There are five main areas of pay and reward management:
- Pay structures, which combine the results of pay surveys, national or local agreements and job evaluation (where applied) and define fair and competitive levels of pay
- Employee benefits, which satisfy employees’ needs for personal security and provide remuneration in forms other than pay (and which may be tax efficient)
- Non-financial rewards, which satisfy employees’ needs for challenge, responsibility, variety, recognition and career opportunities
- Total remuneration, which treats all aspects of the pay and benefits package offered to employees as a whole
- Measurement and management of performance in relation to the achievement of objectives, standards of performance or skills and competencies
In developing pay and reward systems, David examines 3 areas with his clients:
- What messages do we wish to give?
- What do we want to pay for?
- What structure do we want?
E-mail email@example.com to discuss how David can help you with his substantial knowledge and experience.