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Optimizing Total Rewards to Meet a Health Insurer's Strategic and Staffing Needs
Author(s) -
Roberts Darryl R.
Publication year - 2013
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.21524
Subject(s) - staffing , business , legislature , workforce , pipeline (software) , order (exchange) , scale (ratio) , key (lock) , process (computing) , marketing , public relations , finance , management , economics , political science , economic growth , computer science , physics , computer security , quantum mechanics , law , programming language , operating system
An American health insurance company faced large‐scale change because of legislative reform that reshaped its industry and the anticipated departure of key leaders approaching retirement. Recognizing that its workforce needed to adapt in order to drive high performance in this new environment, its leaders decided to use Total Rewards Optimization, a rigorous analysis of rewards options based on both employee views and rewards cost. The results of their efforts led to the development of a total rewards strategy to enable the organization to increase employee engagement, innovation, and performance in an increasingly demanding climate, along with a stronger leadership development process to ensure a strong pipeline of leadership talent. © 2013 Wiley Periodicals, Inc.