pay strategy & design
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pay strategy & design |
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We believe that
pay is most effective when it forms part of a coherent overall plan.
Too often, components of the pay package are designed and assembled ad-hoc. This creates a negative image of complexity, confusion and mystery. This is most evident in executive pay, where pay plans are frequently both over-engineered and sharply at variance with arrangements elsewhere in the organisation. If people do not understand their own pay arrangements it is likely that some of the money is wasted. If pay arrangements need to be hidden, their impact is likely to be divisive. If pay plans are inconsistent across the organisation they are likely to be perceived as unfair. We believe that open, fair, consistent and explainable pay arrangements are more likely to attract, retain and motivate staff. To meet these criteria, we establish a total compensation framework for our clients. We work with them to migrate current pay arrangements to a destination compensation model that fits the chosen framework. We prepare communications materials to explain the way pay works. We test employee reactions through e-based questionnaires and make adjustments based on our findings. We are interested in long term client relationships where we can improve the organisational effectiveness of pay. |
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