Buck understands that today’s business issues are even more complex, as additional regulations and market dynamics demand attention. Our compensation, reward and employee incentive services provide organisations with a comprehensive solution for their employees.
Our expertise:
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Executive reward: state-of-the-art reward programmes and systems for key executives that increase shareholder returns, promote retention, and support good governance
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Employee reward and incentives: employee reward programmes and systems tied to individual, group and/or company performance. Our strategies are constructed to pave the way for growth and retention
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Total reward: the hottest of issues: we ensure that the full portfolio of reward components is deployed and understood to the best advantage of both client and employee. This facilitates transparency in cross-national reward, employee assignment, expatriate and in-country performance enhancements
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Reward governance: we assure good governance solutions for remuneration committee members, and ensure that compensation arrangements are tightly linked to creating shareholder value
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Sales reward and incentives: this is an important and growing specialist area. When appropriately designed, sales incentive and reward programmes are powerful devices that can enable organisations to maixmise results. They are critical components of the overall sales effectiveness of an organisation.
Executive reward
It’s no secret that the rules of executive pay – and of long-term incentive and equity-based compensation – are changing. Tighter regulations have forever altered the traditional accountability model, forcing creative adjustments in executive compensation packages.
Buck specialises in sound, yet creative adjustments that forge links between executive compensation and financial performance.
We can help you in the following key areas: - Executive pay strategy and design
- Long-term pay delivery programmes
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Strategies for managing the relationship between executive compensation and financial performance
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Executive compensation plan compliance
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Equity plan design and communication
Employee reward and incentives
Rewarding and retaining valued employees is essential at a time when they are continually asked to increase their productivity. Many high-performers generate nearly an additional 50% worth of work when compared to their peers. If they are not appropriately remunerated, their productivity and morale drop, and they may even join a competitor who is prepared to match their ambition.
Attracting and retaining high-performers is key to creating and maintaining competitive edge. Buck can help you effectively structure an employee compensation plan that will strengthen the bottom line and bolster morale.
We can help you in the following key areas:
- Employee pay strategy and design
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Job and role design measurement and evaluation
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Multi-source and bespoke external market benchmarking
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Base pay and variable pay delivery models
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Wider employee equity schemes
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Link between pay and performance management programmes
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Performance pay strategies
We can work with you to identify the value and cost of all components of pay and benefits, defining value for money, inappropriate cost and, most importantly, the range of options available to employers to extract the maximum benefit from the total reward package.
Once components have been clearly identified, we provide assessment skills which match every level of every component to the market-place, helping you to be competitive without being wasteful, and to craft total reward packages which are attractive to both the entire workforce and to particular populations who may require bespoke solutions as part of the talent/retention strategies.
We can help you in the following key areas:
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Full analysis of total reward components on a global basis
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Tools for designing, costing and assessing total reward structures
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Research into best packages and market levels for different employee groups or geographies
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Creation of strong links between total reward and variable/performance pay components
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Specilaist remuneration packages for talent pool members
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Board-level rewards designed with a strong total reward emphasis
The globalisation of organisations has led to the need for strict controls on the governance and transparency of reward practices and procedures.
It is vital that organisations review their practices so that they are protected from the increased risks resulting from inadequate governance of reward.
Buck Consultants can help you organise, develop and implement global reward principles capable of uniting the procedures and practices of local HR teams, whilst ensuring that a sufficient degree of local flexibility is maintained. We have powerful, web-based tools for sharing and assessing data on the quality of governance.
We can help you in the following key areas:
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Calibration of international reward practices
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Global compliance assessment
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Best practice gap analysis
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Board-level action plans for compliance
Sales reward and incentive programmes can be tremendous assets for any sales organisation. When properly designed, these programmes focus sales resources on the drivers of business success and create a magnetic relationship between salespeople and the business. These plans are a critical component of sales management effectiveness.
However, many plans fail because they:
- do not align with the sales process and functions of each sales job
- do not reflect the right measures of performance
- are too complex
- are encumbered by dysfunctional administration and communication processes
Buck Consultants has valuable insights into creating and managing effective sales reward and incentive programmes that drive business value.
Our services include:
Buck’s audit service analyses the effectiveness of the current plan, identifies strengths and potential risks and provides a recommend action plan for improving and maximising results.
Our consultants can help throughout the plan design life cycle, including current plan assessment, design, financial modelling, and implementation planning.
- Plan Communication and Implementation
Buck works with clients to enable a successful plan launch through designing communication and implementation strategies facilitating action plans and creating related materials and media.