Compensation and benefits has been saved
Compensation and benefits
Controlling the productivity of your workforce
Compensation & benefits offerings often account for the highest percentage of total costs in organisations. It is therefore critical that these are linked to both business objectives and growth, as well as to the actual performance of your workforce. The design of these programs should reflect a rigorous understanding of the various levels of employee responsibility, KPIs, contribution, and motivation. Maximizing productivity, while investing in high-performers is key to continuously growing your business.
Future Industry Challenges for Compensation & Benefits
- Aligning business drivers and employee expectations to drive productivity and performance
- The need to shape the pay and benefits in different ways as a response to longer life spans and younger demographics
- Segmentation of your workforce and differentiation in the offerings to retain the top performers
- Higher transparency on income growth divergence might risk employee engagement to plummet.
- Higher complexity of pay structures due the customization of compensation and benefits
- Accurately valuing the various incentives using HR analytics
- Striving to maintain a high retention rate, by balancing employee needs and business needs.
- Designing policies that cater to flexible working conditions (telecommuting, career interruptions, family demands)
How can we help?
Our consultants are passionate about their field of expertise, and have numerous years of experience in this domain. During a short or long-term assignment, they will be able to assist you in the following:
- Analyzing the different components of your remuneration schemes.
- Coordinating yearly benchmark studies and preparing reports about external competitiveness
- Developing and improving the communication channels on C&B topics during hiring processes and the yearly performance appraisal
- Serving as a SPOC for line managers and supervisors on questions around the various HR and compensation policies.