Speaker: Mr Anand Pillai, Sr. Executive Vice President & Chief Learning Officer at Reliance Industries Ltd

1. Total
Rewards
Going beyond
Compensation

2. POLL 1
What is the Best form of Reward?
Money/compensation increase
Promotion with Higher responsibilities
Public recognition
Equipping the Individual so that he can
continue to excel

3. Employees are not
impacted by the rewards
that they receive/do not
receive as long as they do
not understand why they
received/did not receive it.

4. POLL 2

5. Worst way of
implementing is
rewarding for the
past performance

6. POLL 3

7. Most impactful way of
rewarding is to equip
for the future so that
they can continue to
be rewarded..

8. POLL 4

9. Contents
1. Definition
2. Why Total Rewards
3. Caselets
i. Hay Group
ii. Worldatwork
iii. Watson Wyatt
iv. Towers Perrin
v. Michael Armstrong
4. Work Flow
5. Concerns

10. Definition
• Includes all types of reward –
non-financial as well as
financial, indirect as well as
direct, intrinsic as well as intrinsic.
• It is a value proposition which
embraces everything that people value
in the employment relationship and is
developed and implemented as an
integrated and coherent whole.

12. Why Total Rewards
“Total rewards is required to creating fun, challenging &
empowered work environment in which individuals are
able to use their abilities to do meaningful jobs for which
they are shown appreciation is likely to be a more certain
way to enhance motivation and performance – even
though creating such an environment may be more
difficult & take more time than simply turning the reward
lever” -Jeffrey Pfeffer, Prof of OB at Stanford University

14. Engaged Performance
Inspiration/
Quality of
values Work
Tangible Engaged Work Life
Rewards Performance balance
Future
Enabling growth/
Environment opportunity

15. Attract, Motivate & Retain
Total rewards are all the tools available to the employer that may be used to attract,
motivate and retain employees. Total rewards include everything the employee
perceives to be of value resulting from the employment relationship

16. Business + Human Capital
business strategy
human capital strategy
total reward strategy
fixed reward costs performance-based environment-based
rewards rewards
fixed costs of employment variable costs of intrinsic rewards
employment
value of role to contribution made by Employment deal
organization individual
Effective delivery through focused communication, greater flexibility & use of technology

17. Job Design
TRANSACTIONAL
(TANGIBLE)
PAY/REWARD BENEFITS
• base pay • pensions
• contribution pay • health care
• shares/profit sharing • perks
• recognition • flexible benefits
L&D WORK ENVIRONMENT
• workplace learning • core values
• performance management • leadership
• career development • employee voice
RELATIONAL
(INTANGIBLE)

18. Transactional & Relational
base pay
transactional total
contingent pay
rewards remuneration
employee benefits
total reward
learning and development
relational non-financial
rewards the work experience rewards
recognition, achievement, growth

19. Making total reward happen
Conduct Monitor
Diagnostic &
Interview Evaluate
Define
Communicate
Objectives
Develop Implement
Approach Progressively
Prioritise Design
Involve

20. Total Reward Issues
 How do we convert rhetoric into reality
 Should we distinguish between total reward and total
remuneration
 How are we going to persuade people that total reward is a good
thing
 How are we going to communicate the benefits of total reward
 What priorities do we give to the different elements of total reward
package
 How do we make total reward work, bringing the elements in the
package together

21. What if we
reward our
employees &,
they leave?

22. What if we
don’t reward
our employees
and, they stay?

23. Thank You
Twitter: Anand__Pillai
Anand.k.pillai@ril.com