Global Total Rewards—2016 Review

The mission of Freelance Total Rewards is to advance effective total rewards and mobility practices in Asia. Let me share how we, as a profession, have advanced in 2016, from my direct observation. Based on hundreds of interactions with clients, consultants, students and various HR and rewards practitioners, I have seen the following developments in 2016. For now, I will only list them. Watch future blogs for more commentary on each.

Total Rewards Advancements in 2016

  1. We continue to develop professionally through continuous education.
  2. We are reevaluating “pay for performance” from the Asian perspective.
  3. We are taking flexible work arrangements more seriously.
  4. We are starting to show HR is about good management, not about HR.
  5. Big HR firms are more focused on expensive products than ever.
  6. Mobility expertise is more about getting value for money
  7. Job evaluation is coming in-house as big firm solutions are unsustainable.
  8. HR is under increasing pressure from CEOs to source good talent.
  9. DB is as good as dead. Everything is now DC except healthcare.
  10. Seniority based grading and promotion is fighting for survival.

Have a great 2017!

We at Freelance Total Rewards thank you for the privilege of contributing to your success, as we begin our 5th year. We are trusted to help manage the biggest and most important single expense in most of our organisations, and I believe the best is still ahead for our profession. Here’s to a new year and to exceeding all your KPIs!!!

Tom Farmer
Managing Director, Freelance Total Rewards Pte Ltd.

3 thoughts on “Global Total Rewards—2016 Review

  1. A great summary Tom! Agility, flexibility, customized solutions are all part and parcel of the new world order. Traditional sources are being challenged with complete makeovers – and old and traditional processes that are entrenched need significant makeover!

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