Averile Ryder Global Reward Specialists

danielinfo iconAverile Ryder Global Reward Specialists have processed salary, benefits and conditions of employment surveys and in addition has also consulted to numerous profit, public and non-profit sector organisations in remuneration (or compensation) and human resources across Pan Africa for collectively over 40 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 your organisation you can begin to attract not only the right talent but also ensure that you get the “best bang for our buck” by having fair, defensible and sustainable reward strategies, policies and procedures in place. We are also of the opinion that the more knowledgeable and informed the decision makers in your organisation are about remuneration and reward, results in more transparent, fair and defensible strategies, policies and procedures. You need to find a balance between paying too little, risking losing valuable human capital or paying too much and unwisely spending your organisation's 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 organisation's comparators  or competitive market
People Equity
Individual employee or team team recognition and reward 
Competitive Market Position
To be a lead, lag or match payer within your organisation's competitor or comparator market sector. 

 


The table below further describes these concepts:

  Components of an effective compensation strategy 
Internal Equity
This includes having and / or developing job descriptions / profiles for all job categories, making use of job families / level descriptors. Grading the relevant job categories and NOT the person.
External Equity
"The market for any job category in your organisation is where you lose your labour to or attract your labour from" The correct salary surveys therefore need to be targeted by your organisation for your key and / or core human capital.
People Equity
This includes: performance management, short term incentive and retention bonus programs.  
Competitive Market Position
Your organisation’s competitive market position or compensation strategy could be to be a lead, lead match, match, match / lag or lag payer. 

 
National CPR association
National CPR association