Development of corporate systems of remuneration and incentives for company staff

We will help you create a remuneration system oriented to performance improvement, creativity, commitment and initiative of staff, all that qualities that lead to effective work and achievement of the strategic objects of the Company. 

Any Leadman of the organization on their own experience knows that for long-term success in business the most important is the employees’ desire to work productively, spare no effort. What is necessary to do? What conditions to create, what monetary compensation to pay employees? How to encourage and stimulate effective work of the personnel? – All of these questions relate to the management system of labor motivation of employees.

It is obvious, that people, who work for hire in the organization, work, primarily, to earn a financial reward. Therefore, the system of payment in any organization should be directed on encouraging performance, creativity, diligence and initiative of workers, all the qualities that lead to effective work and achievement of the strategic objects of the organization.

Connection material interests of employees with aims of the organizational allow the last to attract and retain qualified personnel to monitor and control labor costs, maintaining the optimal number of employees.

For all these purposes are served also by intra corporate wages systems, stimulations and motivations of the personnel which shall be developed in the organization.

Creating a system of payment and incentives for any organization – a very specific and difficult process that requires professional understanding of the nature of motivation, knowledge and experience in the development and application of methods of personnel remuneration.

1. Diagnostics of work motivation, value orientation and labor satisfaction of company staff

• Troubleshooting, disclosure of violations and deficiency, this is a testimony to an incorrect incentive system and motivations of workers (organizational aspect);
• Identifying the core values, factors-motivations and staff type of motivation (personal- psychological aspect);
• Diagnosis of employee satisfaction labor remuneration and incentive system in the organization;
• Determination of the basic principles and rules of company motivational policy, content and structure of compensation;

2. Development of a basic wages (constant component of the monetary reward), on the basis of determination in corporate value of positions and workplaces:

• classification of job and  individual working place,
• determination of wage rate,
• creation a rating system of payment for the labour of employees, taking into account results of market monitoring of salaries.

3. Development of bonus (variable) part of the monetary reward for the purpose of strengthening stimulating influence of a salary on labor productivity:

• Determination of corporate-wide, group and individual performance indicator of the different categories of staff,
• Formation mechanism of communication performance indicator with the rate and conditions for obtaining variable part of the monetary reward.

4. Development system of social benefits, effective social policy of the company;

5. Development internal regulating documents fixing system of the monetary reward of the personnel;

6. Counseling assistance in case of implementation and monitoring of performance indicators system of the monetary reward;

7. Training HR managers in technologies of optimization and improvement the company’s compensation package.

 As a result of our work, the client company receives not only an efficient and modern compensation system, not only the package of corporate regulations, but also methodical developments and materials which will allow enhancing and developing the system of the monetary reward of the personnel independently further.