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systems, analytics, performance

Total Rewards/Performance

With all your HR systems in place, how do you devise and manage a Total Rewards and Performance Program that effectively attracts, motivates, retains employees and is aligned with the organization's goals?

Technology
Strategic Phase
  • Review current total rewards strategy and programs in relation to business strategy
  • Determine cost effectiveness of rewards strategy and programs in meeting company goals
  • Assist in designing new or modifying current rewards strategy and performance programs
  • Measure historical costs of programs in relation to overall business variables
Design Phase
  • Review competitiveness of current total reward programs, conduct market surveys
  • Review current job mix, career paths, job descriptions, etc., and make recommendations to improve link between job design and overall business functions
  • Review details of benefits plans design, costs, processes, etc. and provide context of historical costs per employee or any critical perspective
  • Create and measure effectiveness of variable pay, sales compensation, executive pay, bonuses, incentives, merit increases, spot bonuses, etc., in relation to business results.
  • Measure all cost of benefit programs including burden rates, historical trends, cost per employee, benchmark by industry and competition, percentage of company revenue, etc.
  • Review and/or measure employees’ overall work experience satisfaction (job content, growth opportunities, recognition, balance, etc.) as part of total rewards
  • Conduct job and pay studies of individual jobs, job families, organizational units, department for equity, improved job design, career paths, etc.
Technology Phase
  • Review current use of technology in total rewards program administration and propose cost effective changes
  • Create online total rewards manuals for supervisors with policies, procedures, guides, etc.
  • Determine ROI of new technology and develop a business case for development
  • Implement the maximum online compensation distribution system with tight security to provide managers with easy access to view and make authorized compensation changes
Administration Phase
  • Create policy and procedures to support a flexible and cost effective program
  • Create standard reports that provide critical ongoing information to stakeholders