The way an organisation rewards its employees is critical to overall productivity and the success of the business. Reward management must therefore link directly to the changing needs of organisations to ensure that employees are suitably aligned especially in the difficult economic circumstances in the country.
“With economic growth officially in the 1 percent range, and closer to 0 percent in reality, employers and labour are going to have to face up to some tough decisions,” Dr Mark Bussin, Master Reward Specialist and Executive Committee Member from the South African Reward Association (SARA) says. “On the one hand, across-the-board increases are simply not sustainable but, on the other, the high performers in the company have to be rewarded and incentivised. In other words, our current way of thinking about wages has to change—and radically. Conditions are going to get tougher, at least for the next few years.”
Total Reward management takes into account more than just base pay; it also looks at what people need to be productive and positive in a fast changing work environment, especially with technology significantly changing the way organisations do business.
It is thus critical that Total Reward professionals – those individuals responsible for creating effective Total Reward value propositions for employees – remain on top of industry trends and get advice and support on how to successfully navigate the minefield of challenges faced due to the changing landscape of business. One such way is by attending the annual conference of the South African Reward Association, taking place on 2 and 3 November 2017.
Even though we have easy access to information these days, it is important that reward professionals attend this important industry conference. Attending the event and learning about the latest trends and how they are impacting the industry and are being exploited for maximum benefit expands your knowledge base and gives you something valuable to take back and apply to your own work environment.
Delegates can expect to participate in discussions with fellow delegates and speakers around total reward strategies and practices that leads to success, covering topics such as Executive Pay and whether it is justifiable or not and how to align a remuneration strategy with cutting-edge ethics and anti-corruption trends. An extensive study on the effectiveness of the legislation surrounding Equal Pay for work of Equal Value will also be presented.
Those leading the way with innovative Reward programs will be recognized with one of the prestigious Reward Awards at the gala banquet on day 3 of the conference. Last year’s winners include Woolworths, Standard Bank, Unisa and ACSA.
For more information on the 2017 South African Reward Association Conference and Reward Awards taking place on 2 and 3 November 2017, visit http://www.sara.co.za/EVENTS/SARAConference2017.aspx