The Evolution of Total Rewards for Workers

by DAVID CHMIEL
June 2020

Is it possible for companies to make every employee happy?

On a good day, managers, executives, and owners obsess over how to attract, retain, and incentivize employees. Almost as much as their workers do.

Industry expert Robert Schott inspires Leadership Forum Community to reimagine the employee experience.

In the middle of a pandemic, employment upheaval, and social unrest in the wake of unspeakable violence, leaders assess just how valued their employees feel. True leaders, however, ask one hard question — What if we’re doing it wrong? Then they have to be confident enough to face the answers from employees — and do something about it.

Robert Schott has spent more than three decades helping Fortune 100 companies build “Total Rewards” programs that can empower employees to feel connected and happy with their present and future at work. As he addressed the Leadership Forum Community, all of whom would be thrilled to find some solutions during these days, Schott doubled down:

“I will be offering no sage advice from lifelong research, but rather describe a premise that comes from my heart, that I would like to explore with you. There will be no conclusion today, no plug-and-play solution and, at the end of this session, we will come to only one point of agreement among us: To go forward, or not.”

By “forward,” Schott was challenging every leader to “Flip The Viewpoint” on how they — and their organizations — view the concept of “Total Rewards” packages for their employees.

Most leaders think about this concept through a bloated organization-first viewpoint, despite the evolving culture in the workplace today. This new normal, though, with most people working from home, is just the start of understanding what will make workers happy now and in the future.

Schott inspired this group of global leaders, representing many generations, to consider the mission of truly considering what elements of a Total Rewards package would most resonate for them. It could be additional training, stock options, health benefits, making sustainable change in corporate philosophy, compensation packages, working from home, free parking, time off for charitable works, or anything they could consider of value to them. “We spend more time at work than we do at home,” Schott said, “what would it take to make yourself happier at work? That’s your “My Me” category. Now, it’s time to think of the people who work with you and for you.”

Schott said that the previous week’s provocateur, Rachel Adams, reinforced his commitment to the “My Me” model. “She made me consider this idea, and connected me with my conscious leadership process when she said, ‘70 percent of great leadership comes from leading one’s self.’ That made me believe even more strongly in what I am proposing to you all.”

Schott and the Leadership Forum group discussed the generational impact of Total Rewards principles and thoughts, as seen below, through the eyes of the millennial generation.

“This conversation could be used as a project kickoff rather than a proven model. We begin with the exploration for enhanced meaning of Total Rewards in the workplace, but maybe more importantly, in our lives. My hope is that our Leadership Forum Community says, ‘We need to incubate this one, Robert. It’s got the right stuff for our purpose.’”

By the end of the session, Schott took the biggest leap a leader can take. “Who’s in?” he asked. “Who would like to join this team as a member, advocate, a resource or as a stakeholder on behalf of your organization?” And 80 percent of the Leadership Community Forum committed to working with Schott to see if the concept could be implemented.

LEARN MORE ABOUT LCF
Stay connected to the Leadership Forum Community to see how the discussion evolves — or get involved yourself. Click on the highlighted lines to learn more about this session and others in the Leadership Forum’s Community Summit 2020 (a virtual event, to be held July 8-9, 2020) and its continuing, eight-session “Incubating Leadership Conversations” series of Zoom events (noon-1, EDT, Wednesdays through July 1). These sessions connect the LCF thought leaders and provocateurs to share insights that can help define and nurture the art and science of leadership to ensure the evolution of business and society.