Page 13 - Western Wisconsin Health

Total Rewards and Compensation Consulting Practice

Total rewards strategy design process

Understand Asses Strategize Recommend

• Business perspectives including • Survey the market comparing • Strategize with key stakeholders • Present total rewards strategy
culture, strategic goals, and organization to relevant peers • Develop total rewards strategy, and inal recommendations
future planning • Validate employee perceived philosophy, and strategic • Link total rewards strategy to
• Effectiveness of current value (conjoint analysis, focus roadmap business strategy
programs with regards to cost groups, etc.) • Determine potential program • Present inancial impact
and risk • Deine gap analysis and make design changes in relationship • Design plan to effectively

• Workforce perspectives like initial recommendations to inancial implications communicate change
employee expectations, needs,
perceptions
• External perspectives affecting
industry, workforce planning

Lockton process to designing a total rewards strategy.

Western Wisconsin Health — Lockton Total Rewards Practice overview 13 Lockton Companies