May 10, 2011

Developing and Introducing Reward Management Processes - The Use of Consultants


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.


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