REWARD MANAGEMENT AS
AN ANCHOR
The PBS approach (as illustrated on the strategic rewards management
page) is unique in its ability to provide clients with a holistic
solution to Human Capital Management. Of fundamental significance
and the major thrust of our approach is the need to ensure that any
HR initiative put in place is speaking to, informing or linked with
the Reward Management systems and processes. This therefore means
that Reward Management functions as an anchor to inform or leverage
other Human Resources Business processes. To the extent that reward
is aligned with the overall business imperatives, Strategic Reward
Management as we call it, if properly designed, becomes the force
/ influence that management can utilise to accomplish business objectives
and hence increase stakeholder value.
Against this background, we at PBS have developed what we term
the Dynamic Pay Concept or Strategic Reward Management, which is
based on three related premises:
- Pay can no longer be considered in a vacuum but must be aligned
with the strategy, structure and culture of both the organisation
and society.
- The competitive positioning of the organisation must be taken
into consideration.
- Whilst the job and performance measurement remain important,
greater emphasis must be placed on paying the individual for additional
shareholder wealth created.
Our aim at PBS is to develop a reward strategy solution which ensures
that reward policies are aligned to business and HR goals, point
in the same direction and will work in practice. This solution has
been instrumental in the implementation of Strategic Reward Management
principles in organisation across the spectrum from large parastatal
to private sector companies in South Africa and across the African
continent. |
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Reward Management as an anchor