A reward strategy is a strong motivational factor for employees and gives employers a greater opportunity to achieve their goals.
Defining a clear connection between work results and rewards increases the effectiveness of achieving the organization’s strategic objectives.
Developing a high-quality reward and pay model is a significantly better strategy for both the organization and employees.
Prava formula knows how to improve job evaluation systems, develop a pay system based on internal and external job evaluation, and link the performance management system with the reward system.
How much to pay so that both you and your employees are satisfied?
We all know that salary is not the main motivator, but an adequate salary is important for employee satisfaction and productivity. A well-defined pay system clearly reflects the internal and market value of each job and provides a way to effectively manage human capital and work efficiency. In our approach, we start from the premise that defining the objectives of the pay system is the key differentiator for pay quality and employee satisfaction.
What are the benefits of a defined pay system for your company and your employees?
What are the steps in building a pay system?
Defining the pay strategy
At the beginning, it is essential to define the strategic goals of the pay system, as each organization differs in terms of:
- What it wants to evaluate and reward in the context of career advancement, salary increases, promotions, and retention of key positions and talents
- How flexible the pay system is
- What the target minimum and maximum salary levels are
- What communication strategy and level of transparency will be applied
- How deviations will be managed during the transition to the new pay system
Određivanje platnih razreda
Na temelju provedenog vrednovanja radnih mjesta – interno ili kroz JOB FORMULA TOOL – i definirane strategije plaća, vrši se grupiranje grupiranje poslova u platne razrede:
Broj i vrsta platnih razreda ovisi o veličini organizacije, razinama složenosti poslova i definiranoj strategiji plaća.
Usklađivanje s tržišnim vrijednostima
Ovaj korak je opcionalan i potreban onda kada želite plaće uskladiti s tržišnim vrijednostima u svojoj branši i /ili za pojedine specifične poslove, deficitarna zanimanja i slično. Obuhvaća usporedbu i usklađivanje plaća s tržišnim vrijednostima prema studiji istraživanja plaća koju vi pribavite.
Izrada transformacijske matrice
U ovom koraku izrađuje se tzv. transformacijska matrica koja podrazumijeva pridruživanje i raspoređivanje zaposlenika na nova radna mjesta i plaće te usporedbu s postojećim stanjem.
Ono što je važno, željet ćete utvrditi postoji li opterećenje na budžet i ima li zaposlenika koji padaju ispod minimalnog ili preko maksimalnog raspona plaća i za napraviti plan implementacije za rješavanje tih odstupanja.
What we offer:
Assistance in defining the pay strategy
Development of job evaluation and job complexity structure as a basis for creating pay grades
Development of a pay system for all positions based on the pay strategy and job evaluation
Review of job descriptions for alignment with the strategy of the new pay system
Comparison of salaries with market values according to the salary survey study you select and procure yourself
Preparation and assistance in developing a transformation matrix for positions and employees to the new pay system
Assistance in preparing labor law documents regulating the pay system
