- Reward Management
- Salary Surveys
- Reward Consulting
- Performance & Development
- Job Design & Job Grading
Is your organisation undergoing a transformation? Is your current salary policy no longer efficient, robust or crisis-proof? If so, your organisation might be needing a new one. Hudson Reward Consulting will set you on the right track with supported advice and co-creation.
Organisations that are drafting their reward policy or thoroughly revising it, do so most effectively when they integrate it into all of their other HR processes and systems. Good, strategic embedding is built on the concept of total reward and market competitiveness. Our Reward consultants support you on the basis of interactive workshops, modular according to requirements. We also work in co-creation and integrate your input and experience directly
There are many compensation systems on the market when it comes to fixed salary. The systems vary from a very simple pay-scale structure to a more complex arrangement. Can you make the wrong choice? There’s no such thing as a truly bad compensation system, but it is important however that you select the correct system to suit your strategy and business culture.
Finding the right balance between controlling fixed costs, market competitiveness and fairness is an art. During our workshop our consultants will explain the latest trends and best practices. We outline the advantages and disadvantages of the various systems and, together with you, we select the system that efficiently responds to the drivers of fixed salary.
Variable salaries help organisations to keep fixed costs under control and to take economic forecasts and financial performance into account. According to our salary survey more and more employees are benefiting from a form of variable salary and the sums paid out are increasing every year. In contrast, every survey also confirms that a variable salary or bonus is not a motivating factor, unless it is for specific target groups and depending on context. A variable salary can therefore also has a reverse effect.
When should you decide to reward specific targets and when are collective systems better? Should you incentivise the achievement of annual, quarterly or monthly targets? When is it opportune to motivate and reward long term focus? Our consultants design a variable compensation system that takes account of the various target groups within your organisation, to help enable you to achieve your organisational objectives.
In a total reward approach, benefits constitute a significant cornerstone, which you must manage carefully. Naturally, every organisation has limited financial resources, whereas this involves major investments: meal vouchers, company cars, healthcare and collective insurance etc.
The trend towards flexible compensation, in which employees have more choice within a specific budget, also has a major impact on benefits policy. Because the introduction of options has a huge influence on employee satisfaction and appreciation of the salary package, Hudson is very strongly committed to this.
And the non-financial forms of compensation are certainly not to be forgotten. How much should you invest in training and development? Is remote working structurally possible? What are the promotion opportunities within the company? And how many vacation days can an employee accrue? Your organisation can win or lose the war for talent on these factors alone.
The introduction or optimisation of a salary system has a potentially major impact on the overall wage bill. Extensive changes involve negotiations with the trade unions. It is important to calculate the wage bill impact within these scenarios. If the individual employee learns and understands the impact, this will also help to create support for the new salary policy.
Transparent communication therefore is an integral part of compensation strategy. Hudson is well-versed in the best practices in this field and works closely with internal and external communications specialists to convey what are often very technical explanations via the right communication mix. This is a crucial element of your employer branding and the employee experience.
Submit your HR challenge to us. Together we look at how we can help you.