Employees expect their rewards to match their own view of their value to your business.
If your employees feel their rewards don’t match their contribution they will not be motivate.
Getting the right reward package for all employees is crucial. Keeping them focused on the achieving your business objectives is essential.
- The effectiveness of your current reward structure
- The correct match between your business objectives and reward
- Typical benefits packages for different levels of jobs
If you manage staff, at some time you will need HR Support.
In the competitive world in which we work, our staff are our competitive advantage.
Recruiting staff with the right skills and abilities, and above all else attitude, and then giving them the right training is the key to success for most organisations.
But nowadays, things are not straight forward. Employers have many more obligations placed on them by employment law.
And employees are much more aware of their rights and are willing to enforce them, through Employment Tribunals and the Courts if necessary.
Bonuses and Incentives
Bonuses and Incentives are used by over 70% of organisations (Source CIPD).
But not all bonus and incentive schemes achieve what they were intended to do. All too often, a bonus or incentive is introduced without consideration of the overall pay and benefits package of the employees involved. If basic pay is too low, or too high, compared to the market or bonus being paid, employees may not be driven to achieve the desired objective. The end result could be employee behaviour which is, at best, undesired and, at worst, could damage the organisation.
If you are thinking of introducing or refreshing a bonus scheme, you need sound guidance based on years of experience. You need advice on current pay levels but also on the best bonus or incentive to achieve your business objectives.
Incentives for directors require special advice, based not just on the performance criteria...