Discover how ING, Mars and Bosch approach Total Rewards Optimization (TRO)
Michael Tovar
What we wanted to do with the, the TROs as we call it, the Total Reward Optimization approach, is to really find out from employees what was important to them. We want to make sure that that spend is going to the right place.
Billy Schultz
Having real data through a conjoint analysis as opposed to stories, I think is a really important aspect of using the right data and having the right insights. While there's a lot of data that you can collect from LinkedIn and Glassdoor and a bunch of other things, there's nothing that can replace a conjoint survey that actually goes to your employees.
Tracy Crane
Right. And we leverage WTW for our employee survey. And we always learn so much, from these surveys, especially in the way that we ask these questions. Right. The sort of conjoint analysis of that. What would you be willing to give up kind of approach? Because the reality is none of us can invest a dollar into every suggestion that employers bring to us. We would be broke. Right. The key insight that came out of these employee listening, which is in addition to the surveys we do, we have a very open door policy around here. We have a very strong culture. And so associates will come to us directly. And what we realized is that the top two key insights are flexibility and choice.
Billy Schultz
In my opinion, not knowing is actually worse than guessing in terms of what your employees value. I think importantly, a survey like this is more about finding out what your employees value most and what tradeoffs they're willing to make, as opposed to laying out a set of expectations that you're going to live up against.
