Total Rewards
Beyond Compensation & Benefits
“Total Rewards” is not just about compensation alone, but it covers the broader area with both monetary and non-monetary elements, which together provide a great tool to businesses to ensure an engaged and productive workforce.
In general, Total Rewards encompasses aspects like Career Development, Compensation, Benefits, Learning Opportunities, Rewards, and Recognition. So, this is the toolkit available to design the overall rewards strategy to ensure a motivated workforce, which drives the organization to sustained success. Organizations can deploy these tools strategically to bring out the best from their employees and create a competitive advantage. A well-designed rewards strategy based on thorough industry research is critical for attracting, retaining, and motivating people. Building a rewards strategy, on the other hand, is not straightforward. While the market keeps evolving, the need for a transparent and efficient system continues to grow. The best approach to rewards strategy isn’t one-size-fits-all. It must be crafted in such a way that the culture and the desired objectives are achieved.
By conducting thorough research, evaluating options against industry norms, and collaborating with all the key stakeholders, we can assure you a competitive rewards strategy and fair & rewarding experience for your employees, which can result in a significant boost in performance. At ErgoTalent, we understand the dynamics and constantly innovate to find the best strategy for both people and the organization.
Career Frameworks
Redefining career paths
Job Evaluation & Job Library
Job evaluation is a method that aims to provide objectivity in estimating the organizational value of a job and is crucial when deciding on a compensation structure. It assists management in finding and hiring the best individuals for the correct positions.
Career Mosaic
The days of the career ladder concept are long gone. Professionals rarely expect to start at the bottom and work their way up the corporate ladder until retirement. Keeping up with the times necessitates being as far ahead as possible. The Career Mosaic approach matches today’s fast-paced environment and mentality. Professionals develop and upskill themselves to move on to the next opportunity rather than remaining in a single job function.
Performance Management
Measuring Organization’s Productivity
The effectiveness of a robust performance management approach depends on defining the organization’s goals, business unit objectives and then tying those to the fundamental responsibilities of everyone’s role. ErgoTalent’s failsafe methods help you plan, execute, and review your performance management strategy and provide a comprehensive solution and options to increase productivity and enhance your workforce’s effectiveness.
Compensation & Benefits
Designing holistically in line with market
Outsiders are continually scrutinizing executive salaries. ErgoTalent assists management in engaging shareholders and other stakeholders, developing an organizational pay roadmap, and implement and communicating strategies.
We recognize that executives factor in several criteria such as base pay, short- and long-term incentives, and crucial concerns including performance evaluation, executive benefits, severance arrangements, change-in-control initiatives, and governance. Our HR experts advise companies on striking a balance between executive compensation, corporate governance, and shareholder interests.
Compensation Structuring
It is easier to monitor your salary expenses if you have a robust compensation structure. It can also assist firms in retaining high-performing employees and making new hiring and promotion efforts more focused and straightforward.
Compensation & Benefits Benchmarking
Employers can use compensation & benefits benchmarking to balance specific, desirable compensation & benefits and factor various employee needs alongside necessary cost-optimizing measures.
Rewards & Recognition
Reinforcing positive outcomes
Employee incentives are in place to recognize and motivate employees on an individual or group basis. Rewards are usually distinct from salaries, intrinsic and extrinsic in character, and come at a cost to the organization.
Transforming Organizations and Careers!
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