Consulting Firm Rankings 2013: The Best Firms in Each Practice Area: Human Resources Consulting

The Hay Group Total Reward Framework A new way of understanding reward Reward strategies must be anchored in business reality to be effective. Which means linking it to your business strategy – and the needs of your employees as well as your organisation. Our Total Reward Framework helps you optimise reward, no matter how challenging the conditions. The issue Remuneration tends to be one of the worst-managed parts of an organisation’s cost structure. But with 10-70 per cent of total costs wrapped up in it, reward cannot be ignored, particularly in a downturn. To be effective, reward programmes must reflect the needs of the business, now and in the future. Only if they are tied closely to company strategy, business performance and the needs of employees can reward programmes deliver the ROI that is needed in tough times[MK1] . The Hay Group Total Reward Framework takes strategy as a starting point – and it focuses on total reward: every financial measure together with no

Aon Hewitt Total Rewards Framework

Aon Hewitt Total Rewards Framework The Aon Hewitt model and approach believes in considering Total Rewards as a business tool and very much linked to overall business objectives! Reward as understood is a very complex mechanism and some efforts of correcting the base pay and titling in a hurry by many MNCs in India have done a bigger crime by trying to correct it by market adjustments without looking at the talent map, complexity and expectations out of role and mapping it against the benchmark. Titles in India are a big misnomer and hardly any survey on compensation ever probes and captures and calibrates the tangible outcome based bench marking! If we dive deep, we will find that the key factors of Education, Experience and Quality of Education, Quality and relevance of experience and education are not calculated granular! A diploma holder technical manager gets the salary benchmarked for the top T-school manager with top quality experience in a challenging and break-through

Why is ‘Total Rewards’ key to talent management?

Why is ‘Total Rewards’ key to talent management? Total Rewards (TR) is talent life-cycle management tool that holistically embeds into the whole business plan. TR can add feather to the modern day HR if they can handle it well to give company the long term competitive edge Unfortunately TR is not a broad-brush tool and so it requires an insightful ‘HR Leader’ with strong sense and capability of strategic alignment, analytic thinking and rightful implementation strengths . WHY TOTAL REWARDS? You must show employees “what’s in it for me.” This means tying together the benefit of the job, the culture, their colleagues, and the company’s mission and its values, as well as total rewards. But total rewards are the most immediate and visible element to employees. SOURCE: Bremen, John and Sejen, Laura. Advancing Total Rewards & the Employee Value Proposition. WorldatWork. 2012. COMPENSATION: IT’S KIND OF A BIG DEAL Compensation can be the single biggest cost

Reflections--the stoic way!

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Consulting Firm Rankings 2013: The Best Firms in Each Practice Area: Human Resources Consulting

http://www.vault.com/wps/portal/usa/rankings/individual?rankingId1=237&rankingId2=81&rankings=1&regionId=0&rankingYear=2013

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