Reward & Incentives

These can be two of the trickiest decisions a company is faced with.

Most employees feel their pay does not adequately reflect either what they are worth and/or what they contribute.  Employers are naturally conscious of cost and employee costs are often the biggest element.  However, pay the wrong amount and you culd quickly lose a key employee.  Then there is the vexed question of fairness and internal relativity.

Contrary to what most employers think, market data is often not the most important element.  Having a clear, logical and defensible pay policy is.  We have been setting pay policies and resolving problems in a wide range of different situations.  We can provide the independence in assessing and setting pay that often makes these emotional conversations acceptable.  And there is ofetn more than one solution - we think outside the box.

MD's instinctively think incentives are a good idea.  Equally, most who try and introduce a scheme, end up disappointed with the results.  As with many things in business, a well thought-out policy, clearly communicated, will get you more than half way to an effective scheme.  But the questions are not easy - reward or incentive; easy to understand or complex; team or individual; what are the best measures; what is the right timescale, and so on.  There is no right answer - but that is where we can help, by assisting companies think through these issues and reaching an answer that is best for them.