Case Studies
Developing a new Pay Structure
Your pay structure can be one of the most useful tools you have in your business, or alternatively it can be the most unhelpful. An out of date or under-appreciated pay structure can be fundamental to preventing you from achieving your goals. The lack of a structure can cause confusion and become divisive.
In this case study we consider how RRM Ltd helped our client to develop a more robust pay structure.
Review of Executive Pay and Reward
Ensuring that your pay for your executives remains both competitive and proportionate to your business is one of the biggest challenges organisations face.
This case study illustrates a typical example of where a client is keen to establish whether their pay and terms are relevant to their business sector.
In this case study we consider how RRM Ltd helped our client to develop a more robust pay structure.
Salary Benchmarking
Salary benchmarking is one of the most effective ways of ensuring that your pay is competitive. Knowing that your pay is competitive means that you can respond to employee queries with confidence. However, salary benchmarking is also one of the least followed processes in HR.
A quick sense check of the recruitment websites will tell you what other people are paying for the same job title – but does that mean it is the same job? Is the finance manager of a small housing association doing the same job, and earning the same as the finance manager of a larger manufacturing company? What is the competition like for finance manager posts? What is happening in the economy that will affect our ability to recruit/retain these posts?
Answering these questions for any post you are considering, will help you to identify what your pay issues might be. In this case study we show how we helped our client establish the rate for the job and identify market factors that affected their pay decisions.
Review of a Bonus Scheme
Bonus schemes have long been the recognised way of incentivising staff to focus on and deliver strategic objectives. However, in the past few years, organisations have sometimes found them difficult to maintain in a cost-conscious climate.
This case study considers how RRM Ltd helped the client decide whether a bonus scheme would be relevant to their organisation and if so, what type of scheme would be most appropriate for them.
Equal Pay Audit
No one sets out deliberately to have unequal pay practices, however it is easy for history, bias and lack of clarity to have exactly that result.
Many organisations shy away from undertaking an in-depth equal pay audit for fear of what they might find. However, if you don’t know what the actual problem is, how can you work towards alleviating it?
This case study outlines that actions and support we were able to offer our client in delivering an equal pay audit to make the board sit up and take notice.
Reward Strategy Development
Ensuring that your reward strategy links to your organisation objectives is fundamental to ensuring that your pay and benefits are aligned to the business needs. Yet, less than 80% of organisations have an HR strategy, let alone link it to their reward approach.
Reward and recognition is a fundamental part of the employer contract and staff engagement can be driven or stopped by the wrong strategic approach. Getting staff engaged is about recognising their needs and wants and ensuring your employer value proposition (EVP) is set up to support this.
It is important to get this right for your business but delivering a strategy that aligns your reward with your corporate objectives and business goals needs commitment from within the business.
This case shows how we worked with our client to ensure that they developed a strategy that meets their business goals.
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