Developing the right reward strategy will help you attract, retain and motivate the right people for your organization. And whether you’re a local business or a global brand, we can help you match what your people want with what you want to achieve, as well as what you can afford.
Developing a reward strategy that works at a cost that is affordable to you
Reward is one of the largest expenses you have. So it’s important to get it right. And this means more than just finding out what the market is paying. After all, your business strategy and work culture are unique to your organization and you know what you’re trying to achieve. So you need a reward strategy that reflects that and gets you results.
What those results are depends on you and your particular business strategy, but we’ll help you find the right mix of salary, incentives and benefits to achieve them. It doesn’t matter if you need to review your strategy or start it from scratch – we’ve got solutions and services available for all kinds of situations and plans.
Taking a total reward approach
Why do we believe in a total reward approach? Because our research and experience shows that you can get just as much (and in some cases, even more) employee engagement from non-financial rewards as from financial ones. Our total reward framework takes a strategic planning approach which looks at what you’re trying to achieve, what your people want, what you can afford and what is implementable. You’ll end up with a reward strategy that’ll help you attract, retain and motivate the right people at the right cost for your organisation.
It may be that you already have a reward strategy in place, but think that you can get more from it. If so, we can review it to help you get better results.
Making it stick
We can also help you to roll out your new reward strategy and communicate it so it sticks. For example, we’ll work with you to develop an employee value proposition that explains what it means to work for your company.