Dave Carroll, Global Head, Total Rewards for UPS, joined Dr. Edna Chun’s Transforming Total Rewards class for an engaging guest lecture on contemporary challenges in the rewards space. Mr. Carroll previously served as Vice President, Global Total Rewards for McDonald’s Corporation.
According to Carroll, the rapidity of changes in the work environment over the last two years due to the pandemic means that “the spotlight on rewards has never been brighter.” As he explained, the pandemic has expanded the boundaries of TR work in order to meet shifting employee expectations and needs. A hyper-competitive labor market has required more frequent and sophisticated wage reviews and wage compression mitigation. With an increasingly remote workforce and expansion of relevant markets, Rewards professionals have implemented policy changes on location-specific pay and now need to track multiple work locations and differing tax requirements. And in a less predictable business environment, rethinking of equitable rewards and recalibration of performance goals is particularly important. Furthermore, employees are expecting greater transparency in rewards and seek a reinvigorated commitment to employee well-being. At the same time, shareholders and institutional investors are focusing more strongly on diversity, equity, and inclusion in rewards work. As a result, the expansion of total rewards now includes other key elements of the employee experience.
Dave Carroll’s discussion with the graduate students clearly highlighted the changing dimensions and ongoing challenges of Total Rewards professionals. His remarkable openness in engaging with the graduate students and his thoughtful, interactive presentation provided great insight into the complex array of contemporary challenges in a rapidly shifting workplace environment.
