Reward Excellence In Your Organisation
If you want to incentivize your team to perform and/or to ensure you are competitive in your reward package amongst your peers, we have the reward and benchmarking experience to support you.
Addressing Your Core Challenges
Reward can seem fairly complex for business leaders. They often look for an insight into what others are doing in their space and how they can remain competitive. The right incentivization can make a huge impact on team and individual performance. We can remove the unknown from employee and management reward.
Our reward experts provide sound and practical advice and guidance for our clients from their decades of experience. From strategy setting and planning to implementation. From bonus schemes to post M&A integration, we have you covered.
Reward Excellence In Your Organisation
If you want to incentivize your team to perform and/or to ensure you are competitive in your reward package amongst your peers, we have the reward and benchmarking experience to support you.
Addressing Your Core Challenges
Reward can seem fairly complex for business leaders. They often look for an insight into what others are doing in their space and how they can remain competitive. The right incentivization can make a huge impact on team and individual performance. We can remove the unknown from employee and management reward.
Our reward experts provide sound and practical advice and guidance for our clients from their decades of experience. From strategy setting and planning to implementation. From bonus schemes to post M&A integration, we have you covered.
Download our new white paper, Optimising Employee Reward Strategies
In this paper we examine some of the current practices and trends seen in the area of employee reward, the correlation with employee retention and engagement, and how the future may look. For organisations trying to get to grips with or improve their reward offering, this paper also contains some helpful pointers.
Download our new white paper, Optimising Employee Reward Strategies
In this paper we examine some of the current practices and trends seen in the area of employee reward, the correlation with employee retention and engagement, and how the future may look. For organisations trying to get to grips with or improve their reward offering, this paper also contains some helpful pointers.
Our Approach to Reward and Benchmarking
Some of the areas that our clients ask for HR reward support include:
- ✅ To undertake and report on salary (and benefit) benchmarking.
- ✅ To help new start companies to establish new employee benefit programmes.
- ✅ To streamline and standardise job titles.
- ✅ To introduce ‘job families’ to provide organisational structure for reward and development.
- ✅ To develop or review formal and informal job grading structures.
- ✅ To develop and implement sustainable performance management processes.
- ✅ To create job evaluation frameworks linked to current salary scales.
- ✅ To review or develop the company’s reward policies and or pay philosophy.
- ✅ To review or design incentive schemes including commission and bonus schemes.
Our Approach to Reward and Benchmarking
Some of the areas that our clients ask for HR reward support include:
- ✅ To undertake and report on salary (and benefit) benchmarking.
- ✅ To help new start companies to establish new employee benefit programmes.
- ✅ To streamline and standardise job titles.
- ✅ To introduce ‘job families’ to provide organisational structure for reward and development.
- ✅ To develop or review formal and informal job grading structures.
- ✅ To develop and implement sustainable performance management processes.
- ✅ To create job evaluation frameworks linked to current salary scales.
- ✅ To review or develop the company’s reward policies and or pay philosophy.
- ✅ To review or design incentive schemes including commission and bonus schemes.
The Outlook for the Reward Landscape Has Changed in Recent Years, as Have Employee Expectations
If anything, the past two years have taught us not to expect anything about what we once knew to be ‘the norm’, and the reward landscape is no exception. We once understood what employees wanted in terms of rewards and benefits at work, but recent health, political and economic emergencies have triggered a dramatic shift in desired reward offerings, forcing businesses to rebuild people strategies to better suit new ways of working and suppress the effects of the great resignation, spiking inflation, and an impending recession.
It’s clear that the combination of ‘the great resignation’, our emergence from COVID-19, a greater focus on pay equity, and unusually high inflation has thrown everything in the reward landscape up in the air and that the ingredients of a successful reward proposition have changed. Reward can no longer be looked at in silo. Instead, it must be considered in conjunction with other elements of HR to help build a holistic, well-rounded proposition that aligns with a changing and dynamic workforce that has increasingly diverse needs.
The Outlook for the Reward Landscape Has Changed in Recent Years, as Have Employee Expectations
If anything, the past two years have taught us not to expect anything about what we once knew to be ‘the norm’, and the reward landscape is no exception. We once understood what employees wanted in terms of rewards and benefits at work, but recent health, political and economic emergencies have triggered a dramatic shift in desired reward offerings, forcing businesses to rebuild people strategies to better suit new ways of working and suppress the effects of the great resignation, spiking inflation, and an impending recession.
It’s clear that the combination of ‘the great resignation’, our emergence from COVID-19, a greater focus on pay equity, and unusually high inflation has thrown everything in the reward landscape up in the air and that the ingredients of a successful reward proposition have changed. Reward can no longer be looked at in silo. Instead, it must be considered in conjunction with other elements of HR to help build a holistic, well-rounded proposition that aligns with a changing and dynamic workforce that has increasingly diverse needs.
So what should employers be doing to make sure their reward offering is fit for purpose?
- ✅ In today’s environment, employers must ensure their reward proposition is attractive and built on a foundation of flexibility, strong career prospects and a deep understanding of current and prospective employees’ intrinsic and extrinsic needs
- ✅ Seek employee input on the design of their reward programme and, where possible, align it with their needs; an offering tailored to your workforce is more likely to attract and retain top talent
- ✅ Consider adopting a hybrid/flexible working arrangement that is sought after by many in the post-COVID-19 world
- ✅ Establish a robust pay equity management framework and remedy any issues that exist
- ✅ Take inflation into account when setting annual salary budgets
So what should employers be doing to make sure their reward offering is fit for purpose?
- ✅ In today’s environment, employers must ensure their reward proposition is attractive and built on a foundation of flexibility, strong career prospects and a deep understanding of current and prospective employees’ intrinsic and extrinsic needs
- ✅ Seek employee input on the design of their reward programme and, where possible, align it with their needs; an offering tailored to your workforce is more likely to attract and retain top talent
- ✅ Consider adopting a hybrid/flexible working arrangement that is sought after by many in the post-COVID-19 world
- ✅ Establish a robust pay equity management framework and remedy any issues that exist
- ✅ Take inflation into account when setting annual salary budgets
Why Trust Our Expertise?
We have supported a vast number of clients to design and develop fit-for-purpose remuneration and reward strategies for the past decade, helping them to implement clear, transparent procedures that align with their values and fit with the sense of being a good practice employer. We also have non-executive directors who sit as renumeration committee members on company boards.
We have provided reward and benchmarking support across the public, private and third sectors and our feedback is consistently excellent.
Why Trust Our Expertise?
We have supported a vast number of clients to design and develop fit-for-purpose remuneration and reward strategies for the past decade, helping them to implement clear, transparent procedures that align with their values and fit with the sense of being a good practice employer. We also have non-executive directors who sit as renumeration committee members on company boards.
We have provided reward and benchmarking support across the public, private and third sectors and our feedback is consistently excellent.
