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How are you doing with Remuneration & Reward?

 

With the effects of the worldwide recession still lingering on; now is a great time to take stock of our remuneration and reward systems and related employment practices.

Are they robust and effective; do they meet employees’ needs; will they stand up under searching staff and union scrutiny; and do they make enough of a positive impact on skill retention and staff engagement?

Why not take a few minutes to complete the self-assessment below?

Responses to the left-hand side are obviously problematic; while those to the right-hand side are great – as long as your people would agree with your rating!!

 

REMUNERATION AND REWARD PRACTICES

No or Never

Partially or Sometimes

Yes or Always

1

We have a written remuneration and reward policy and we adhere to it

 

 

 

2

We communicate our remuneration and reward policy and answer the “WIIFM” questions that employees raise about our pay and benefits practices

 

 

 

3

We have assessed employee perceptions of all remuneration and reward systems in the last 2 years

 

 

 

4

We have conducted a comprehensive market pay analysis based on survey data in the last 12 months

 

 

 

5

We have addressed the issues that came out of the market pay analysis (internal equity, market competitiveness, salary progression, etc)

 

 

 

6

We have assessed the competitiveness of our employment benefits other than pay in the last 2 or 3 years

 

 

 

7

Our staff at all levels are clear about their job roles and performance expectations and have easy access to accurate, current, written job profiles

 

 

 

8

We use a formal system of job evaluation and our staff are aware of their job grades as well as the process for grading appeals and/or re-evaluation

 

 

 

9

We have no job grading appeal outstanding for more than 2 months

 

 

 

10

We have a variable / incentive pay or bonus scheme that is related to organisational and individual performance

 

 

 

11

Our variable / incentive pay scheme(s) have clear goals (agreed in advance) and “line of sight” for all participants

 

 

 

12

We have a successful non-monetary recognition scheme through which we celebrate individual or team successes and “going the extra mile”

 

 

 

13

We pay particular attention to non-monetary benefits of working here (decent work, great supervision / leadership, collaborative organisational culture, etc)

 

 

 

 

 

Mike Honnet Consulting (Pty) Limited offers broad human resources consulting services, with particular emphasis on the following:

  • HR and Performance and Reward strategy
  • Role clarification and job description / profiling
  • Job evaluation and grading
  • Remuneration structuring and pay scale design
  • Package structuring
  • Remuneration and employment practice surveys
  • Employee perceptions surveys
  • Performance management and improvement system design and implementation
  • Performance reward and incentive design
  • Employee productivity system design
  • Employee induction / “on-boarding”

 

If I can assist you with any aspect of the self-assessment that concerned you, or with any other aspect of HR / human capital management in your organisation, please do not hesitate to follow the Contact link on my web site and get in touch with me.

 

 

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5 June 2006
Ċ
Brett Farley,
7 Jan 2010, 15:36
Ċ
Brett Farley,
7 Jan 2010, 15:40
ĉ
Brett Farley,
7 Jan 2010, 15:41
Ċ
Brett Farley,
7 Jan 2010, 15:40
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