Reward & Compensation Management
The many disputes arising out of deadlocked wages and salary negotiations are testament of the contentious nature and intense emotions that accompany conversations around compensation in South African workplaces. The degree to which employees perceive their worth to be valued by an organisation determines their output levels, as well as their engagement and commitment to the organisational goals and objectives.
This makes it incumbent on organisations, whether in their start-up or advanced stage of growth to establish an equitable pay structure equal to this perceived worth. We have always encouraged new ventures and SMMEs to explore various non-analytical schemes to determine pay structures in their formative stages in order to have a legal standing for pay decisions while remaining competitive at the same time. However, as the organisation grows, these pay structure schemes can become more sophisticated based upon unique corporate culture, climate, technology and structure. Similarly, well-established conglomerates have a plethora of analytical schemes available at their disposal to choose from to support of their pay policies. That way, organisations will be in a favourable position of attracting and retaining top talent.
At STADI we pride ourselves in being an astute rewards analyst firm boasting an impeccable track record of providing guidance and support in the development of world-class reward packages within SMME business structures, government and corporate sectors of the economy. Our approach involves the following processes through which we can –:
- Identify and analyse the needs of the business by conducting research into remuneration trends and best practices
- Analyse the business requirements in terms of a total remuneration philosophy, strategy and policy
- Ensure that appropriate change management interventions are adopted for implementation of new products, policies, practices, systems and processes
- Ensure the total remuneration approach includes sound job evaluation methodology and process
- Conduct job evaluations for all levels
- Negotiate and agree with key survey houses on the contractual agreement for survey participation
- Research and benchmark best practice in employee benefits. Prepare final recommendations for approval and act as policy custodian for benefit policies.
- Ensure governance over the
remuneration function across the company