Pay & rewards programs are a key element of acquiring and retaining talent, which is an attribute that did not change with the shifts in labour market dynamics and complexities. Pay & rewards will always impact the process of recruitment, retention, and brand image. However, understanding the impact of these forces on the competitiveness of the organisation is becoming increasingly difficult.
BI helps companies face these challenges by implementing an integrated framework that meets unique business needs and unlocks organisational capability. We create pay & rewards programs to ensure organisations can acquire, retain, and motivate talent, align rewards with performance, maintain a fair culture, and accordingly maximize the core corporate competitive advantage.
Our professionals use robust methodologies to design the most adequate pay & rewards programs that align with the organization’s culture and beliefs. We use data-led insights from the organization’s overall environment to help organizations compare reward structures across benchmark organizations and assess the competitiveness of the existing reward structure against labor market peers. We design fully customized grading structure and salary scales which are complemented with incentive schemes that are adapted to the competency model and career hierarchy. Our approach tracks long-term reward vehicles, and monitors changes in the external environment and governmental regulations to ensure organizations adapt their pay & reward structures with regulatory requirements, and what works for the organization and its people.