Developing and Introducing Reward Management Processes - The Use of Consultants

HOW CAN THEY HELP?

In reward management, the areas in which management consultants can help are:

• advising on reward strategy, eg following a merger or change in corporate direction;
• helping build 'reward literacy' at senior management level at times of strategic change;
• developing improved links between reward and performance management and career development;
• developing/implementing improved approaches to job evaluation;
• designing and reviewing pay structures to fit business needs;
• conducting salary surveys and employee opinion surveys;
• advising on salary levels for individual jobs; for example, non-executive directors seeking information on the right remuneration for a managing director or newly appointed board members;
• designing incentive/bonus schemes;
• developing gainsharing or profit-sharing plans, including share ownership schemes;
• advising on pension schemes;
• developing total reward packages covering the whole range of benefits and non-cash rewards;
• advising on the personal tax implications of remuneration policies.