Reward

ALIGNING REWARDS TO BUSINESS SUCCESS

 

Solutions to suit every business

Strategic Pay provides innovative solutions to organisations for their strategic remuneration, performance development and performance improvement needs. We have developed systems and approaches that suit the needs of the New Zealand market and cater for every business, irrespective of size or sector, profit-driven or not for profit. Whether your focus is on internal equity, market relativity or performance improvement, we have a range of solutions to meet your needs.
 

Our areas of expertise include:

 

Executive and Board Remuneration

Our experienced senior consultants provide a range of solutions to fit your unique situation when it comes to Executive Remuneration and Reward, including Base Pay advice, Short, Medium and Long Term Incentive Plans, Directors’ Fees and Performance Management.
 

Remuneration and Reward Strategy

The cornerstone to a successful human resources strategy is ensuring your reward strategy is closely linked to wider HR and business objectives.  We assist you with the development of a remuneration and reward strategy that suits your business; understands your talent retention issues and ensures all stakeholders have bought into the value proposition. We provide some key frameworks and tools to make this easier. 

Job Descriptions

A key element of HR administration, job descriptions enable the right job content to be assessed for relative size, both internally and for external market comparisons as well as providing the foundation for your performance management system.  

Job Evaluation

A real strength in our offering: we have a number of different approaches when it comes to assessing the relative internal size of jobs in your organisation and providing a defensible base when it comes to reviewing market pay.

Market Information 

Our remuneration database and remuneration survey report suite is the largest in New Zealand, enabling you to benchmark your roles by size/band/function/benchmark job match with confidence and ease.  In addition, our technology based tools make this really easy to tap into.
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Remuneration Policy and Structure

Know that your remuneration policy and systems align with your reward strategy and you have the framework to ensure you attract and retain the right people.
 

Pay Equity

Simply put, pay equity is “the same pay for different work of equal value”. However, the issue is much broader than that, pay inequity is a systemic challenge. Strategic Pay has developed proprietary tools and has the depth of information and expertise to assist organisations to explore and address equity in the workplace.

Managing Performance

We can assist with aligning job descriptions with performance planning, overall performance management system design, documentation and employee communication, 360 degree feedback and management and appraisal coaching and facilitation .
 

Rewarding Performance

Whether its linking base pay to performance outcomes and implementing Incentive Schemes, we have the expertise to assist.

Managing Rewards

This area of our offering includes advice on process, communication, budgeting and costing tools, and training.  In addition our RemWise salary management tool is the best system to store employee and job information, facilitate your salary review and model various salary increase and budget options.