Organisational Talent Management

 

Strategic Reward Management

 

How do you make sure that your Reward policy supports your strategy and organizational goals?

Does your organization take the Total Reward Approach?

Nowadays, employees do not only expect competitive salary…new important drivers such as variable pay and benefits as well as non-financial rewards are taking more and more place. Next to pay and benefits, different aspects such as personal development and work-life balance need also to be looked at. The complexity lies also in the fact that there is never been as much people generations currently working in the organizations as today, with different expectations when it comes to Reward.

Therefore, your Reward Package should be more than just pay and benefits. In order to be competitive, companies should adopt a Total Reward Approach that is embedded in their corporate and HR strategy for their employees.

Hudson Reward Management specialists design individual salary positionings for employees and top executives and advice you on the conception of your compensation & benefits policy.

The Hudson Reward Model starts from the principle that every adequate reward policy operates with four indispensable dimensions:

  • Strategy
  • Structures
  • Systems
  • Implementation

 

 

Logically there is a chronology while going through these dimensions, even though interference between the different dimensions is possible. The presence of all four dimensions is crucial in order to come to an efficient and successful reward policy that leads to the desired results.

Therefore, Hudson recommends leading a Strategic Reward Workshop which helps to create a reward vision. Accompanying the Compensation & Benefits model is more than a technical-specialist problem. The performance and reward strategy and its further translation into structures and systems needs to be based on the organisation’s present position and needs to be attuned towards the organisation’s desired direction.

 

 

A good performance and reward strategy is built up in such a way that it becomes steering in the achievement of the organisation’s objectives, taking into account both the culture and the vision of the organisation, as well as internal and external factors / constraints that play a role in the coordinating HR policy.

Over the past few years Hudson has developed a strategic exercise for the development of reward strategies and for the optimisation of existing strategies.

By means of a workshop four central questions will be answered:

  1. What does YOUR COMPANY want to reward its employees for?
  2. How much does YOUR COMPANY want to reward its employees? (positioning and reference market)
  3. How does YOUR COMPANY want to reward its employees? (reward instruments)
  4. Who decides on the reward for the employees? What are the necessary processes, roles and responsibilities?

Major deliverable of the Strategic Reward Workshop:

A description of the reward strategy which describes in detail the choices made during the Workshop by YOUR COMPANY about salary components, positioning, progression system, procedures, etc. in line with your global & people strategy. This becomes then the basis to adopt the right job design approach, grading structure and performance & competency management systems & culture.

Do you want to know more? Please Contact us.

 

About Us

Hudson has more than 35 years of experience and is a leading Benelux HR consultancy provider. With a flair for entrepreneurship and innovation, we work tirelessly every day to succeed in our most important endeavour, namely to provide support to organisations so they can grow, by developing their human capital. Every day, the Hudson HR experts use all their specialist knowledge regarding the recruitment, development, coaching or compensation of employees as well as interim management and staffing services to support our customers so they can achieve their ambitions. We are the preferred HR partner, both for the private and public sector, because of our strong values and the commitment of all our employees assisting start-ups, SMEs and multinationals. 

Contact us

Are you looking for an HR partner with a broad service offering tailored to the needs of its local customers? We invite you to contact our experienced consultants to discuss your business needs

15, avenue du Bois
Limpertsberg
L-1251 Luxembourg
+352 26 97 92 1
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