Choices in the sphere of compensation are the core of the human resources policy. This sphere interacts with all other choices and connects them with the corporate strategy, which is the source of the most direct and clear messages to the whole staff (beyond the merely economic aspect).
“Compensating” people is not just a matter of money, even though money is a fundamental lever and an aspect people are extremely attentive and sensitive to.
This presupposition, confirmed by a number of surveys conducted over the years proving that there are manifold “levers” to attract, retain and motivate people, is typically represented by the Total Reward approach, which is hinged on:
- training and development
- work environment.
In this scenario, performance comes to play a pivotal role in human resource management and in decision-making, to the point that:
- with reference to rewards, it provides a valuable element to differentiate and cluster the corporate population, consistently based on the actual efforts made to achieve the objectives assigned
- in broader terms, it is an extraordinary lever to engage people and help them grow.
How Do We Help Organizations?
Our approach, based on Total Reward, suggests linking all human resource management levers to cover the whole of a person’s employment lifecycle within the company:
- We offer clients solutions and tools to design and implement a professional profile management system. This system provides managers with a shared reference scenario which clearly identifies the relationships between role, performance and compensation and points out opportunities for professional and compensation development to people.
- We take clients through all the phases necessary to engineer a Total Reward system, from analysis to the actual design and implementation of an action mix that is consistent with the corporate population target.
- We update our know-how on the subject with periodical surveys geared to gauging market values, the popularity of welfare systems, people’s satisfaction with what companies offer, as well as the main needs and expectations expressed by the people.
- We set up partnerships with companies to design and implement performance measurement and incentive systems.
- We support our clients in analysing and defining compensation packages for top management and expatriates.
Reliable compensation and benefits survey data is now more important than ever.
Performance management is an essential factor in driving your corporate decision-making for people and about people.