logo.gif (3095 bytes)header.gif (3707 bytes)

Remuneration

EMD Workforce Development specialises in Performance Based Remuneration and Benchmarking of Senior Executive salary packages. Our primary focus is to link organisational strategy with remuneration to provide alignment between direction and reward.

This alignment process incorporates the linking of organisational scorecards, KPIs and other forms of performance measures with variable pay for senior as well as front line staff. Our consulting process ensures that the outcomes for which the senior executive and staff are rewarded aligns with the objectives and performance measures of front line staff thereby creating organisational alignment.

Remuneration is a way of translating organisational strategy in to direct outcomes for staff.

Remuneration needs to focus on the commercial/business outcomes for an organisation. When the outcomes for individuals/teams/departments are linked to the organisational outcomes we achieve clear line of sight between what an individual or a team does on a day to day basis and the returns to the business.

remuneration.jpg (5574 bytes)

The other cornerstone of EMD's strategy is extensive consultation to ascertain what would motivate various sub sections of staff. An option which we strongly suggest is a survey of all staff to ascertain their feedback on existing remuneration strategy as well as to seek views on remuneration options. Our research and experience suggests that a one size fits all strategy is rarely appropriate. Strategies should be tailored to the needs of employees and must match the market place, the life cycle needs of staff and the needs of the business.

The strategy needs to provide a market advantage, differentiate our client from competitors, and it must benefit employees at the same time.

Framework – A systems approach to remuneration and rewards.


The Process

Phase One - Development of staff's remuneration philosophy and principals.

bblue.gif (807 bytes) Assessment of the value of the total package and in particular the performance pay components (if any).

The outcomes of this phase will be used to judge the effectiveness of the proposed variable pay strategy.
   
Phase Two - Data analysis - Benchmarking with relevant organisations.

bblue.gif (807 bytes) Identification of appropriate industry performance pay comparisons:
bblue.gif (807 bytes) Industry
bblue.gif (807 bytes) Turnover
bblue.gif (807 bytes) Number of employees
bblue.gif (807 bytes) EBIT
bblue.gif (807 bytes) Government -v- private ownership etc.
bblue.gif (807 bytes) Without extensive consultation it is not likely that staff will embrace options which are likely to be outside their sphere of comfort.   

Phase Three - Draft report with options for operation of performance pay;
Options Scorecard assessment including methodology and working papers; and The Executive will work through all the strategies and all the options, in a structured, workshop to decide the precise strategy.
   
Phase Four - Final refinement. Presentation of report to client.
   
At the end of the process final endorsement will be sought from The Executive and an implementation plan will be prepared.

What next?

If you are interested in more information please give us a call on +61 412 026 909 and ask to speak to one of our consultants. 

Alternatively e-mail us at info@emdgroup.com.au or use the form on our Contact Us page.

PARTNERS in PROGRESS

Sitemap | Privacy Policy | Disclaimer | 2015 EMD Group