Averile Ryder – Rewards Specialist
Averile Ryder 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 18 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.
Elements of an effective total rewards strategy
|The elements of an effective reward strategy should consist of the following:
||The organisation’s Competitive Market Position
|same pay for same work within the organisation
||same pay for same work when compared to other participant organisations
||Individual employee recognition
The table below further describes these concepts: