Reward & Recognition Strategy
Reward & Recognition Strategy with TRS
We help organisations define their reward principles and goals and then translate those intentions into effective reward programmes.
Crafting the most effective Reward & Recognition Strategy
The objectives of an organisation – long, medium or short term – are essential to understand before truly effective reward strategies can be developed. Clarity of organisational purpose is an essential foundation in the creation of any reward strategy, underpinned by well-considered and durable guiding principles.
Identifying appropriate reward and recognition programmes which enable achievement of business goals is a strategic endeavour, requiring deliberation, understanding of the culture and demographics of the organisation and clear thinking. Achieving a durable reward strategy, capable of adapting to changing circumstances without compromising key principles adds value to the organisation and reinforces employees’ sense of purpose and overall engagement.
For all organisations – whether private, public or third sector enterprises, a reward strategy inevitably has to evolve with changing circumstances or respond rapidly to corporate actions, including mergers and acquisitions. We bring enormous experience to these challenges reaching through international organisations, unionised environments, family businesses, partnerships and challenging public sector change settings.
Pursuing a Reward & Recognition Strategy
Total Reward Solutions’ expert consultants will work in partnership with you to implement a reward strategy which really works – deploying reward programmes people understand and value and incentivising behaviours which underpin your organisation’s success.
To this end we ask some fundamental questions about how a reward strategy might operate in your organisation:
• How does each element of the reward strategy function and perform?
• What underlying messages are carried by each reward programme?
• Where are there potential conflicts between messages?
• Which employees value which reward programmes?
• Why are some reward programmes perceived as ineffectual or sub-optimal?
• When is it necessary to express common principles in different practices?
An open and honest critique of the answers to these straightforward questions will assist the design of a truly effective reward and recognition strategy that helps achieve your organisation’s objectives.