Another week, another amazing event! The RemNet Annual Conference 2023, themed “Balancing Acts – Navigating Stability in Remuneration,” was a landmark event in the realm of workplace equity, labour dynamics, and technological integration – all of which the HealthNow team are totally fizzed about. Having our CEO and Founder Steve speaking was a great moment for the team, as he discussed a range of topics that resonated with so many in the room.
The conference emphasised that equity in the workplace transcends social responsibility. It’s a catalyst for employee motivation and productivity. Businesses embracing equitable practices are not just contributing to societal good but are also enhancing their internal dynamics, leading to a more motivated and productive workforce. It goes without saying that remuneration and benefits need to follow this program and also be equitable, diverse and inclusive which is a hard goal to deliver when building off the traditional model.
Despite improvements, a significant talent shortage persists, affecting all sorts of companies.. From big to small and across many different industry sectors. The conference highlighted this ongoing challenge, emphasizing the need for innovative strategies to attract and retain talent.
A poignant statement from the event was “AI won’t take your job, but somebody who knows how to use AI will,” this captures the essence of the current job market. It emphasises the importance of upskilling and adapting to technological advancements, a theme resonating throughout the conference. We have heard this message from several very smart speakers at different events this year.
Businesses are increasingly focusing on employee-centric approaches, particularly in remuneration and rewards. The conference featured discussions on how these approaches foster a more engaged and committed workforce, with more tailored solutions having impacts on reduced absenteeism and presenteeism as well as finding a positive balance in pay review cycles and lowering staff turnover.
The significance of people analytics in evaluating remuneration and benefit strategies was a key topic. Utilising data helps businesses tailor their approaches to meet specific workforce needs.
The conference highlighted the widespread issue of inequity, especially affecting women and minority groups. Initiatives like HealthNow, discussed at the event, contribute to closing the gap on these inequitable outcomes.
The event featured an impressive lineup of speakers and panelists, including economics speaker Tony Alexander, wellbeing expert Lucy Hone, gender and policy expert Jo Cribb, and representatives from notable organizations like Aon NZ, Our own Steve from HealthNow, and Air New Zealand. These experts provided diverse perspectives on remuneration, rewards, and workplace equity.
Remuneration and Benefit (RemBen) specialists face daily challenges in balancing business needs with employee well-being. The conference emphasised the importance of efficient, high-value benefits plans to reduce administrative burdens. We noticed there was genuine focus on how the professionals in these roles can break free from the historic shackles of benefits administration and look to catch up with their peers offshore, particularly in the UK where inclusion and choice are far more mature than in New Zealand.
The RemNet Annual Conference 2023 offered a comprehensive overview of the current state and future of the workplace. From equity and AI integration to the evolving role of RemBen specialists, the event provided valuable insights for businesses and HR professionals. As we move forward, these themes will continue to shape the dynamics of businesses and the job market, emphasizing the need for adaptability, technological proficiency, and a focus on employee-centric approaches.
We really enjoyed this event and look forward to participating again next year, we met some amazing people and had very meaningful conversations with smart, genuine people wanting to improve outcomes for their people.