Reward Strategy

Reward Management Services

Did you know…
Most organisations spend more time monitoring their utilities and maintenance bills than they do managing their paybill? Getting your pay levels wrong can affect your ongoing costs, and also the morale and commitment of your staff. Pay is more often than not given as a reason for leaving, but you can take steps to ensure that your pay structure suits your needs and retains your staff. 
Where do we start?

We start by finding out what you want to achieve with your pay framework. We help you with understanding the different types of pay frameworks and get your key players involved in designing and developing a pay framework that helps you meet your business goals. We support you with employee communications and engagement in the process.
What will it mean?

Getting the pay levels right means your staff can concentrate on doing their jobs instead of what is wrong with their pay. You will have a fair and consistent approach to pay that helps support your business goals. You will be able to identify and understand the pressure points in your pay framework and know what steps to take to alleviate them. You will be able to explain differences in pay and why they are there.

Remuneration Committee Support

Guidance from the FCA recommends that decisions on pay should be undertaken by a board/remuneration committee that comprises a broad range of skills and knowledge, with members from a variety of backgrounds that particularly include HR (for the people management side), and members with sector (crucial for the wider understanding) and other relevant experience.   If there is a skills gap, the guidance recommends specialist advice is sought.

FIND OUT MORE
FIND OUT MORE

Executive Reward Management

Losing staff at executive level can have a significant impact and recent research suggests it could cost as much as 6x the salary in lost profit.  With today’s salary rates that doesn’t take much to build up to £millions of losses.

FIND OUT MORE
FIND OUT MORE

Reward Strategy Development

The CIPD has reported that less than 80% of organisations have a defined HR strategy and less than half of these organisations make any effort to align their reward strategy to their business objectives.  

FIND OUT MORE
FIND OUT MORE

How can I help?
Let’s talk.

The best way to tackle any problem is to start talking – give me a call on 07415 974004 or drop me an email at janeb@rewardrisk.co.uk
GET A PROPOSAL
Share by: