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Aon-Rethinking Rewards-White Paper

Issue link: https://insights.humancapital.aon.com/i/1123210

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Rethinking Rewards: How to Compete with Technology Companies for the In-Demand Digital Workforce 1 Introduction Ten years ago, hardly anyone could imagine taxi companies or hotels as technology innovators. Then players such as Airbnb and Uber arrived on the scene, blurring the lines between tech and non-tech and completely revolutionizing their respective industries. Traditional hotel and transportation businesses were disrupted by digital competitors, and this industry convergence is threatening their core business models. But they're not the only ones. Organizations everywhere are riding the tidal wave of industry evolution and have become increasingly reliant on technology to maintain and improve their market position. They're forced to contend with strategic, big-picture questions such as: • Who are the key players entering or looking to enter our market space? • What disruptions brought on by market and technology changes can we predict or plan for? • How can technology help us connect with customers and add value at a deeper level? • What type of people do we need to enable digital transformation now and accelerate our future growth? This has led organizations across the board to face the reality that they're competing for the kind of in-demand digital capabilities that were once only commonplace at traditional tech companies. Creating a total employee experience that attracts, motivates and rewards key players in a fast-moving digital environment will require a holistic approach to designing compensation and rewards programs.

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