First, let’s talk about benchmarking. Benchmarking isn’t a necessity in the process of redesigning your talent mobility program. Benchmarking is going to tell you what other companies are doing and if you’re looking to affirm where your company stands respective of your competition, that can be beneficial. On the flip side, knowing what other companies are doing shouldn’t necessarily dictate what your company should do. Don’t be afraid to try something new and be a trailblazer.
A key component in program redesign is benefit utilization. You can benchmark your program benefits all day long, but what you really need to be looking at is what benefits are actually being utilized by your employees and what benefits are not, including what benefits receive the most exception requests.
If you are pursuing a program redesign, especially if you’re making significant changes to your program such as increasing flexibility, adding or removing benefits, etc., understand it will likely not be a one-and-done situation. Every company we’ve worked with over the past several years to redesign their talent mobility programs has had to consistently apply tweaks here and there, and that’s not a bad thing, it shows you’re willing to flex and adjust to meet the ever-changing needs of your talent.