Reward management

Formulating and implementing strategies and policies to reward people fairly, equitably and consistently

Reward management refers to a company's overall strategy for its payment and reward system for its employees.  It encompasses salary, bonus pay, benefits, and performance management.

A clear reward system within a company also can help motivate existing employees to improve their performance. Positive recognition for their work can help improve both performance and morale in employees, leading to higher productivity.

At thinkPeople we offer a range of services to help you manage your reward.

Job evaluation and grading

If you need a job evaluation system to grade every job in your organisation, thinkPeople offers a quick and simple solution.

Job evaluation offers your business a number of advantages:

  • The basis of a fair pay system underpinning the grading structure that you use to manage pay and benefits;
  • Grading your roles makes market benchmarking more precise and therefore reduces the possibility of overpaying or underpaying your people;
  • It helps you review your organisation structure by highlighting the relationship between roles in the same reporting line;
  • It allows you to identify overlaps and gaps in responsibilities between your business functions; and
  • Understanding the relative size of your roles and their responsibilities helps you identify career, talent management and succession planning opportunities.

At thinkPeople we offer a tailored job evaluation and grading approach which gives you a robust and consistent framework that is aligned to your organsiational strategy. This makes it easy for you to compare jobs. Not only does this help with structuring your pay and reward, it also makes benchmarking, organisation review, career planning and equal pay compliance more straightforward.

Capacity building and knowledge transfer are key aspects of our approach.

Pay benchmarking

Market salary surveys are often the only way you can access pay data for specialist jobs or sectors, focusing on specific job types, or people working in the same local labour market. They offer a confidential and legal way of exchanging pay and benefits data.

At thinkPeople we offer a variety of market surveys designed to fit your needs. They include:

  • Bespoke pay and benefits surveys: bespoke pay and benefits surveys can help you access vital information for a specific role or industry. Similarly, bespoke surveys can help you determine specific benefits or terms and conditions for a group of roles.  At thinkPeople, we ensure salary survey data collect is robust and meets your clients needs. Our specialists are available to assist in interpreting findings and recommending practical solutions.
  • Industry salary survey clubs: We work with a group of organsiations that consider themselves “peers” and who wish to benchmark their salaries with each other. We tailor our solutions to members’ needs. 
  • Board member surveys

Compensation structuring

thinkPeople can help you develop salary ranges and calculate pay review costs

Employee satisfaction surveys

Employees who love their jobs, stay at their jobs.

Employee satisfaction is the level of contentment an individual feels toward their job. It is a facet of employment that is seldom discussed, but is a very important element in any workplace.

It is important for businesses to monitor and understand satisfaction levels, and for good reason. The level of satisfaction employees feel towards their job is directly related to how successfully they perform their job, how long they remain at their current place of employment, and most importantly, it impacts the collective culture of the business.

thinkPeople’s Employee Satisfaction Surveys gather hard data on employee affective and cognitive satisfaction.