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Employers in the uk reward strategy develop new

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Unformatted text preview: ; growth • Autonomy • W ork environment • W ork-life balance Prioritize Prepare and present business case Plan implantation project Implement and review Reward Development Sequence Reward Development Sequence The Reward Strategy Development Sequence Develop & Implement Reward Develop & Implement Reward When B&Q decided to analyze their reward system with a view to making significant improvements, they did the following: A full audit of the current reward investment and its focus Consideration of the existing use of bonus schemes Examination of pay­for­performance arrangements Examination of current provision of financial and non­ financial rewards • Conducted 20 focus groups comprising people from different levels and departments across the B&Q business. • • • • Develop & Implement Reward Develop & Implement Reward Linking HR strategy with reward strategy HR strategy area Resourcing Reward strategy contribution • • Performance Management • • Talent Management Learning & Development Contingent pay sch...
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