Driving organizational and individual performance
From setting remuneration levels to identifying the right incentives, benefits and executive rewards, to aligning job and organizational structures; providing the right reward program is essential to attracting and retaining talented staff at all levels.
However reward systems are also important tools for driving organizational and individual performance. This is particularly the case in tough economic times. Reward programs – which can represent up to 70 per cent of the total costs of an organization – demand closer examination to ensure they are delivering a good return on the significant investment they represent.
When you add in the fact that Hay Group research has shown that, on average, it costs the equivalent of six months’ salary to replace a person who leaves an organization, the importance of investing time and effort to get your reward programs right is clear.
With Hay Group, you gain experience, expertise, market knowledge and insight. We offer the world’s most comprehensive remuneration, benefits and reward management practice databases, combined with the world’s most rigorous and widely used method of job evaluation. Our global network of total reward consultants provides a clear understanding of business practices, industry trends and most of all, of people. And our proprietary Total reward framework helps you put in place a reward architecture that’s fit for today’s business climate.
Hay Group’s database of total remuneration and employee benefits, PayNet, contains more than seven million individual records, from over 13,000 of the world’s leading organizations.
Find out more about PayNet®, our unique remuneration database.
To learn more about Hay Group’s reward services, explore the links below.