- Total Reward Strategy
- Executive Reward
- Bonus and Sales Incentives
- Job Evaluation and Competency Frameworks
- Market Pricing & Salary Range Structures
- Performance Related Pay
- Benefits Design
- Recognition Schemes
- Mergers & Acquisitions Support
- C&B Interim Support and Mentoring
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Reward strategy is the art of combining the key elements of your reward programmes into tailored packages designed to achieve optimal employee engagement. There are a myriad of ways to define your total reward strategy. The key is formulating the strategy which is the best fit for your business/organisation. Our consultants can work with you to design and/or implement a focussed reward strategy that best meets the unique requirements of your business/organisation.
The design of effective executive remuneration can be challenging, even complex at times. In the current regulation focussed environment this is unlikely to change. We work with clients to develop executive remuneration packages which are appropriately leveraged in terms of variable pay and performance criteria. We advise Remuneration Committees in relation to the best reward practice and their market competitiveness.
Depending on your audience, the perception of bonus and sales incentives programmes can vary from the holy grail of effective pay for performance, to a waste of money. We work with clients to design and implement bonus and sales incentive plans that are robustly linked to and contingent on business performance. We also conduct audits on the effectiveness of current bonus and sales incentive plans and make appropriate recommendations based on our findings.
As organisations grow in size it becomes increasingly important that they have a process/structure that differentiates fairly between job levels in the organisation. In an increasingly knowledge-based economy, it is essential/critical that organisations define the key competencies they require employees to have by both job family and level. We work with clients to custom design job evaluation and competency frameworks which are aligned to the needs of their business/organisation
Organisations need to ensure that their reward offering is and remains market competitive, while at the same time ensuring their reward programmes cost is affordable over the long term. We work with clients to assist them in assessing/establishing their market competitive position, then advising them on any appropriate actions that need to be taken and also assisting them with the implementation of these actions should it be required. We design salary range structures for organisations to deliver a structure which is aligned with the organisation’s desired market competitive position.
Performance management focuses on delivering sustained success to organisations by enhancing the performance of people in line with organisational objectives. We work with our clients in designing performance management systems which align team and individual performance with organisational objectives. In addition to designing a performance management model suitable to the needs of the organisation we also assist with the implementation of the model by developing and running manager and supervisor training workshops
Benefits make up a significant element of total reward in most organisations and are becoming increasingly more expensive for many organisations. We work with client organisations to deliver/provide an integrated range of benefits which are sustainable long-term.
The importance of recognition and the impact it can have on employee engagement is often underestimated within organisations. We can assist clients in designing recognition programmes to ensure the organisation has processes in place to recognise employee contributions and behaviour at all levels.
Many reward management challenges arise within organisations during mergers and acquisitions, particularly so when multiple regulatory/legal jurisdictions are involved. We have significant in-house and consulting experience of successfully dealing with and managing these challenges.
Increasingly organisations are experiencing challenges in ensuring they have adequate in-house resources to cover their reward management requirements. We provide assistance and hands-on support to organisations who need speedy access to experienced compensation and benefits (C&B) specialists. This assistance can take many forms but it can include
- additional hands on support for a dedicated period of time to get key projects implemented
- filling senior reward management positions on an interim basis while the client organisations seeks to hire a full time resource or
- coaching less experienced C&B staff so that they rapidly progress up the learning curve in their new C&B role