Engaging and motivating employees through rewards
Effective reward is not just about raising salaries, but about finding the right reward programs for the strategic direction of your business and your unique work culture. What level of total reward can your business afford? How do you compare to your competitors? How can you focus your staff on the organization’s "must win" battles? How can you better engage your organization? How can you better attract and retain talent?
Hay Group’s approach to these challenges enables you to design and implement total reward programs that reflect your business strategy, work culture and the impact different employees make to the organization.
We work closely with key decision makers across your business to work out what your priorities are and how different job roles contribute to them. At the same time, we interact closely with your finance and human resources teams to understand the impact of employee performance and how your existing remuneration and reward programs operate.
From these foundations, we can help you develop an overall reward strategy, across different employee groups that pays the right people the right amounts for doing the right things.
Our aim is simple – to help you put in place a total reward program that creates real business value.
Short or long term?
Different objectives require different incentives. Find out how Hay Group recommends using long-term rewards and short-term incentives.
Learn more about the various elements of effective reward strategies:
- Benchmarking your rewards program
- Using short-term incentives
- Using long-term rewards
- Setting up salary systems
- Developing a reward architecture