How Dow is refreshing its global total rewards for max impact
Michael Horne jumped from candy maker Mars to Fortune 500 conglomerate Dow two years ago as head of global total rewards, and his journey remains sweet.
When Horne arrived at Dow, the materials science company was fresh off of an announcement that it was rolling out a refresh of its global total rewards program. That update included reinstating its employee stock purchase program and launching a wellness portal, along with other initiatives.
Related: To learn more about trends in total rewards, attend the Get Creative With Your Benefits: Solutions for Your Employees' Unique Needs session at HRE's Health & Benefits Leadership Conference. It's happening May 3-5 at Mandalay Bay in Las Vegas.
Since May 2021, Horne and his team have executed on the multi-year total rewards refresh strategy, resulting in more than 30% employee participation in the stock purchase program and nearly 80% active engagement with the wellness portal, he recently told HRE in an interview at the i4cp Next Practices Now conference.
Related: It's a new world of total rewards: 4 strategies for systemic rewards
Watch below to learn more about how Horne and his team worked through the program reassessment, its impact, challenges and takeaways for others. Plus, find out about next steps.
HRE: Tell me about Dow's work on total rewards.
Whenever an employer looks to rollout a global total rewards program or institute a major revision, it requires a certain mindset and approach. Horne and his team took this to heart; Horne says this playbook also can be reproduced by other HR leaders.
HRE: How can others emulate your global total rewards program—the right way?
Dow is nearing the completion of its refresh with just a few pension-related items left. But Horne is already eyeing the next steps for the program. One calls for a deeper dive into unchartered waters.
HRE: What's next for your global total rewards program?
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