Video tutorial: Understanding the impact of the digital age on reward
The changing nature of work and employment relationships in the digital age is having a huge impact on reward, according to Daniel Hibbert, author of ‘Thunder Cloud: Managing Reward in a Digital Age’.
Watch Daniel Hibbert's session in full.
Speaking at the REBA Reward Leaders' Forum Hibbert showed how the Romans rewarded their armies 2,000 years ago. “That’s the same way we think about reward today and I think there are many changes that have happened that mean that model no longer works,” he said.
Changes included the amount of money around and also the way that people use money. “It was for necessities and now a lot of money is for lifestyle and status and that has real implications for the way that we reward people,” he said.
The changing nature of jobs – and the more complicated skills required of staff was also a factor, he said. “A lot of reward is about psychology - the way people think they are being paid rather than the amount,” he said.
Hibbert said there also needed to be a change in thinking about how reward is managed. “There will be a step change in the skills that reward professionals will need going forward. Reward gets lost between finance and HR most of the time. The role of reward professionals should be to join those two things together,” he said.
This video tutorial was filmed at the REBA Reward Leaders' Forum which took place on 27 April 2017.
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