Executive Reward Review:
- Undertake analysis of existing plans & review appropriateness of reward arrangements, specifically looking at:
- Market competitiveness of base salary & total cash
- Relative job size & impact upon grading structure
- Bonus arrangements, opportunity & composition (link to business & personal achievement)
- Review Long Term Incentive arrangements
Reward Strategy:
- Create guiding reward principles & strategy:
- Agree with business reward principles & overarching strategy with a view to informing the creation & implementation of new reward policies & processes
General Reward policy & practice:
- Undertake analysis of existing plans: to help understand what improvements are to be made :
- Complete Design of new sales incentive schemes: using insights drawn from the previous analysis and experience introducing similar plans in other major UK organisations.
- Agree global, regional and end market salary survey providers to ensure robustness of data availability
- Complete calibration of the new reward models: setting staff level targets and bonus / incentives to ensure both the best bang-for-buck and that the bonus/ incentive budget is controlled. Ensure the link to performance objectives are established.
