerging Pharmaceuticals has committed to restructuring its total rewards package to appeal to new talent and preserve its current workforce. ![]()
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