Are you making the most of your spending on employee reward?

Staff costs are usually an organisation’s biggest expense, so it makes sense to review these periodically. Savings can be made by ensuring that you are targeting your reward spend effectively and by providing your reward components as efficiently as possible. Here are two ways that we can help:

... Our Reward-Check assessment can tell you

Our Reward-Check assessment will enable your company to find out whether it is getting value from the money it spends on rewarding its employees. It includes a discussion with the person responsible for reward in your organisation so we can gain a full understanding of the reward strategy, values and culture.

Afterwards, they will receive a full report outlining the strengths and weaknesses of your organisation's current reward practices. Where appropriate, it will also suggest how more might be made of your reward spending.

Call us or complete the form at the bottom of this page to book your Reward-Check assessment

... Our Reward Review can help maximise your reward spending

Reward Review is a flexible offering that we will tailor to your organisation’s needs. We provide it in three stages and you can commission us to conduct as many aspects of it as you need. By combining our reward expertise with that of benefits and investment specialists, our Reward Review will advise you on how your offering compares with the market. We can conduct a strategic review to indicate how you can make improvements in pay practice and achieve savings on reward provision. To ensure continuity, we take care to align any changes with your organisation’s culture, values and management style. We can support you with the implementation of any changes and can advise you on adapting reward as your organisation evolves.

Call us or complete the form at the bottom of this page and we'll contact you to find out exactly what your requirements are, and tailor our review to suit your needs. See our Reward Review brochure (PDF) for further details.

The Reward Review menu consists of three stages from which you can select:

Stage 1: Benchmark

> We use our Salary-Check database and reward expertise to accurately assess your existing reward provision

> We will examine basic pay, typical bonuses, and benefit levels for your organisation’s size, location and sector. 

> You get a summary report that shows how the overall reward and the balance of the various components compare with the competition.

Stage 2: Review

> Do you seem to be losing staff to competitors? Let us examine your basic pay structure and your methods of pay progression to test their health. 

> Are you aware of your equal pay position? We can run an equal pay audit, highlighting risk areas and suggesting remedies.

> Do your bonus schemes still motivate staff in the way they were intended? We can review the structure and effectiveness of existing schemes.

> Can you be sure that you provide reward components that your staff want? We can conduct surveys and focus groups to check staff opinion for you. We can also arrange a comprehensive review of your benefits arrangements.

Stage 3: Implement

> Let us design a pay structure that gives you the required level of central control and managerial discretion over pay decisions.  This will enable you to target pay increases and reward performance. 

> We can support the development of performance management or competency systems that are designed to fit your organisation's culture and values.

> If required, we can apply our job evaluation system to ensure fairness in your systems.

> Let us construct a bonus scheme that is simple to administer and understand, and rewards the performance you want.

> We can put you in touch with benefits providers to advise on and arrange the most appropriate pension, health and flexible benefits products for your organisation.

> Finally, we can help to compile a reward strategy and the policies to underpin this. 

Interested?

We would welcome the chance to talk about the pay issues you face and how we can help you make the best use of your reward budget. Complete the form below and we'll contact you to talk about how we could work with you.