Rewarding Team Performance
Are your incentive systems up2date in times of new megatrends?
How optimal is the fit between your business and reward model?
Why do you reward the performance of your employees?
You stumble over the "WHY" and would rather have expected "HOW is rewarded"? The "why" is a symbol for the challenge you want to master with the help of a compensation tool. For this, your Total Rewards model should be designed to serve the needs of your business model, the phases of the employee lifecycle as well as the "persona".
Findings from human resource economics show that people respond to incentives in a multidimensional way. These insights should be incorporated into the design of total rewards models. The subjective incentive of compensation elements and the perceived added value of benefits is fundamentally dependent on the "persona". Compensation is your powerful business tool to shape organization, change culture, and motivate, retain and attract selected employees from the marketplace.
Your teams are integrated into the reality of the agile and cross-national organization in their day-to-day work, but your job evaluation and market-oriented payment structures still depict a static organizational structure.
Their experts are spread across countries, but the different approaches prevent a consistent and perceived fair international salary development.
Traditional pay for performance cycles don't fit the fast-paced and increasingly iterative production processes of your business. Furthermore, you want to diversify your team and need preference-based compensation tools that can be set in self-service.
Award & Recognition
Honoring people and issues in context can have a strong positive impact on attitudes and future behavior of your employees.Findings from human resource economics show clear evidence of productivity behaviors among honorees and even more pronounced increases among non-award recipients.
Your employee shows excellent customer orientation or cooperation in a virtual international team and you would like to recognize this as a culture-shaping role model. How do you design a recognition program - across borders - without demotivating other employees?
Megatrends such as mobility, neo-ecology, new work, and silver society influence employee preferences and change your employer brand for potential applicants on the market.
Do you know the added value of the benefits your company offers internationally? A widely ramified potpourri of international benefits has often evolved and are rarely strategically selected and bundled.
Which non-monetary benefits have a higher retention effect in a cost-neutral form for which "persona", e.g. a more mobile work location or a place in the company kindergarten.
Rewards' Change Management
Your value chain is changing into a value network, so that departmental structures are losing factual validity. The question arises whether, for example, team goals should still be internally aligned with the department or whether alignment with the process participants of the E2E processes better supports the market strategy.
Companies are integrating sustainability into their business strategy and defining measures that are reflected in the HR strategy. For example, a realignment of the mobility strategy is underway. This includes the revision of home office regulations with a decoupling of working time and location to the adaptation of the regulations for mobility.
Walk the Talk: Digitalization, neo-ecology, gender shift, and globalization are some of the megatrends that require a realignment of monetary and non-monetary compensation and have a high culture-changing impact.
Digitization in your business market shows a distortion of the previous Go2Market approach. Increasingly, sales are being made via digital platforms and multi-channels without a 1:1 customer relationship. However, your sales incentive only pushes sales in your own account.
Services or products are no longer sold, but leased or licensed for a limited period (XaaS), and sales management lacks planning data for the realistic definition of KPIs. Incentivization on the basis of weighted sales potential can serve as a solution, which is only paid out in subsequent years if targets are achieved on a sustained basis.
HCM systems that efficiently map C&B processes and products and provide intuitive user operation with the help of UXD are difficult to probe in the market.
Grading, pay benchmarking, salary and performance reviews represent the minimum of a digitized C&B portfolio - in-house. Which providers and systems offer you further possibilities for digital process handling and simplified customer use for your C&B portfolio?
Performance-related compensation components in the form of classic variable compensation tend to lead in practice to uniform target achievement of 100%. Differentiation according to performance is in fact not sufficiently used.
Are spot bonuses or OKR instead of annual bonus more effective tools for your agile teams in iterative work processes?
Existing Big Data provides evidence-driven statements about their company's own most effective form of incentivization on behalf of employees and management.
You have your peers in mind and compete for similar skills on the labor market in different countries and market segments. How do you position yourself optimally as an employer for different employee groups?
You are opening a production facility or branch office in a new country and need an estimate of how personnel costs (depending on skills, national law, industry practices and other parameters) are to be classified.