Reward strategy
Translate your business and people objectives into an impactful reward strategy with implementation priorities
A clear reward strategy helps employees understand and trust their reward package, whilst ensuring the organisation’s investment in pay and benefits delivers real value. We believe every reward strategy should be tailored to the organisation’s culture, business goals and employee needs.
A reward strategy can cover areas such as how performance is recognised and rewarded, your market positioning on pay, the principles that drive pay progression, where reward decisions sit within the organisation, and the appropriate level of transparency. It should also define what makes your employee offering distinctive in a competitive talent market.
As a trusted reward consultancy, we are known for developing practical reward strategies that create genuine impact. Every project begins with a thorough review of your business objectives, employee perceptions, and the effectiveness of your current pay and reward arrangements.
We then use a structured and collaborative process involving stakeholder interviews, analysis and facilitated executive team discussions to develop a bespoke strategy. Clients value our ability to provide informed external challenge, present clear and well-considered options, and help senior leaders work through complex decisions to reach an agreed direction. The output is a reward strategy that resonates with employees and stands up to Board/Remuneration Committee scrutiny.
Importantly, we focus on making the strategy deliverable. Every engagement includes a practical implementation roadmap, which may include recommendations such as bespoke career levels, reliable pay benchmarking and transparent pay structures, bonus and incentive design, governance and communications.
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FAQS
A reward strategy sets out how an organisation’s approach to pay, bonus and wider reward such as wellbeing and recognition, aligns with business goals.
It often includes a pay stance (e.g. median), talent market for benchmarking data, what ‘fair pay’ means, and how the package will differentiate that organisation.
Pay transparency improves employee trust and engagement, and has been shown to reduce gender pay gaps. It is a requirement of the EU Transparency Directive, with Ireland and other countries changing legislation.
Pay transparency requires an agreed reward strategy, clear internal levels, robust salary benchmarking, transparent pay structures and conversations around pay and reward.
Feedback
We are particularly proud of
our client feedback
our client feedback
“Developing a pay strategy for our expansion into Ireland required external expertise. Given my previous experience, Verditer was the obvious choice. The comprehensive presentation was well received. It gave us what we asked for and as ever was extremely well put together and professional.”
Margaret Mitchell, Head of HR
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“We used Verditer to introduce a new reward strategy, including a bonus scheme and pay benchmarking. The team were insightful, commercial and really ‘got us’, creating a bespoke strategy that met our specific requirements and excellently guided our implementation. We would highly recommend.”