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?
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
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.
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
Create policy and procedures to support a flexible and cost effective program
Create standard reports that provide critical ongoing information to stakeholders
Benefits of Total Rewards/Performance
Ensure client’s rewards program is in compliance with Fair Labor Standards Act and California Wage and Hour laws
Maximize effectiveness of monetary and non-monetary rewards in helping organization achieve it goals
Receive assessment of clients current reward/performance technology infrastructure and guidance on cost effective options