Reward
Different types of reward systems
Reward is – very simply – one of the reasons why we work! Nevertheless, reward is not the only reason we go to work.
Different types of reward systems can have significant effect, and it is very important that an organisation is cautious when making changes to their reward systems.
Important questions to ask oneself:
- Is there need for a variable part of the salary?
- Does a majority of employees need active external motivation to do a good job.
- Should any reward systems be individual or collective?
- What should those be based on in order to motivate, support the goals of the organisation, and not create unwanted effects as sub-optimisation etc.?
How can we help you?
We have a unique combination of technical expertise, market intelligence and analytical skills to help our clients within a wide range of emerging reward issues including:
- Advise boards and management teams on appropriate structure and size of senior executive rewards – with appropriate reference to the marketplace, internal company goals as well as climate of the organisation.
- Assist with technical challenges (tax/regulatory) and administrative implementation challenges for global incentive plans and reward structures.
- Perform cost/benefit analysis of the elements in the reward structure to develop a more effective reward program that reflects employee wishes and needs.
- Develop reward programs as part of a workforce transformation or corporate transaction.
- Adapt reward and incentive programs to regulatory changes.
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