Employers are reimagining compensation and benefits amidst rapid changes in work, technology, and workforce expectations. Traditional one-size-fits-all pay models and job evaluation systems are increasingly ineffective in addressing employees' needs for personalisation, skills development, and wellbeing. Drawing on recent research and practice, this article provides practitioners' insights into the future of rewards. We argue for a shift beyond performance-based pay toward linking compensation to skills and career growth, adopting flexible and inclusive pay strategies for contemporary workforces, and positioning wellbeing and benefits as strategic differentiators. By balancing external competitiveness with internal equity through improved pay transparency, employers can create sustainable and motivating reward systems.
Diez et al. (Fri,) studied this question.
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