Question
A company can ensure fairness in a personalized rewards system by creating a flexible system that offers a variety of rewards and ways to tailor them to individuals. This system should reflect how employees live, work, and communicate. It should not be a one-size-fits-all approach rooted in the past. Companies that can deliver such personalized rewards will likely be more effective in their efforts to attract and retain top talent and will be better positioned to gain a competitive edge.
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"Today's workforce, with its diverse needs and preferences, requires a flexible system that offers a variety of rewards and ways to tailor them to individuals," Deloitte analysts say. Employees today want a custom rewards experience that reflects how they live, work, and communicate – not a one-size-fits-all approach rooted in the past." The analysts continue: "Companies that can deliver such personalized rewards likely will be more effective in their efforts to attract and retain top talent and will be better positioned to gain a competitive edge."
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