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Benefits Strategy
Background
In the past, business success has often been built around the efficient
deployment of fixed assets, tight control of expense and carefully targeted application of financial capital. Increasingly, however, the most successful companies of today focus on the best use of people. The workforce is no longer regarded simply as a factor of production, but as a valuable resource that must
be managed in appropriate and innovative ways. There is growing evidence of a strong correlation between the effective alignment of human resource management
capital and enhanced shareholder return.
Key issues:
- How do you make the often fundamental culture changes required to harness
the power of your people most effectively?
- How do you use your benefits programme to help create an environment of
shared values and goals and to initiate and implement change?
- How do you align the benefits elements of the reward package to avoid
delivery of inappropriate and contradictory messages to the workforce -
messages that are all too often historically driven and may reinforce
paternalism, security, long service and status to an inappropriate degree?
- How do you identify the total cost of each and every element of the
benefits package and attribute those costs by business, division, function,
location, grade, etc?
- How do you use benefits as a platform to enhance effective communication
with the workforce?
What we can do to assist:
- We have developed an innovative approach to examining the alignment of the
benefits package with key business needs and behavioural reinforcement
criteria
- Our method analyses every element of the benefits package
- We can help you test the business case for change before committing
resource to detailed feasibility, plan design and implementation
- Our approach has powerful modelling capabilities enabling alternative
benefit package scenarios to be costed and analysed across your organisation
- Our approach can benchmark your benefits against key competitors
- We can help with innovative advice on the communication of benefits
strategy throughout the culture change process.
What the results would be:
- A strategically-driven approach to benefits which produces a sound
framework for future benefits provision
- A benefits strategy which encourages and reinforces desired employee
behaviour
- Alignment of benefits strategy with corporate objectives
- Enhanced cost effectiveness and competitiveness for your organisation
- Benchmarking against key competitors
- A focused approach to internal benefits communication which is consistent
and integrated into overall reward strategy.
To find out more please contact
Neil
Herlihy or
Derek
Hunter.
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