You can reward your people as well as you like. But unless you understand how they perceive what you give them, you risk focusing on the wrong things.
That’s because many factors feed into how people perceive reward in your organization. You might pay at the top of the market, for example, but have a bonus program that people don’t think is fair. Or perhaps your people would value flexible working more highly than a 2% salary increase.
Get the fuller picture
Our Total Reward Diagnostic is a short survey that answers these important questions:
How do your people perceive reward?
Do they think it’s fair and competitive? How would they change it?
Are they clear on what they get and why?
And do they understand how it reflects the wider business strategy?
Are you focusing on the things that matter?
Which benefits and non-financial rewards do your people value most?
Once we have the results, we can compare them against your actual compensation positioning and competitiveness, to identify areas of reality—perception misalignment and opportunities for smarter and more effective reward budget allocation.
Help people to see reward differently
If your results reveal areas where both the reality and the perception of reward are poor, it is probably worth trying to fix the reality – for example, if you pay your engineers below the market rate, and they aren’t happy about it.
But often, it’s the perception that’s the problem. And that can be cheaper to fix.
Problem: People aren’t clear on why you reward the way you do
Solution: Run an internal campaign to communicate the rationale for your reward strategy and how it reflects your organization’s values and objectives.
Problem: your reward’s okay but the perception’s poor
Solution: Benchmark that group’s reward against the market and communicate the results, along with the other benefits of working for your organization.
Problem: your reward’s okay, but you aren’t focusing it on the right things
Solution: Swap something that costs money, but your people don’t value, for something that’s low-cost to you and high-value to them.
If you want to give this analysis extra punch, run an Engaged Performance survey.
That way, we can map the results on to what we know about the reality and the perception of reward. And can we use this complete picture to help you get more from your biggest investment.