Total Rewards Strategy
With the changing business sentiment, compensation budgets have seen an increase for India Inc. and so have employee expectations. However, cost optimisation and focus on performance still remain India Inc's top focus areas. There is a clear opportunity for organisations to increase the return on their reward investment by understanding employee reward preferences, and having a clear strategy to link reward outcomes with business and employee needs.
Increase the return on your reward investment
Aon helps design or reviews your organisation's compensation strategy to ensure it aligns with your HR and business objectives. We can help you address a full spectrum of issues through a well-constructed rewards delivery including:
- Ensuring the commercial viability of your reward structure across market cycles
- Consistency across employee groups
- Transparency in communication
- The link between pay and performance
- Target competitive positioning
- Understanding what role your recognition program should play in your total rewards strategy
We help you develop a total rewards framework that ensures that your benefits programs truly differentiate you from your competitors, and reflect what your organisation stands for.
Implement structure and systems to maximise efficiency
Aon consultants have extensive experience across industry sectors, combined with unparalleled insights driven by our proprietary compensation data. With this unique combination of knowledge, we can help determine your organisation's current compensation market position, identify target markets and positions and establish the optimal mix of base salary, benefits and performance pay for your employee packages.
Develop, review and communicate policies
Policies are the link between your rewards strategy and how your managers actually implement rewards. Our consultants can assist with the development, review and communication of policies for all elements of compensation, including compensation policy for mergers and acquisitions and for employee retention.
We can also help with policies for all types of employee benefits including motor vehicles, leave, relocation, shift arrangements, on-call/call-out arrangements, overtime arrangements and benefits that are not costed to employees' packages.
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