We help you design a compensation system that delivers the intended results of your strategy.
The compensation system in your organisation offers the energy that moves your organization in a certain direction. When you design it properly, it moves your business in the right direction.
Employees are not attracted only to high salaries. Evidence shows that employees leave some firms even if they pay well, and work at other firms where they feel they are appreciated and their contributions recognised.
Compensating your employees well for their hard work is about more than simply paying them more. While people appreciate good salary, they often seek more than simply financial reward from their employers. They seek recognition, their voices be heard, flexible working conditions and understanding for their circumstances and much more.
A good compensation system satisfies people’s financial, psychological, and social needs. Our psychologists and management experts will devise a compensation system that will bring the best out of people in your organization.
We will help you with the following elements:
- Set the right KPIs for each member in your organization.
- Develop a plan to monitor those KPIs.
- Develop a remedy plan to bring performance back on track in case of deviations (deviations will occur).
- Develop the right set of benefits to offer to each employee, to maximize their level of motivation (and engagement).
- Develop a set of incentives at the group level, to improve team cohesion, and ensure accountability for the overall results.
Please feel free to contact us to discuss your needs in detail.