Reward strategy
Translate your business and people objectives into an impactful reward strategy with implementation priorities
A reward strategy translates business and people objectives, culture and values, into how you will reward employees. It answers questions such as the intended pay stance vs the market, internal consistency vs external market rates, local vs global frameworks, and individual vs team reward. A clearly established reward strategy provides direction for future reward activities and key communication messages.
We work with you to find the right reward strategy for your business. We provide the external input and challenge, and the facilitation required with the senior team. This ensures that the implications of the decisions taken are fully explored, and there is agreement and buy-in to the strategy.
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FAQS
A reward strategy sets out how an organisation’s approach to pay, bonus and wider reward such including 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, has been shown to reduce gender pay gaps, and is a legal requirement of the upcoming EU Transparency Directive.
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.”