Improving performance and engaging employees through reward
Effective reward is not just about raising salaries, but about finding the right employee reward programs for the business climate, 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 attract and retain talent more effectively?
Hay Group’s approach to these challenges enables you to design and implement total employee reward programs that reflect your business strategy, work culture and the impact different employees make to the organization. Our Total Reward framework provides a process that ensures your employee reward programs serve the needs of your organization and your employees.
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 employee reward programs operate.
Employee recognition plays a key role in providing incentive for your staff to go above and beyond. 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 an employee 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 services: