Could you benefit from having a dedicated Virtual Reward Manager?
Managing Reward effective is critical for organisations to perform and grow but the cost of employing a Manager may not be justifiable given the size of the business and the number and frequency of issues which arise. There is potentially huge value in bringing the right expertise to the reward agenda.
What is Virtual Reward Manager?
A Virtual Reward Manager can be tapped into at any time to help solve reward issues, keep legislators off your back and maximise the potential and spend on your people. You choose the package and services from a menu of options to suit your needs and then you can use the Virtual Reward Manager as frequently or as sparingly as you want. Reward First® People Consulting offers this service in partnership with Reward Consulting Partners LLP
What does it offer?
The following menu gives you a flavour for the range of services offered:
- Review current practice/reward strategy;
- Audit of pay and bonus policies and practices, and job grading
- Benchmark against your industry/market;
- Review of benefit costs, efficiencies, and fit with the business culture and values.
- Pay review management, guidance benchmarking communications, collation and analysis;
- Pay linked to performance management schemes, design implementation and maintenance;
- Annual review of allowances e.g. shift payments, unsocial working, location allowances, call out etc.
- Keep up with the impact of employment legislation e.g. retirement age changes, discrimination, pay audits, taxation etc, and their impact on pay practices and policies;
- Manage bonus programmes, including guidance administration communication and analysis.