Efficient reward tools can help you develop a successful, strategically grounded and competitive reward management policy that takes various forms of remuneration into accounts.
A strong salary policy is based on a number of important pillars: it must be strategically grounded, competitive and ensure internal fairness and equity. It also needs to take all financial and non‑financial forms of remuneration into account. By keeping these pillars in mind, you will be able to develop a reward policy that is distinctive within the market and can be communicated clearly to your employees.
In practice, relevant and efficient tools are essential for effective reward management. Hudson has developed reward tools to support you in the areas of remuneration strategy, compensation, job descriptions, job evaluation and competency management.
When formulating a remuneration strategy, it is important to fully understand:
To enable you to support your board in determining a remuneration strategy, Hudson has developed a workshop in close consultation with Vlerick Business School. The starting point for this online workshop is to evaluate your current salary policy and reward system. During the workshop, the various opinions and visions of your board members on future salary policy are collected and visualised. In follow-up sessions, we align these opinions in order to come to the correct strategic decisions together. Under the guidance of an experienced director, we finally arrive at a fully-formed remuneration strategy.
You can then proceed to develop and manage company-specific job descriptions and competency profiles. As an employer, you will want to design these thoroughly and have several options for doing so: you can design descriptions completely from scratch, based on Hudson’s reference descriptions or on existing job descriptions within your own company.
Our 5+1 Compas Tool comprises various modules, which allow you to:
Within the framework of agile ways of working, self-managing teams and other flexible working methods, organisations are increasingly evolving towards describing a limited set of generic jobs or roles, possibly split into various levels. These job descriptions can then be used in your various HR processes, such as recruitment & selection, training & development, performance & development, succession management, job evaluation and classification, etc.
In order to integrate these descriptions smoothly into your processes, you can use the 5+1 Compas Tool’s JobDesign module to design a template that is both specific to your organisation and in line with your chosen strategy. To do so, you can consult a job catalogue of 200 jobs and involve various stakeholders in creating and validating the descriptions.
Definitions of the responsibilities inherent to specific jobs and roles can be supplemented with information on the behaviour, expertise and skills required for those roles. Our 5+1 Competency model is central to this. You can easily adapt this model to make it more specific to your own organisation. You can also use our competency module to select the desired competencies required to carry out a job or role correctly. Again, you can make use of the job catalogue of pre‑defined competencies and behavioural anchors.
The final element of your reward management is clear job weightings and classifications. You can develop a fair and reasonable remuneration policy based on groups of jobs with equivalent responsibilities or added value. Based on these classifications, you can conduct an equal remuneration policy for each category. You can determine the added value of each job via an analytical evaluation method.
Job weighting is a very specific subject, which requires thorough training. Hudson has set up a certification programme in which HR professionals can participate; those who successfully become certified can weight jobs autonomously and create classifications using the weighting module in 5+1Compas.
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