Rewarding in the here and now

  1. Has the economic crisis prompted you to take a closer look at your reward policy?
  2. Are your policies shaped by your principles and philosophy or do you mainly base your policies on rules and regulations?
  3. If you were allowed to set up an entirely new reward system, what would it look like?
  4. Have you carried out SWOT analysis of your current reward policy?

In most organisations cost cutting and compliance are key concerns. Even though the economy is showing signs of recovery, efficiency and legislation remain important issues.

Social developments require social innovation; society and work-related factors are increasingly subject to change.

How can you make sure the right people are available to you at the right time and place in an efficient and effective manner, now and in the future?

Perhaps this is the time to plot a new course and question and reconsider the well-worn patterns you have established over time.

Hamstra & Partners are launching a new reward philosophy:

Rewarding in the here and now

Reward your staff for their current worth to your organisation.
This means:

  • Rewarding staff for their current contribution, rather than (over)paying them for their performance in the past. Shift focus away from long-term loyalty towards contribution and productivity in the here and now.
  • Being alert to the limited shelf life of knowledge and qualities in relation to market and price developments.
  • Rewarding staff in a manner that is responsible in terms of business management; how much can you afford to pay in labour costs and how do you design a salary structure that optimally ties in with this?

Click here for the main differences between ‘Rewarding in the here and now’ and other much-used reward principles.

Hamstra & Partners is consulting with a number of organisations on how to translate this philosophy into policy.

If you would like to learn more, contact us or sign up for our round table meeting on May the 22nd at our office at Museumlaan in Utrecht.