Reward Strategy
Click here to read or download more about ‘Reward Strategy’
What is Reward Strategy?
- In return for their commitment, employees expect financial rewards such as salary, fringe benefits, bonuses or share options.
- They also seek other forms of reward such as recognition of competence, achievement, responsibility, influence and personal development.
- The challenge is to get the balance right.
We can help you to…
- Attract, retain and motivate staff of the right calibre;
- Identify superior performance and decide what to pay for it;
- Offer the right fringe benefits; and
- Keep your pay bill under control.
The process
Research
- Collect and review background information to establish what is or isn’t working and possible solutions.
- Typically involves 1:1 interviews, questionnaires and surveys, focus groups.
Design
- Analyse the research information to evaluate various solutions.
- This involves interactive workshops. Outcome: to propose a set of solutions for implementation.
Implementation
- Communicate and introduce new policies and procedures.
Our expertise enables you to…
- Measure market rates and how they affect your pay;
- Address equal pay through pay structures and administrative processes.
You can also differentiate between:
- Pay and reward, and how to use their differences strategically; and
- Paying for contribution, performance or competency.
“The integrity and experience of the Ways HR Consulting consultant was paramount. His work was always on time and to a high standard.”
Jenny Topham, Head of Operations, TPAS
Contact
- Paul Robertson, Head of Practice and Managing Director
- 0870 890 9882
- enquiries@wayshrc.com
Click here to read or download more about ‘Reward Strategy’
