Reward strategy and reward reviews

We have been reviewing reward structures for almost 50 years.  A regular review is the best way to understand the effectiveness of your remuneration framework. So we measure the full costs, discern trends, and assess the effect of changes in the labour market and in tax policies.

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We can:

• undertake annual audits of all cash and non-cash benefits, evaluating their effectiveness

• help you understand changes in labour markets

• create new structures for pay, grading and progression

• make sure your pay strategies support your objectives

• motivate employees through new schemes and measure their success

• organise new systems for pay (including negotiation with trade unions)

• set up performance-related pay or team incentives

• analyse the costs and structure of benefits packages

• create mechanisms and controls for minimising pay drift

• streamline your administrative processes.

 

You need to know if your pay and reward practices are aligned to business priorities, identify risks and support future decisions.

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An annual pay review would normally include salary benchmarks to ensure that the pay structure remains competitive, affordable and aligned to the organisation’s pay policy and reward strategy.

Any detailed review should commence with a review of the current grade structure, the pay and benefits structure, and other terms and conditions of employment.  The review should also encompass all pay and benefit processes, procedures and documentation.

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Our experts can make your current pay and reward systems more effective and efficient