Reward Consulting – State of the world
In the face of Covid-19, we can offer practical HR Consultancy support for you, your people and your organisation.
Where day to day HR Operations might be changing, it is an opportunity to step back and look at your reward infrastructure and programmes and consider:
– How effective are they?
– Are they aligned to and communicating your organisations’ values and culture etc, i.e. might it be a good time to for a reward strategy review?
The million dollar questions that you might be asking at this time:
1. How can we make our reward programmes more effective
and aligned to the organisation’s goals, values, culture?
For example we want to introduce a regular flexible
working policy into our offering.
2. Affordability – we can no longer afford our incremental
pay structures, what can we do instead?
Do we still have to make pay awards in 2020?
3. What do we do about our incentive plans if 2020
targets are not met, e.g. should be just reset financial
targets and change objectives in line with changing
priorities and goals?
What if bonus payments are due to be made in the next
couple of months for the financial year ending 31st March
2020, but we don’t know if we will be able to afford to
make the payments?
How we can help you answer these questions:
– We can work with you to undertake a review/audit of current reward practices, and develop a set of principles for each area of reward along with a roadmap of activities that will be required to put the principles into practice once things are back to normal.
– We can review your current pay structures and approach to pay setting and progression, and provide some alternative approaches for you to consider.
– We will review your current bonus plan design and rules and work with you to develop options to resolve any potential issues arising in the current climate and to determine what would be most appropriate for your business’ current situation.
Please get in touch with us to find out how we can help you further during these unprecedented times.
Bonus Scheme and Plan Design
Janice Edwards, Senior Consultant
Tel: 07921 241238
Sarah Jefferys, Senior Consultant
Tel: 07767 164795
Jenny Packer, Senior Consultant
Tel: 07809 554983
N.B. The Gallagher Better Works COVID-19 Insights Report is packed with insights and practical tips from Gallagher’s Organisational Wellbeing experts. We provide the lowdown on what you need to do now to help you face your future with confidence.
Click here to download the report today