The changing face of reward

The changing face of reward
Document type
Report
Corporate author(s)
Hay Group
Publisher
Hay Group
Date of publication
1 April 2010
Subject(s)
People management: all aspects of managing people, Management & leadership: including strategy, public sector management, operations and production
Collection
Business and management
Material type
Reports

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Hay Group's latest global study, based on interviews with senior HR specialists from over 230 companies in 29 countries, examines how companies are developing their reward practices to drive their business strategy. It finds that across all sectors and regions, organisations are struggling to re-build profitability. With revenue growth hard to come by, the focus is on balancing four often conflicting tensions: containing costs and improving performance while managing risk and keeping employees engaged. This presents organisations with some key challenges around how they manage and reward their people. The report finds that companies are seriously considering developments in the following areas to tackle these challenges:

  1. Making pay for performance a reality
  2. Differentiating and rewarding mission critical roles
  3. Increasing variable pay
  4. Centralising reward
  5. Market benchmarking

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