Averile Ryder – Global Reward Specialists

danielinfo iconAverile Ryder Global Reward Specialists have processed salary, benefits and conditions of employment surveys and in addition has consulted to numerous public sector and profit organisations in human resources and reward across Pan Africa for over 20 years and has repeatedly witnessed that those organisations who have transparent, fair and defensible remuneration or reward strategies attract and retain the best available talent. This always results in more effective, sustainable, economically and socially responsible and if relevant profitable organisations. Here in South Africa, across all industry sectors, organisations which emerge as successful and attract and retain the best talent, too name but a few, are Unilever, Microsoft, SAB, SARS, etc.

In our organisations we can begin to attract not only the right talent but also ensure that we get the “best bang for our buck” by having a fair, defensible and sustainable reward strategies, policies and procedures in place. I am also of the opinion that the more knowledgeable and informed the decision makers in organisations are about remuneration and reward, results in more transparent, fair and defensible strategies, policies and procedures. Organizations need to find a balance between paying too little, risking losing valuable employees, and paying too much and unwisely spending the organisation resources.

 

Components of an effective compensation strategy

 Components of an effective compensation strategy should consist of the following: 
Internal Equity
Equal pay for equal work within the same organisation 
External Equity
Equal pay for equal work when compared to your organisations comparitors 
People Equity
Individual employee or team team recognition and reward 
The organisation’s Competitive Market Position
To be a lead, lag or match payer within the organisations comparitor group. 

 


The table below further describes these concepts:

  Components of an effective compensation strategy 
Internal Equity
This includes having and / or developing: Job descriptions / Profile manuals for all job categories; Placing positions in job families / level descriptors; and See our job descriptions / Profile tab for our “how to write job descriptions / Profile manuals” manual and workshops Grading the relevant job categories and NOT the person. See our tab for our “How to grade jobs using the Paterson System of Job Evaluation” self-tuition manual and / or workshop 
External Equity
"The market for any job category is where you lose your labour to or draw your labour from”. The correct salary surveys therefore need to be targeted by the organisation for their relevant job categories. See our tab for our NPO Salary Surveys 
People Equity
This includes the following: Performance Appraisals, Short Term Incentive Bonus Schemes and Retention Bonus Programs. See our tab for Performance Management and our “Nuts and Bolts of implementing and / or improving your organisation’s Performance Management Program" self-tuition manual or workshop. 
The organisation’s Competitive Market Position
Competitive market positions include the following: Lead payer, Lead / Match payer, Match Payer, Match / Lag Payer and Lag payer. See our tab for competitive market positions for more details 

 
National CPR association
National CPR association