WORKPLACE SAVINGS & BENEFITS proudly presents Question Time – Valuing your Benefits; an exclusive evening event for Chief Executives, Finance, Pension, HR and Benefits Directors and Managers interested in how to measure and achieve return on investment from benefit spend.
Join industry peers for drinks, canapés and in-depth discussion at the On Air Studios in London on Thursday 19th July 2012.
As the UK economy continues to struggle, firms are increasingly looking for ways in which to evaluate the value of expenditure within their business – and benefit spend is no exception.
Yet while a metric to evaluate the efficiency of an investment might be a basic piece of kit in a finance director’s toolkit, benchmarking benefit spending is altogether more problematic. Evaluation of the efficacy of reward in terms of financial performance continues to prove difficult and reliance on ‘soft’ factors such as employee response to benefit schemes is often seen as an alternative.
Indeed, research for an Institute for Employment Studies paper in 2009 found only 45% of respondents had conducted a full and systematic evaluation of their reward practices. In cases where no evaluation had been carried out, 48% of those surveyed cited lack of time or resources, 19% said they lacked the data and information to make that kind of analysis. Worryingly 15% said that senior management indifference was the problem, 10% cited organisational change and 8% pleaded a lack of analytical skills.
How to achieve clear return on investment information for benefit spend has often been thought of as one of the ‘holy grails’ of the industry.
This event will look at how finance, HR and employee benefit directors and managers can assess the effectiveness of pay and reward practices and look at the tools and techniques which can be applied to practice evidence-based reward management.
Please note: If you would like to attend but have not received an invitation, please register your interest by clicking here.
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