Remuneration policy is a set of intertwined procedures, rules and standards used to distribute company’s finances accordingly, to suit its best interests.
Remuneration policy supports the organization’s strategy in the realisation of planed business goals, simultaneously taking into account the needs of its employees.
Remuneration policy motivates employees to continuously increase their work efficiency. It drives the changes, shapes the workforce mentality, induces commitment, supports leaders and teams in projects for productivity increase.
- Existing remuneration rules audit
- HR strategy vs remuneration strategy
- Organizational model analysis
- Job description and analysis – what do we expect?
- Job evaluation – job tariff – what do we pay for?
- Remuneration practices analysis – how do we pay?
- Job tariff creation – how much should we pay?
- Identifying candidates and their shares – premium availability matrix
- Rules for premium fund creation
- Measures and weights – organizational goals, teams and employees analysis
- Initiation and payment rules
- Premium system management rules
- Analysis of existing additional benefits (with attention to their costs and benefits) as well as their comparison with the market practices
- Opinion survey – what do employees value the most
- Analysis of various variants of additional benefits system
- Integration of additional benefits with other elements of the remuneration system
- Preparing solutions for communicating the remuneration system (presentations, leaflets, calculators, etc.)
- Support in the incorporation of the remuneration system into the employee evaluation processes and MBO
- Support for managers in negotiations/communication of the new remuneration system to various interested parties (public institutions, management boards, labour unions, management, media, etc.)