Is your reward policy enabling or undermining your career strategy?
15.30-17.00 BST MS Teams
Alignment between career strategy and HR processes is essential to successfully embedding a strategic approach to careers. Organisations often consider career development alongside talent management, L&D and inclusion, but miss the link with reward policy. In this roundtable we’ll explore how your approach to reward might need to flex to achieve your career development outcomes.
Today’s career proposition seeks to sell the benefits of lateral career moves where paths for upward progression may be less available. These lateral moves can provide stretch opportunities, but do they really benefit the organisation and employees? How can these moves be supported by reward strategies?
To help us explore this, we’ve invited Dr Wendy Hirsh to be our provocateur. Wendy will highlight differences between how we think about careers and reward. She will explore how the needs of organisations and individuals are diverse and change over time, and offer practical examples where career strategy and reward policy are misaligned and the impact this can have.
We’ll address these questions together:
1. Is our career strategy and messaging clear and appropriate for our business and our people?
- Will the fashionable things we say about careers, like emphasising lateral career paths, really meet our changing skill and resourcing needs?
- Do people want the kinds of careers we are telling them to want? What’s in it for them, including financially?
2. Is our reward strategy in line with these business and career needs?
- What kinds of career paths, career aspirations and corporate culture do our current reward systems encourage?
- Where do our pay and reward policies and structures (a) support or (b) block our current or emergent business and individual needs?
3. What could we do better?
- Are there practical changes to pay, grading and reward we think would align better with the kinds of careers the business needs and individuals may find attractive?
- How will we work with our colleagues in reward to bring our two areas of expertise and strategy closer together?
Want to attend?
A limited number of places are available to attend this event.