Reward Advisory

Developing a reward and compensation framework which supports the business strategy and helps drive sustained performance improvement is vital. The increasingly complex regulatory and corporate governance environment adds yet another dimension to consider. Whilst responding to changing business priorities and the need to attract, retain and motivate key talent, organisations still need to ensure they are getting value for money from these programmes. Organisations are targeting spend on key performers; to this end, performance improvement is a high priority for many businesses.

Potential issues - Do you need to:

  • Future proof your reward strategy;
  • Assess whether your reward programme (base salary, incentives and employee benefits) remains market competitive and identify labour cost savings;
  • Review the link between pay and performance;
  • Resolve a retention / motivation issue;
  • Ensure that employees fully understand and value their reward package;
  • Ensure that your executive remuneration committee is equipped to make the right decisions.

How we can support you
We combine compensation, tax, legal and data capabilities globally to work with our clients to develop practical solutions that work from both a business and a cultural perspective. Our approach can help you to build a business case to support recommendations. Our services include (please select an option below for further details):

Reward Strategy

Assist organisations to tailor their reward strategies with a focus on both internal and external factors such as:

  • Ensuring a fit with organisational culture;
  • Employee segmentation;
  • The ownership structure;
  • The mix between long / short and fixed / variable pay;
  • Non-monetary benefits e.g. learning & development and flexible hours.

 

Reward Benchmarking

Provide remuneration data from basic ‘job-pricing’ to full remuneration reviews across entire workforces. Use in house survey-based databases providing information on all aspects of remuneration enabling companies to:

  • Ensure remuneration packages remain competitive;
  • Review benchmark data with benefit of underlying trends;
  • Identify possible weakness in the various components of reward;
  • Determine their overall reward policy and link to business strategy.

 

Performance / Incentives

Advise on various aspects of rewarding and recognising performance, contribution and competence, including:

  • Performance management processes;
  • All-employee incentive arrangements;
  • Sales and service staff incentives, risk adjustment, focus on longer term performance and share plans;
  • Ensure that incentive arrangements are motivational and a good ‘fit’ with business objectives.

 

Job Evaluation

Help organisations understand the relative ‘size’ of jobs, examining accountabilities and competencies, and enable organisations to build a suitable pay and grading structure to support the business requirements.



 

Remuneration Committees / Corporate Governance
  • Assist Remuneration Committees to develop procedures for setting high level executive remuneration;
  • Provide up to date information on pay practice tailored to the organisation’s sector, size (employee number / market cap) and complexity;
  • Remuneration Committee training;
  • Regulations / Corporate governance.

 

Flexible Benefits
  • Develop, implement and monitor efficient flexible reward strategies, tools and processes;
  • Measure the value added by implementing a flexible benefits programme.


 

Reward Communication
  • Assist organisations to get value from their investment in reward by increasing understanding and appreciation across the workforce;
  • Communicate effectively using qualitative and quantitative data collected through employee interviews, surveys, focus groups, etc;
  • Make change stick by identifying and engaging key stakeholders and crafting compelling internal marketing campaigns.

 

Performance Management
  • Design appropriate performance management system and processes to support the delivery of long term organisational goals;
  • Identify key performers and priority staff;
  • Support incentive plan award process.