Job & Reward Management
Benchmarking helps organisations understand where they stand in respect of the industry so that they can make the right decisions in terms of salary, rewards, compensation, and benefits management. This significantly influences not only cost management but mitigates the risk of losing key talent as well as incurring escalating costs associated to talent recruitment and development.
- Job Structure Management Through Job Analysis
- Job Grading Structure Through Job Evaluation
- Compensation & Benefits Benchmarking
- Design Total Rewards Strategies
JOB STRUCTURE MANAGEMENT THROUGH JOB ANALYSIS
Job analysis results in two very important but often underestimated documents – the job description and job specification, which includes an assessment of the nature of the job as well as the requisite knowledge, skills, and attitude for the position. In other words, it provides details of the job requirements and nature in a written format.
- Identify which jobs require analysis
- Provide you with data regarding the job based on industry-standards
- Analyse job correlation with your organisation’s strategies and vision
- Provide you with an accurate job description and the specifications required for the job
JOB GRADING STRUCTURE THROUGH JOB EVALUATION
Having a professional and industry-level grading structure ensures employee satisfaction and determines which employees you should be putting in which positions. Whether you are looking to hire new talent or planning to promote existing employees, a grading system ensures that the best people for the job are put in the correct positions. Job evaluation allows the proper job architecture and levelling to help your organisation be at par with the industry.
- Experience and skills needed for a particular job
- The required nature and range of duties
- Decision making ability for a particular job
- Leadership skills and other specific skills for the job
COMPENSATION & BENEFITS BENCHMARKING
With industry standards and dynamics constantly shifting, it is hard to know how much is too much or if what you are paying is even enough? With a database of over 124 consultancy clients, Maslow’s consultants are poised to help you develop a compensation and benefits structure that is not only fair but competitive, thereby, helping you identify rewards packages that best align with your company's goals and employee aspirations.
- Benchmark your current remuneration scheme to that of your main competitors
- Identify strengths and weaknesses in your current packages
- Restructure your packages in a wallet-friendly manner
- Guide you to attract the right talent
- Provide you with a compensation and benefit structure that retains your top talent
DESIGN TOTAL REWARD STRATEGIES
Setting clear and competitive rewards schemes not only serves to motivate your existing employees but acts as an attractive recruitment tool for potential employees as well. But with new and constant changes in industry standards, how do you know if what you’re offering is competitive or even attractive? By providing your employees with lacklustre benefits, performance not only goes down but you risk losing employees to other, more competitive, organisations. On the contrary, calibrating your company’s pay and benefits scheme and providing your employees, especially the top talents, with a career roadmap will give your company that much needed competitive advantage.
- Analyse your current rewards programme with that of your competitors
- Re-aligning your current programme to fit a new, more competitive strategy
- Structure career frameworks and map rewards to retain your best people
- Attract future employees with competitive reward structures
Why your business needs it?
Every few years, industry standards change. What you paid your employees when they first started 10 years ago may have been competitive back then but may be sorely lacking in the present market. Therefore, your employees may not only feel underappreciated but demotivated as well which will definitely affect their performance at work. By providing your employees with competitively packaged rewards, compensation, and benefit schemes, they are not only more likely to perform better but stick with your organisation for longer as well, bearing in mind that the rehiring is a costly endeavour. The same is also true when trying to hire new talent.
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