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✔ ATTRACT AND RETAIN TOP TALENT

✔ MAXIMIZE EMPLOYEE ENGAGEMENT

✔ MAXIMIZE BUSINESS PERFORMANCE

Are you struggling to attract and retain top talent?

Do you feel like your compensation and benefits packages are falling short of your competitors?

Are you interested in developing a more holistic approach to reward design? 

A well-designed and holistic rewards strategy is critical for attracting, retaining, and motivating employees. It can help create a competitive advantage in the marketplace, enhance employee engagement, and drive business results. 

WE OFFER A RANGE OF PEOPLE ANALYTICS SERVICES TO HELP YOU DESIGN AND IMPLEMENT A COMPREHENSIVE AND EFFECTIVE REWARDS STRATEGY, INCLUDING:

  • Market benchmarking and analysis to ensure your compensation and benefits packages are competitive 
  • Insights into the preferences and priorities of your employees, to tailor your rewards offerings to their needs 
  • Data-driven analysis of the impact of your rewards strategy on employee engagement, retention, and business outcomes 
  • Support for developing a total rewards framework that encompasses all aspects of employee compensation and benefits, including salary, incentives, benefits, recognition, and career development opportunities 

If you subscribe to our monthly services, you’ll receive a comprehensive rewards analysis that includes: 

  • A detailed report on the effectiveness of your current rewards strategy, including areas of strength and opportunity 
  • Benchmarking data to compare your rewards offerings against industry standards and competitors 
  • Actionable recommendations for improving your rewards strategy, tailored to your organization’s unique needs and priorities 

Overall, our services can help you create a rewards strategy that attracts and retains top talent, enhances employee engagement, and drives business performance. 

DOWNLOAD OUR PRICING GUIDE AND LEARN MORE.

What is Total Rewards?

Total Rewards encompasses the complete package of direct financial compensation (like salaries and bonuses), indirect financial compensation (such as benefits), and non-financial rewards (including work-life balance, career development opportunities, and workplace culture) offered to employees. This holistic approach aligns an organization’s strategy with its reward system, ensuring that all aspects of employee compensation and benefits work together to attract, motivate, and retain talent.

Why it is necessary?

A comprehensive total rewards system is crucial for attracting the best talent in a competitive job market.

Well-structured rewards go beyond basic compensation to foster greater employee engagement and job satisfaction.

Aligning rewards with performance metrics motivates employees to achieve and exceed their goals, directly benefiting organizational objectives.

By addressing not just financial needs but also emotional and professional aspects, total rewards help in retaining valuable employees, reducing the cost and disruption of turnover.

Common pitfalls

One-Size-Fits-All Approach: Failing to customize the rewards program to meet diverse employee needs and expectations.

Lack of Transparency: Inadequate communication about how rewards are determined can lead to misunderstandings and decreased trust.

Neglecting Non-Financial Rewards: Overemphasis on financial compensation, while undervaluing the impact of non-financial rewards like career development and work-life balance.

Poor Alignment with Organizational Goals: Rewards that are not aligned with the company’s objectives and culture can lead to misdirected efforts and reduced effectiveness.

Inadequate Review and Adaptation: Failing to regularly review and update the rewards system to reflect changes in the external environment and internal workforce dynamics.

Solution

We offer a comprehensive and adaptive approach to total rewards, aligning perfectly with your organization’s unique culture, goals, and workforce. Our service begins with an in-depth analysis of the external environment and internal work culture, leading to the creation of detailed job descriptions and effective job systematization. We meticulously design and implement a balanced blend of financial and non-financial rewards, ensuring they are transparent, equitable, and motivating.

Beyond this, we actively assist in the implementation of these strategies, including establishing pay ranges and assimilation policies, and provide thorough training to ensure seamless integration and understanding across your organization.

Our holistic approach not only elevates employee engagement and performance but also solidifies your company’s position as an employer of choice.

The result

ENHANCED TALENT ATTRACTION & RETENTION

A competitive and well-structured rewards system makes your organization attractive to top talent and helps retain key employees.

IMPROVED FINANCIAL MANAGEMENT

Effective structuring of compensation & benefits aids in better financial planning and budget management.

IMPROVED EMPLOYEE MORALE

By acknowledging and valuing employees through comprehensive rewards, morale and job satisfaction significantly increase.

POSITIVE COMPANY CULTURE

A fair and transparent rewards system reinforces a positive workplace culture and strengthens employee trust and loyalty.

ALIGNED EMPLOYEE & ORGANIZATIONAL GOALS

Clear connection between rewards and performance ensures employees’ efforts are aligned with the company’s strategic objectives.

INCREASED PRODUCTIVITY & PERFORMANCE

Employees are motivated to perform at their best when they feel recognized and rewarded, leading to overall productivity gains.

What we offer

BASIC PACKAGE

Focuses on job systematization and evaluation, including external environment assessment, work culture and reward system assessment, creation of job descriptions, and a comprehensive job evaluation process.

STANDARD PACKAGE

Includes all elements of the Basic Package, plus total financial reward design and implementation, featuring salary and total pay benchmarking, pay range establishment, assimilation policy, and tailored trainings.

PREMIUM PACKAGE

Encompasses everything in the Standard Package, along with the design and implementation of non-financial rewards, providing a holistic and multifaceted approach to total rewards.

Total Rewards

13 679 €

Basic

Job systematization and job evaluation

29 756 €

STANDARD

Basic + total financial reward design and implementation

33 987 €

PREMIUM

Standard + Indirect and non-financial reward design (such as perks and other workplace benefits) and policies

WHY PEOPLE ANALYTICS

A typical customer journey starts with a consultation to scope the work needed after the project has been completed our clients can continue the partnership with one of the subscriptions.

STARTS FROM 300€ Monthly

Basic

THIS INCLUDES COMPREHENSIVE HR DASHBOARD WITH CORE KPI-S TAILORED FOR YOUR BUSINESS NEEDS.

STARTS FROM 750€ MONTHLY

STANDARD

THIS INCLUDES MORE ADVANCED ANALYTICS SUCH AS PREDICTIVE MODELING AND MULTI-LEVEL DASHBOARDS.

STARTS FROM 1500€ MONTHLY

PREMIUM

THIS INCLUDES THE HIGHEST LEVEL OF ANALYTICS WITH CUSTOMIZABLE REPORTING LAYOUT

DRILL-DOWN OPPORTUNITY AS WELL AS MONTHLY 3 HOURS OF CONSULTING.

ADD-ON SERVICES

ADD-ON SERVICES SUCH AS AD-HOC REPORTING

DATA-VISUALIZATION

DATA CLEANING ARE PRICED BASED ON TIME AND MATERIAL.

WHAT IS TOTAL REWARD DESIGN WHEN IT COMES TO BUSINESS?

Reward design in business refers to the strategic process of developing and implementing a comprehensive system for recognizing, compensating, and motivating employees based on their performance, contributions, and achievements. It involves designing a framework that aligns with the organization’s goals, values, and desired outcomes while ensuring fairness, transparency, and competitiveness. Reward design encompasses various components, such as monetary compensation, non-monetary benefits, incentives, recognition programs, and career development opportunities. 

 

KEY ELEMENTS AND CONSIDERATIONS IN REWARD DESIGN INCLUDE: 

  1. Compensation Structure: Developing a fair and competitive compensation structure that aligns with industry standards and reflects the value of the employee’s role, skills, and experience. This includes determining base salaries, variable pay (such as bonuses or commissions), and performance-based incentives.

 

  1. Benefits and Perks: Designing a comprehensive package of employee benefits and perks that go beyond monetary compensation. This may include health insurance, retirement plans, vacation and leave policies, flexible work arrangements, wellness programs, employee assistance programs, and other offerings that support work-life balance and employee well-being.

 

  1. Recognition and Rewards: Establishing programs to acknowledge and reward exceptional employee performance, contributions, and achievements. This can involve formal recognition ceremonies, spot awards, peer-to-peer recognition, and incentive programs designed to motivate and inspire employees to go above and beyond in their work.

 

  1. Career Development Opportunities: Providing opportunities for career growth, skill development, and professional advancement. This includes offering training programs, mentorship initiatives, coaching, and advancement pathways that enable employees to enhance their skills, take on new responsibilities, and progress in their careers within the organization.

 

  1. Performance Management: Integrating reward design with performance management processes to ensure that rewards are aligned with individual and team performance. This involves establishing clear performance goals, conducting regular performance evaluations, and linking rewards to measurable outcomes and results.

 

  1. Communication and Transparency: Effectively communicating the reward design framework, policies, and processes to employees to ensure transparency and understanding. Clear communication helps employees understand how their performance is evaluated, the criteria for rewards, and the opportunities available to them.

 

The ultimate goal of reward design is to create a system that motivates employees, recognizes their contributions, and fosters a positive and engaged workforce. It helps attract and retain top talent, drive performance and productivity, enhance employee satisfaction and loyalty, and contribute to the overall success and competitiveness of the organization. 

 

WHO NEEDS REWARD DESIGN?

Reward design is beneficial for a wide range of companies across various industries. Essentially, any organization that employs a workforce can benefit from implementing a well-designed reward system. Here are some examples of companies that commonly utilize reward design: 

 

Corporations: Large corporations across different sectors, including technology, finance, retail, manufacturing, and healthcare, often have sophisticated reward design systems in place. These companies rely on reward systems to attract and retain top talent, motivate employees, and drive performance. 

 

Other Businesses: Others can also benefit from implementing reward design practices. Reward systems can help SMEs compete for talent by offering competitive compensation and benefits packages. They also play a crucial role in engaging and motivating employees, creating a positive work culture, and supporting the growth and success of the business. 

 

Startups: Reward design is vital for startups as they strive to build their teams and establish a strong organizational culture. Startups often need to be creative and strategic with their reward systems due to limited resources. Reward design helps startups attract and retain skilled individuals, drive employee motivation, and foster a sense of ownership and alignment with the company’s mission. 

 

It is also important for various other organizations. NGOs, despite financial constraints, need to engage and retain employees through creative non-monetary rewards like recognition programs. Professional services firms rely on performance-based compensation and career development opportunities to attract and retain skilled professionals. In retail and hospitality, competitive wages, incentives, employee discounts, and recognition programs are crucial for engaging front-line employees. Manufacturing and industrial companies use productivity-based incentives to motivate employees, while technology companies offer competitive compensation, stock options, and performance bonuses to attract and retain top talent. Overall, effective reward design is essential for organizations across sectors to engage, motivate, and retain their workforce. 

 

ADVANTAGES OF REWARD DESIGN FOR EACH LEVEL 

HUGE CORPORATIONS / ENTERPRISES: 

– Talent Attraction and Retention: A well-executed reward design helps large corporations attract top talent and retain high-performing employees. Competitive compensation packages, performance-based incentives, and comprehensive benefits can differentiate them as employers of choice. 

– Employee Engagement and Productivity: Effective reward design fosters higher levels of employee engagement and motivation. When employees feel valued and rewarded for their contributions, they are more likely to be productive, committed, and aligned with organizational goals. 

– Organizational Performance: By aligning rewards with desired outcomes, large corporations can drive performance and achieve business objectives. Performance-based incentives can encourage employees to go above and beyond, leading to increased productivity and improved overall business performance. 

 

OTHERS: 

– Competitive Advantage in Talent Market: Well-designed rewards can help Companies compete for talent with larger corporations. Offering attractive compensation, growth opportunities, and recognition programs can help Companies attract skilled employees who seek a supportive and rewarding work environment. 

– Employee Loyalty and Retention: Companies often have a more intimate work environment, and well-executed reward design can enhance employee loyalty and retention. Recognizing and rewarding employees for their contributions can create a strong sense of belonging and foster long-term commitment to the organization. 

– Flexibility and Agility: Companies can leverage reward design to be more agile and flexible in adapting to changing market conditions. They can tailor rewards to align with their unique culture, values, and growth stages, creating an environment that supports employee development and organizational success. 

 

STARTUPS: 

– Attraction of Top Talent: Startups often face challenges in attracting top talent due to limited resources and brand recognition. Well-executed reward design allows startups to offer competitive compensation packages, equity options, and growth opportunities that appeal to entrepreneurial-minded individuals. 

– Employee Motivation and Commitment: Startups rely heavily on the dedication and motivation of their employees. A well-designed reward system that recognizes and rewards achievements can foster a strong commitment to the company’s vision, values, and goals, driving the startup’s success. 

– Culture and Employee Experience: Reward design can contribute to shaping the culture and employee experience within startups. By focusing on creating a positive and rewarding work environment, startups can build a culture that promotes collaboration, innovation, and employee satisfaction. 

HOW PEOPLE ANALYTICS CAN HELP WITH REWARD DESIGN?

People analytics can play a significant role in shaping and improving reward design within organizations. Here’s how people analytics can help with reward design: 

 

  1. Data-Driven Decision Making: People analytics provides organizations with valuable data and insights related to employee performance, engagement, and preferences. By analyzing this data, organizations can make informed decisions regarding the design and allocation of rewards. For example, analytics can help determine which rewards have the most significant impact on employee motivation and performance, allowing organizations to allocate resources effectively.

 

  1. Identifying Performance Metrics: By analyzing data on employee performance, organizations can identify the most meaningful and relevant performance metrics and establish clear goals and targets. This ensures that rewards are aligned with the organization’s strategic objectives and encourage desired behaviors and outcomes.

 

  1. Personalization and Customization: People analytics also enables organizations to personalize reward offerings based on individual employee preferences and needs. By analyzing data on employee demographics, preferences, and performance, organizations can tailor rewards to specific employee groups or individuals. This customization helps ensure that rewards are meaningful and relevant, increasing their impact on employee satisfaction and motivation.

 

  1. Performance Evaluation and Calibration: It can support the fair and objective evaluation of employee performance. By leveraging data and analytics, organizations can establish standardized evaluation criteria, assess performance consistently, and calibrate rewards based on performance outcomes. This helps ensure fairness and transparency in the reward allocation process.

 

  1. Predictive Analytics for Reward Impact: Through the use of people analytics organizations can predict the potential impact of reward design on employee performance, engagement, and retention. By analyzing historical data and leveraging predictive modeling techniques, organizations can understand how different reward strategies may influence desired outcomes. This allows them to make data-driven decisions when designing or adjusting reward programs.

 

  1. Feedback and Continuous Improvement: Through surveys, sentiment analysis, and feedback mechanisms, organizations can collect valuable insights on the effectiveness and satisfaction levels of existing reward programs. This feedback can guide continuous improvement efforts, ensuring that rewards remain relevant, engaging, and aligned with employee expectations.

SOME BUSINESS RISKS IF REWARD DESIGN IS NOT EXECUTED RIGHT?

If reward design is not done correctly, organizations may face several business risks and negative impacts, including: 

Employee Dissatisfaction and Demotivation: Ineffective reward design can lead to employee dissatisfaction and demotivation. When rewards are perceived as unfair, inconsistent, or misaligned with employee expectations, it can result in decreased morale and engagement. Dissatisfied employees may become disengaged, leading to reduced productivity, poor performance, and increased turnover. 

 

Talent Attrition and Difficulty in Attraction: Poorly designed reward systems can result in the loss of top talent. When employees feel undervalued or unrewarded for their contributions, they may seek opportunities elsewhere, leading to high turnover rates. Moreover, organizations may find it challenging to attract skilled employees if their reward systems are perceived as uncompetitive or ineffective. 

 

Inequity and Conflict: Inequitable reward systems can create tensions and conflicts among employees. If rewards are distributed unfairly or based on subjective criteria, it can breed a sense of favoritism, resentment, and internal friction. This can harm teamwork, collaboration, and overall organizational culture. 

 

Decreased Performance and Productivity: Inadequate reward design can have a detrimental effect on employee performance and productivity. When rewards are not aligned with desired outcomes or fail to recognize high performance, employees may lose motivation to excel in their roles. This can result in decreased productivity, lower quality of work, and overall suboptimal business performance. 

 

Difficulty in Retaining High Performers: Effective reward design is crucial for retaining high-performing employees. If rewards do not adequately recognize and incentivize exceptional performance, organizations may struggle to retain their top talent. Losing high performers can lead to a decline in overall team and organizational performance. 

 

Negative Organizational Culture and Reputation: Poor reward design can contribute to a negative organizational culture and damage the company’s reputation. A culture where rewards are perceived as unfair or ineffective can erode trust, morale, and employee engagement. Negative word-of-mouth and reviews from dissatisfied employees can harm the organization’s employer brand, making it difficult to attract and retain talent. 

 

Wasted Resources and Inefficient Allocation: Ineffective reward design can result in the misallocation of resources. If rewards are not properly aligned with performance or organizational goals, valuable resources may be wasted on ineffective incentives or rewards that do not drive desired outcomes. This can lead to financial losses and inefficiencies within the organization. 

MAIN OBJECTIVES OF REWARD DESIGN:

The objectives of reward design in organizations are focused on creating a strategic and effective system that aligns with business goals and fosters employee motivation, engagement, and satisfaction. 

 

  1. Attract and Retain Talent: As mentioned before the primary objective of reward design is to attract top talent and retain high-performing employees. Competitive compensation packages, attractive benefits, and recognition programs help organizations stand out as employers of choice, enabling them to attract and retain skilled individuals.

 

  1. Motivate and Engage Employees: Reward design aims to motivate and engage employees by recognizing and rewarding their contributions, achievements, and performance. Rewards can be used as a tool to drive desired behaviors, encourage continuous improvement, and create a sense of pride and accomplishment among employees.

 

  1. Drive High Performance: By linking rewards to individual and team performance goals, organizations can incentivize employees to strive for excellence, exceed expectations, and achieve superior results.

 

  1. Support Organizational Goals: Ensures that rewards are tied to outcomes that contribute to the success of the organization. By aligning rewards with key performance indicators and strategic objectives, organizations can enhance employee focus, alignment, and commitment to achieving business goals.

 

  1. Foster Employee Satisfaction and Well-being: Reward design aims to enhance employee satisfaction and well-being. It recognizes that employees value fair and equitable compensation, work-life balance, opportunities for growth and development, and a positive work environment. By designing rewards that address these needs, organizations can foster employee satisfaction and create a supportive and fulfilling work experience.

 

  1. Promote a Positive Organizational Culture: By designing rewards that align with desired cultural attributes, organizations can foster a positive work environment and encourage behaviors that contribute to a healthy and productive culture.

 

  1. Retain Key Talent and Reduce Turnover: Effective reward design helps organizations retain key talent and reduce turnover rates. When employees feel valued, fairly compensated, and recognized for their contributions, they are more likely to remain committed to the organization, reducing the costs and disruptions associated with employee turnover.

 

  1. Enhance Employee Engagement and Commitment: Reward design aims to enhance employee engagement and commitment. Meaningful rewards create a sense of ownership, loyalty, and commitment among employees, increasing their dedication to the organization’s success and creating a positive psychological contract.

FUN FACTS AND BEST REWARD DESIGN SYSTEMS WORLD-WIDE

Fun Fact: Research shows that non-monetary rewards can be just as effective, if not more, than monetary rewards in motivating employees. Recognition programs, personalized experiences, and career development opportunities are examples of non-monetary rewards that can have a significant impact on employee engagement and satisfaction. 

 

Best Reward Design Systems: Several companies are known for their innovative and effective reward design systems. One example is Netflix, which offers a unique “Freedom & Responsibility” culture that emphasizes employee autonomy and flexibility. Netflix rewards employees with unlimited vacation time, no formal work hours, and trust-based relationships, fostering a sense of ownership and work-life balance. 

 

Fun Fact: Social recognition programs have become popular in reward design. These programs encourage employees to recognize and appreciate their peers’ contributions, promoting a positive and collaborative work environment. Such programs have been found to boost employee morale, engagement, and overall job satisfaction. 

 

Best Reward Design Systems: Atlassian, an Australian software company, has a reward system called “ShipIt Days” where employees are given 24 hours to work on any project they choose. This system promotes creativity, innovation, and collaboration among employees, allowing them to explore new ideas and contribute to the company’s success. 

 

Fun Fact: Personalization is an emerging trend in reward design. Tailoring rewards to individual employee preferences and needs can have a more significant impact on employee satisfaction and motivation. Personalized rewards can range from flexible work arrangements, customized professional development plans, to unique experiences or gifts. 

 

Best Reward Design Systems: Google is often recognized for its exceptional reward design system. The company offers a wide range of perks and benefits, including on-site healthcare, free gourmet meals, fitness facilities, and generous parental leave. Google’s reward design aims to create a positive work environment that supports employee well-being, creativity, and work-life balance. 

 

Fun Fact: Employee recognition plays a vital role in reward design. According to a Gallup poll, employees who receive regular recognition and praise are more engaged and have higher levels of job satisfaction. Recognizing and appreciating employees’ efforts can be as simple as a thank-you note, public acknowledgment, or a small token of appreciation. 

 

Best Reward Design Systems: Patagonia, an outdoor clothing company, has a unique reward system called “Let My People Go Surfing.” The company encourages employees to take time off for outdoor activities and pursue their passions. This approach promotes work-life balance, employee well-being, and a strong sense of purpose within the organization.