
Paying for what matters in the new world of work
The rapid transformation of the global workplace requires organizations to rethink how they compensate employees and create frameworks that enable them to attract and retain talent and optimize HR spend. They must simplify complex pay decisions and prioritize factors that include rewarding skills that help meet future objectives, compete effectively for coveted talent, recognize the growing global movement to establish gender pay equality and ensure that top performers are adequately rewarded for their contribution.
In today's challenging environment, how can you meet these disparate and imposing demands?
An impactful compensation strategy and design can place you in a position of strength and provide a clear vision of the future. But how do you get started? By taking an unvarnished look at your company's existing Total Rewards strategy and how it aligns to your organization's strategy and vision of the future, and then by designing a compensation program that delivers the right compensation to the right employee segments in the right way.Getting compensation right starts with the right strategy
Incisive compensation strategy employs a creative, yet disciplined, approach to pay management, aligned to your Total Rewards strategy and talent value proposition and enables you to attract, retain and engage talent and drive the right behaviors. Our approach and process sets the context using our metrics tools and analytics to:- Document your current plans and assess their effectiveness
- Carry out a market analysis with industry and peer group analysis
- Identify options and opportunities for change
- Model the impact of change
- Develop an effective change management and communication plan
The right compensation design for the right employee segments
With a strategy in place, together we can develop compensation plans that make sense for your organization and critical employee segments including executives and employees across four key elements.- Base pay
- Short-term incentives (STI)/bonus pay
- Long-term incentives (LTI)
- Recognition and other programs
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