Reward
- Job Grading
- Base pay design
- Benefits scheme design
- Benefits efficiency measuring – Harmony
- Variable Pay Design
- Long Term Incentives Plan design - LTIP
Job Grading
Job grading is the alignment of internal hierarchy of jobs and positions in the company by comparing them, determine their relative weight / importance within the company and position them in descending order of weight. The purpose of job grading - differentiated positions, based on their contribution to the company's results.
Benefits of job grading,:
- Development of a system of job grades which makes the structure of the organization clear and transparent for both management and employees
- Creation of job requirement packages as a basis for recruitment, competencies and career development
- Employees able to perceive the next level on which they can be promoted
- Ensuring more objective approach to promotions
Base pay design
On the basis of approved grading structure we will create base pay ranges in accordance with market practice.
We would collect your current salary data, compare them with market data for the same positions and give proposal on ranges within the grades for all positions included.
By collecting your current salary data, we would prepare calculation of budget impact of potential salary changes for your understanding and easier decision making on potential changes.
Benefits scheme design
Non-cash incentives and benefits – based on a detailed analysis of the current incentives and benefits package and their market value, and with the organisation’s business goals and cultural values in mind, we design a plan that achieves the right balance between the different monetary and non-monetary elements of pay. Our solution captures different employee groups with their sphere of influence, interests and impact on the business results which allows us to create flexible schemes and ensure a high level of employee commitment.
Benefits efficiency measuring – Harmony
Harmony is a real-time analytics platform that measures individual employee preferences. The application measures in real-time ‘how’ individuals make decisions, their preferences, decision drivers, perceived values, and choice likelihood. It generates highly predictive employee insights that can drive performance improvements and satisfaction while decreasing cost.
Harmony identifies, then precisely measures the degree to which benefits, incentives, and opportunities differ from the expectations of the individual, then helps align both offer and expectation to deliver desired outcomes while optimizing the use of the contributing resources.
Variable Pay Design
Variable pay, also known as performance pay, is used to recognize and reward employee contribution above and beyond their normal job requirements, towards company productivity, profitability and quality.
The outcome of the designing variable pay system within the reward framework would be precisely defined link between:
- company results,
- individual performance (achievement individual’s goals),
- job grades and
- overall company strategy.
Long Term Incentives Plan design - LTIP
The goals a of long-term incentive are commonly the following:
- align the interests of shareholders and executives;
- encourage and reward top managers’ behaviors that lead to the achievement of high-riority goals, increase shareholder value in the long-term and foster profitable growth;
- attract, retain and motivate high calibre executives;
- stimulate teamwork in order to support sustainable growth in long term period;
- increase total remuneration package competitiveness.
