Global reward market trends: a data-analysis

Author Brad Law
oktober 10, 2024

The global reward recruitment market is experiencing notable shifts due to economic changes, technological advancements and evolving expectations from employees.

Evaluating these trends through data offers valuable insights for both employers looking to hire in reward, as well as reward professionals considering the next step in their career.

This article explores the most significant trends in the global reward recruitment market, backed by recent data and statistics. If you’re looking to recruit in reward, or for your next reward role, please get in touch with our specialist reward recruitment team today.

The impact and integration of technology in reward management

The use of technology in managing reward is becoming crucial, with companies who adopt it now able to enhance efficiency and add personalization to reward systems.

A Deloitte report highlights that 67% of companies are investing in digital tools to manage rewards programs, including platforms providing real-time data and analytics.

As a result, we’re seeing a rise in demand for reward professionals skilled in digital tools and data analytics. Familiarity with reward management software and technological proficiency are key hiring criteria for a lot of our clients.

continued emphasis on wellness and flexible benefit offerings

As companies aim to meet the diverse needs of employees, the demand for flexible benefits is shaping reward strategies to recruit and retain key talent.

According to a Willis Towers Watson survey, 68% of employers globally offer flexible benefits programs. PWC reports that 88% of organizations globally have incorporated well-being initiatives into their reward programs.

Employers are recruiting reward professionals who can develop and manage comprehensive well-being programs. Clients are increasingly looking for candidates with experience in designing and implementing flexible benefits packages with knowledge of various benefit options and customization skills are in high demand.

Jobs

  • Professional services

Senior Manager, Compensation & Benefits

The Frazer Jones team is partnering with a leading Professional Services company in search of their Compensation & Benefits, Senior Manager. This is an incredible opportunity to deep-dive into rewards strategies and to lead plus mentor a high-performing team of Compensation & Benefits specialists. This is a full-time, permanent position. Key Responsibilities Working closely with […]
  • Salary Up to SGD145000 per annum
  • Posted 1 dag geleden geplaatst
  • Logistics/supply chain

Total Rewards Manager

The Frazer Jones team is delighted to be partnering with a leading organization that is in the midst of transforming their rewards strategy. Join them as a Compensation and Benefits Manager/Assistant Manager (global-remit) to be at the forefront of driving these exciting changes! This is a full-time, permanent position. In this role, you will be […]
  • Posted 2 dagen geleden geplaatst
  • Professional services

Employee Benefits Manager

Frazer Jones is pleased to be partnering with a leading professional services firm to hire for an Employee Benefits Manager. This is a highly established and reputable brand in the market that is globally recognised. They have a highly positive culture that values collaboration, entrepreneurship and diversity. Reporting to the Head of Reward, you’ll be […]
  • Salary GBP75000 – GBP90000 per annum
  • Posted 3 dagen geleden geplaatst
  • Legal

Senior Reward Advisor

Overview A leading international professional services firm is seeking a Global Senior Reward Advisor to join its HR team on a 12-month fixed-term basis. This role offers the opportunity to contribute to a wide range of strategic reward initiatives across multiple regions, working closely with senior stakeholders and international HR teams. Key Responsibilities Support the […]
  • Salary GBP60000 – GBP70000 per hour + Full benefits included
  • Posted 4 dagen geleden geplaatst

Compensation & Benefits Manager

We are partnering with a leading international organization seeking a seasoned Compensation & Benefits Manager to lead the design and delivery of reward programs across the Netherlands and Belgium. This is a strategic role where you’ll shape compensation frameworks, guide a dedicated team, and ensure alignment with global standards. Main Responsibilities Strategic Leadership Develop and […]
  • Posted 4 dagen geleden geplaatst
  • Professional services

Head of Rewards & Exec Comp Consulting

We are partnering with a prestigious global management consulting firm with a strong presence across Southeast Asia, to appoint a Head of Regional Rewards & Executive Compensation Consulting (AP / Director level). Based in Singapore, this high impact leadership role will oversee the firm’s Rewards Advisory & Exec Comp practice across key markets including Singapore, […]
  • Posted 4 dagen geleden geplaatst

driving a towards total rewards approach that incorporates recognition

Compensation, benefits, recognition, career development and work environment must all be considered in the design of an impactful reward strategy.

According to Aon, 72% of companies are adopting a total rewards approach to improve employee engagement and retention.

There is a growing need for reward professionals who understand the holistic view of employee rewards. Companies are looking for candidates who can integrate a variety of elements to create a comprehensive reward strategy, particularly in linking reward to performance.

ensuring the incorporation of dei in compensation strategies

DEI considerations are influencing reward recruitment strategies, focusing on equitable compensation and inclusive benefits.

Mercer’s Global Talent Trends study reveals that 85% of companies are reviewing their reward policies to support DEI objectives.

The recruitment market is prioritizing candidates who have experience in creating fair and inclusive compensation structures. Expertise in conducting pay equity audits and designing diverse benefits packages are sought after.

conclusion

The global reward recruitment market is evolving rapidly, influenced by technological advancements, changing workforce expectations and a greater emphasis on employee well-being and DEI.

Employers need to adapt their recruitment strategies to attract and retain top reward talent that can implement change, while reward professionals should focus on acquiring skills that align with these emerging trends. Staying informed and agile will be key to success for all professionals in reward.

To discuss these trends in more depth, recruiting in reward or your reward career, please get in touch with Brad Law today.

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