Advice & Research

Croner Reward’s consulting team provides specialist, independent advice on reward practice, policy and strategy.

Pay & reward advice

Pay & reward advice is an important area for any HR department and discussing issues that your organisation has with an expert in the field can be an excellent way of obtaining good quality advice on the following areas:

Pay policy & grading structures

The starting point for many of these conversations is an issue that has arisen or a process that needs introducing for a major piece of work around pay and benefits or a grading structure.

As a matter of good practice, organisations typically test their pay policy every 3 to 5 years but, when the time arises, having expert help can take the stress and hassle out of a sensitive and complex area.

Where businesses have grown organically or through mergers and acquisitions, then the structure may no longer be fit for purpose.  To develop a new structure that supports the overall strategic objectives, a comprehensive job evaluation and pay benchmarking exercise is invaluable.  Whatever level of support is required; having excellent help from a dedicated team of professionals can make rolling out a new grading system or reviewing salary levels easier than trying to manage the project internally.

Job evaluation can either be managed independently through an online system or facilitated by a specialist consultant.  If you wanted to define the individual job grading for roles yourself then an online job evaluation system is a good option.  At the end of the process, you have a definitive job rank and this can be used with pay benchmarking solutions to establish the ideal market salary for that position. Processes  and systems that support job evaluation and pay benchmarking activities usually give a detailed breakdown as to how the results are compiled and this in turn gives a defined audit trail – ideal for appraisals or board meetings.

Directors’ remuneration can be a detailed and sensitive area and with this complexity it can be beneficial to discuss particular requirements with an expert in the pay and benefits field.  Having this knowledge from an expert can give peace of mind to what can be a defined set of criteria.  An in-depth, credible report that defines the appropriate remuneration package is great for discussion at interviews or at board level.

In addition, when you have decided upon a preferred supplier in this area then it is easier to go back to them in the future, as they will know your business and you can hit the ground running with any future requirements.  Whatever you decide, these processes can be expensive and you need to select a provider who you can trust to deliver the work accurately and in a timely manner.

Talk to the pay & reward experts

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