Tailored reward strategies ensure that organisations are seen as attractive and competitive employers in the markets in which they operate. The benefits of implementing a tailored Reward Strategy include:
- Consistency in decision-making regarding reward, thereby ensuring that adequate attention is provided with regards to both internal and external equity;
- A record of the guidelines that inform all reward decisions &
- Classification of Critical skills, Scarce Skills and Core Skills (and the specific treatment thereof).
Organisations can differentiate themselves by customizing their Reward Strategies depending on the market in which they operate in order to attract and retain valuable employees within their organisation.
We have designed and developed a number of reward strategies for clients in a range of industries.