Get it right and you can inspire and motivate your employees. Get it wrong and you’re facing low productivity, recruitment and retention problems. And probably people being rewarded for the wrong behaviours. We’re here to make sure you get it right – every time.
Our start point is always finding out what it is you want to achieve with your pay framework. We explain different types of pay frameworks and get your key individuals involved so that we can design and develop a pay framework to meets your business goals and needs. Employee communications are an important part of the process and we help you with these too so that employees both understand any changes and engage with them.
Despite the pay bill being such a significant cost in many organisations, most spend little or no time monitoring or even thinking about it. Getting your pay levels wrong can affect not only your ongoing business costs but importantly the commitment and engagement of your staff. In the current marketplace, few businesses are finding recruitment or retention easy – and pay and benefits are often cited as a reason for leaving by departing staff.
The reality is that there is a lot you can do to ensure your pay structure both suits your organisational needs and strategic aims and retains your employees. We can help you create an effective, fair and transparent reward scheme for your business.
What different will it make?
The simple answer is, a lot of difference! Every organisation is looking for different things but these are the key things our work can achieve for you;
Knowing what your competitors are doing with their pay and benefits can help you improve your competitiveness. Salary and terms benchmarking is one of the cheapest and easiest ways to get this information.
We can combine data from our Pay database (RRMPay©) with information from other sources such as sector publications and professional bodies, to give you a rounded view of the salary range applicable to your role(s). Our data considers the nature of the job, the sector you operate in and the size and location of your organisation.
Analytical, factor-based job evaluation is widely considered the fairest way to develop and support your pay structures. The good news is that it can also be used to support all your HR initiatives: recruitment, training and development, restructuring/organisation development, performance management, and career planning.
We use a factor-based scheme called RRMEval©. We believe it’s one of the best schemes to develop a fair and unbiased approach to job evaluation. Our Pay expert is a trained evaluator with experience of every major job evaluation scheme. Individual role evaluations or project-based work can be undertaken – and your in-house teams can be trained to manage evaluation too.