Explore the key business challenges I help organisations solve.
All businesses have some reward practices in place. Maybe it’s time for you to have a cohesive approach that perfectly aligns to your culture and commercial objectives and can scale with you as you grow.
M&A can quickly bolster your profit margins. The challenge comes in knowing which aspects of reward to harmonise sooner, and understanding the financial and engagement impacts of not integrating effectively and what they cost in the longer term.
We all understand that having a strong purpose is the key to engagement and engagement is the key to success. But how do you turn your existing reward offering into a fully aligned strategy across your entire footprint? Underpinning every aspect of your reward offering with your primary or secondary purpose allows your colleagues to be engaged, motivated and proud. These, in turn, link to talent attraction and retention - key business challenges for many.
Reward practices tend to grow organically as businesses move from small to medium sized. This can result in admin heavy processes, a below market offering, inconsistent packages and minimal global equity. Compensation plans should be motivating and flexible enough to shift with your changing business landscape.
The world of reward has never been as volatile as it is today. Many companies are finding that their compensation and benefits approach that was right two years ago is no longer fit for purpose due to an org redesign, a new operating model, increased automation or a new commercial strategy. Reward needs to flex to meet the needs of the business with the challenges it’s facing now.
Incentive schemes need to be just that; incentivising! Often a proxy for performance management, the qualitative aspects of commission plan design are just as important in driving the right behaviours as the quantitative ones. Consistency, fairness and governance are also key to engaging your business development folk in doing what they do best. Be it a customer service desk needing a success bonus, commission to support a ‘seller / doer’ model or a pure revenue share for direct sales colleagues; getting the right plan is critical to success.