Having the right reward strategy will help you attract, motivate and retain the right people for your organisation. To help develop the right strategy it is important to challenge your organisation by asking some very simple questions. From our experience of working with clients in this area, the three most important questions to consider are:
What does your organisation want to reward?
How much does your organisation want to pay?
How will your organisation reward its people?
The main considerations for each question are set out below.
This is the most important question in your pay philosophy and therefore worthy of top management time. In our experience the answer to this question is not necessarily as obvious as it might appear. These are some examples of the factors our clients consider:
‘There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things.’ (Niccolo Machiavelli, 1532)
This observation from Niccolo Machiavelli rings true today – research indicates that 60-70% of major change initiatives fail. But experience suggests that many failures could be avoided by understanding, and differentiating between, not only the change process but also the individual components of change. This principle was used to help a senior finance team of an NHS Foundation Trust get their change initiative back on track.
The finance team of the NHS Foundation Trust had embarked upon a programme of transformation to ensure that the demands and challenges of the function could be met now and in...
“A MASSIVE thank you” says Sam Healey, Group People Experience Director..
This newly formed People Experience Team, faced with a huge wish list from the business (Countrywide), needed to define their game plan for 2016.
Sam (who heads up the team), asked Deborah Betts and Geoff Dodds to facilitate an ‘away day’ for her team to:
“Define the key areas of focus and who needs to work together on what, and how it all links together to deliver a connected service to the business”.
Keen to encourage the team to be creative and to think broadly, exploring ideas beyond their normal boundaries, we utilised big picture thinking and graphical recording techniques to help the team define their game plan.
The approach?We used an ‘orchard’ theme to enable the team to think creatively about their future focus. We tasked the team with creating...
Over recent years we have worked with a variety of clients designing and implementing capability frameworks. During our work we are often asked to explain the difference between competencies and capabilities. This question is far more complicated than it might seem. The terms are often used interchangeably, which makes it difficult to distinguish between them. The following is an attempt to explain the differences based on our research and experience of working with clients in this area.
Competencies are often associated with the behaviours that lay behind job performance, such as critical thinking or analytical skills. They evolved from the work of researchers and consultants specialising in managerial effectiveness during the 1970s. They developed an approach to identifying competencies based on obse...