It is nothing new to learn that companies need to be nimble and responsive to staying on top of a Reward Agenda. Our clients have lost count of the times that just when they feel they might be making inroads into a new initiative, project or change of strategy another curveball is thrown and they start to feel overwhelmed once again. All of this was a familiar picture in pre-COVID times so we can only begin to imagine what life feels like now!
The impact of COVID has meant many businesses are now working in ways they never thought they would have to with employees donning multiple hats to ensure work gets done. According to research carried out by Employee News workers spend up to four hours of their weekend catching up with their workloads with one in six doing two hours of work over Saturday and Sunday. This appears to be a continuing trend for the foreseeable future but is clearly not a sustainable one.
Having the right level of in-house capabilities or enough hours in the day to make a dent in your to do list is not always an option and not having reward resources and tool kits at your disposal when needed, means that it is not always possible to keep the momentum going. The idea that you can extend your reward support bubble with the capacity to draw on reward intelligence as and when rather than commit to large scale projects is a growing practice.
As a customer in extending your support bubble you want to be treated with the utmost level of confidentiality and due care. You want to feel the support you receive is not a simple off the shelf solution but something that reflects your DNA. You want to access an agile service that can provide advice and reassurance to get to the best outcome whilst managing and supporting competing priorities.
So, what is it, and how does it work?
Effectively it is a more agile model of working with professionals at various levels and within various fields that becomes that extra pair of hands or much needed expertise at a time when it is needed, enabling a level of service and access based on requirements and budget.
This could be in the form of ad hoc technical reward support, ongoing maintenance on existing reward systems, auditing effectiveness, supporting with iterative improvements, or tapping into a library of resources and tools.
The types of things you might wish to access include:
- Training on a one to one or wider team basis in how to approach and implement reward initiatives.
- Reward coaching seminars covering all aspects of the reward lifecycle.
- Technical reward insight & ongoing training sessions to empower HR or Reward team
- Remuneration Committee Coaching
- Ad hoc job matching and pay benchmarking
- Reviewing Gender or Ethnicity Pay data
- Ad hoc job evaluation of roles
- Light-touch reward audits
- Ongoing economic and competitor research
- Pay framework maintenance & minor adjustments
- Reward policies, approach to the Annual Pay Review
- Reviewing of your internal reward policies
- Reward policies, approach to the Annual Pay Review
- Regular consulting sessions
- Emergency consulting sessions (Exec pay, benchmarking, pay review, comms, etc.)
- Job matching ad hoc roles throughout the year as and when they are added to the business
- Ongoing management/modelling of the ad hoc pay
As experienced advisers in reward, we also provide coaching on Reward practice to support your understanding of reward and maximise the effectiveness of Remuneration committee members and/or business stakeholders. If you’d like to know more about our Reward on Demand service, please email me (emer.bucukoglu@innecto.com) or call the team on +44 (0)20 3457 0894. Alternatively, you can download our brochure here.
