TR2050 is at the forefront of a transformative journey, challenging and disrupting traditional reward assumptions to discover new models that truly reflect the evolving nature of the future of work.
Revolutionising Total Rewards for the future
TR2050 is a ground-breaking global initiative aimed at exploring, redefining, designing,
innovating, and testing bold and transformative approaches to total rewards for the future.
Total Rewards encompasses the methods, tools, and practices used to compensate and recognise individuals employed within organisations for their contributions. It encompasses not only financial aspects such as cash equity, benefits, and other monetary elements, but also intangible rewards like education, development and well-being.
How work is conducted is undergoing significant transformation as results of emerging and future technologies, organisational change, demographics and societal trends. The specifics and dynamics of the future labour workforce remain uncertain. Therefore, it becomes crucial for the concept of reward to adapt and to embrace whatever challenges lie ahead.
TR2050 strives to accelerate the necessary changes in Total Rewards practices to effectively address the rapidly evolving needs of global organisations. Its ultimate goal is to create a diverse array of innovative approaches, models, and practices that align with the future of work and effectively reward the workforce.
To achieve this objective, TR2050 will forge partnerships with exceptional corporate leaders, academics, and thought leaders who share a commitment to advancing the field of rewards and meeting its objectives. These partnerships are characterised by a pioneering spirit, collaborative ideation, and a steadfast dedication to shaping the future of reward.
TR2050 goes beyond traditional notions of total rewards and rejects quick fixes through the adaptation of outdated methodologies. Instead, it acknowledges the rapid transformations unfolding in the way work is performed, changes in society, new organisational structures, technology adoption, evolving communication methods, and the values and behaviours of the next generation workforce. By leveraging medium to long-term future scenarios, TR2050 prepares Total Rewards for the decades to come. Through innovative thinking and pilot programmes, it aims to establish a new framework for effective Total Reward solutions that can meet future work practices and models.
- Define: By defining and exploring the current landscape of Total Rewards practices and understanding the underlying assumptions, existing methodologies and prevailing trends.
- Discover: The initiative then shifts its focus towards discovering future scenarios, aiming to uncover and predict the evolving landscape of Total Rewards. By exploring emerging trends, TR2050 projects future practices and anticipates the needs and expectations of the workforce and future organisations.
- Develop: Using the insights gained from the previous stages, TR2050 works collaboratively to develop strategies and design innovative solutions. This involves creating new approaches and frameworks that align with the changing demands of the workforce and the future of work.
- Deploy: The development solutions are rigorously tested and deployed aiming to bring about transformational changes in total rewards practices. This phase involves implementing pilot programmes and initiatives to assess their effectiveness and refine them based on real-world feedback.
Learn more about our process.
This initiative distinguishes itself as more than just a network, forum or club. It is a collaborative development plaform led by experienced reward practitioners and esteemed thought leaders, dedicated to research, design, development, and testing.
What sets TR2050 apart is its unique ability to pilot and test ideas, theories, and models within member organisations. Unlike traditional research plaforms and models, TR2050 focuses on action and practice-based advancements. It goes beyond mere networking or meeting groups by actively pursuing the materialisation of ideas and thinking. Through tangible developments and practical implementation, TR2050 ensures that ideas are not left as fleeting thoughts but are pursued and transformed into meaningful outcomes.
TR2050 is open to partnerships with companies, organisations and institutions that demonstrate a genuine interest in the initiative’s objective and process.