Do your employees value their reward package? How effective is your reward spend?
These are just some of the questions that our Reward Audits services include as part of the full diagnostic appraisal (review) of your reward practices and reward packages. Simply put, this service can save you time and money by checking if you’re getting value from your current reward spend, need to resolve reward issues or need to reduce costs.
How does the reward audit service work?
The reward audit typically consists of three phases to give you choice and to tailor your requirements.
This phase provides an overview of your reward policies, benefit providers and costs to identify value for money opportunities and scope to improve your offering within budget.
Our full diagnostic appraisal provides a complete review of your policies; total & individual spend and evaluates red-amber-green priorities.
The implementation phase goal is to achieve better value and an improved reward offering.
What are the benefits to you?
- Full written report that provides a comprehensive evaluation of your pay & benefits offering.
- Independent assessment of your reward package which highlights red-amber-green priorities.
- Analysis of costs vs. benefits to determine if you are getting value for money.
- Evaluation of the effectiveness of your reward policies and practices.
Our bespoke service can provide you with a clear set of priorities and timescales as well as practical, strategic advice aligned to your wider organisational goals. We can also work with you to produce a tailored ‘road map’ to give you the information and points of reference you need to ensure your reward practices are aligned to your wider organisational goals.