Reward & Benefits.
As the world of work changes, so to must your organisation’s total reward strategy. Competition for scarce talent, along with the imperative to both engage and retain your existing talent, has put the reward agenda firmly back on the front foot across just about all industries and organisations. Questions around pay and pay increase levels, pay bands, pay equity, pay progression, retention incentives, changing employee benefits and allowances like home-working, and incentives mean that a number of organisations are looking again critically at all of they key elements in their reward philosophy and total reward strategy.
Reward Consultancy
Our reward consultancy provides businesses with tailored and problem specific solutions to drive performance, and engage and retain talent across the organisation. We work collaboratively with our clients to ensure that our total reward solutions deliver real value and are right for you.
We also assist our clients in implementing and adopting anything that we advise on or recommend. This insures that our recommendations are practical and attainable under real world operating conditions.
Challenges Organisations Face
In our experience, problems with Reward Strategy typically manifest in one, or more than one, of the following symptoms:
Low levels of engagement and higher than normal staff churn
Pay scales that are out of date and no longer fit for purpose
Inability to attract or retain the right talent
Benefits not aligned with the new way of working and changes in the way people want to work
Concerns over pay equity and fairness
Outdated or no formal pay policy in the organisation
Contention around job sizes and benchmarking
Pay philosophy that does not support the organisation’s objectives
Increasing payroll costs without an increase in productivity
Uncertainty on how to structure variable pay to align with the rest of the reward agenda and business objectives
How we can help you
Our reward consultancy works closely with your people leadership team and other stakeholders to review any or all of the components of your reward or pay strategy. If you don’t have one, we will work with you to define and develop one. We have expertise and experience in all of the following:
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Total Reward Strategy
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Pay philosophy and policy development
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Market positioning
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Job evaluation and benchmarking
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Pay-scale development
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Pay progression policy
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Employee Benefits advisory
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Recognition and variable pay
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International reward advisory (Our experience incorporates the UK market as well Ireland and Europe, the US, APAC and Africa and as such we provide a convenient London-based consulting partner to clients with operations and people across more than just one country).
Our reward consultancy works with organisations across the business spectrum, from large listed companies to smaller private companies, and from both the public and private sectors.
