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Reward Consulting

Our reward consulting service develops pay and performance management programmes that are aligned with, and reinforce, your business strategy. We work as an extension of your HR team. Our reward expertise can enhance the impact reward plays as a key part of what you offer your people. Examples of the work we do include:

developing a reward strategy;
creating salary scales;
preparing a pay policy paper for your remuneration committee;
designing a bonus scheme for your sales force.

Your company is unique. You need reward solutions that meet your specific needs rather than a one size fits all approach. By understanding your needs we can help make sure that your reward schemes give you a competitive advantage.

The starting point has to be your business strategy. This is what:

shapes your reward strategy;
provides alignment for your pay and benefits approach;
determines what your pay structure looks like;
suggests how you should value different kinds of jobs;
creates the right links between performance and pay;
leads you to the forms of bonuses and incentives you use.

How do we work?

PAYdata work as your extended HR team. We provide the type of services you need and tailor them to the resources you have in-house. This ensures you get as much or as little help as you need and deliver the best value for your business.

What consulting services do we offer?

Any consulting work we do starts off with diagnostics. This is about getting to grips with your business, the issues you are dealing with, your priorities and objectives. We aim to find out where your existing reward practices are meeting your needs and where they aren’t. This can range from structured interviews with key stakeholders, focus groups with supervisors or wide surveys of employees.

Examples of reward consulting that we have undertaken include:

Developing a Reward Strategy

This is the key step in the design of a reward system. You have to decide what the reward strategy is and how reward should fit with other HR systems. This gives a framework for the reward system and must be closely linked to the business strategy.

Introducing a Grading Structure

There are a number of ways in which a grading structure could be developed according to your business needs, including a Single Structure, Career Families or Job Families. Our approach is always to make sure our solutions work for you. In the case of job evaluation we can offer our own scheme suitably modified to meet your needs. Or we can shape a bespoke job evaluation scheme that meets your specific needs. Either way we know you’ll want something that is robust and comprehensive whilst still being simple and easy to maintain.

Determining Fixed Pay – Base Salary

The key things to consider with base salary are where you want to sit in your chosen market, the number and shape of the salary scales you have, and how you are going to source and use the market data you need. Our PAYmodelling service is designed to meet these needs.

Determining Variable Pay - Bonuses and Incentives

Variable pay can take the form of bonus schemes, commission arrangements or long-term incentives. We have a great deal of experience of developing variable pay arrangements that drive behaviours to meet your business objectives.