Strategic Compensation Services
What are the objectives of Compensation?
- To Satisfy Employees’ Needs? Or
- To Drive Motivation for Performance?
The quest to attract and retain talents had been in the heart of every organisation who strives for business results. Compensation has been thought to be a major enabler in positioning an organisation’s competitive edge. However, organisations that strive for Superior Business Results would be in quest to MOTIVATE and ENGAGING the BEST talents by using compensation as an enabler for motivation.
– A New Outlook
Maintaining average business performance in well established organisations is relatively straight forward. However, to achieve Superior Performance requires organizations to move beyond satisfying the basic expectations for compensation. It is therefore vital to engage employees for motivation to drive for better business results through Specific Compensation Interventions.
The Consultants in ICC are market leaders in providing advice to assist companies in designing and developing Superior Performance Driven Compensation Interventions. Our experiences include:
- Board of Directors Remuneration Design
- Executive Remuneration Design
- Non-Executive Remuneration Design
- Short and Long-Term Incentive Design
- Terms and Conditions for Service Design
ICC’s services in Compensation Design are supported with comprehensive data and information through our ICC Remuneration Database.
The Thinking, Feeling and Reaction of Employees Regarding Compensation:
Scenario 1:
Question:
What would be the Thinking, Feeling and Reaction of Mr. Manager in Scenario 1 vs. Scenario 2?
In most cases, the motivation level of Mr. Manager in Scenario 2 is higher than that of Scenario 1. In this simple illustration, of just a small difference of RM 100 (1%) from the expected salary, it is apparent that managing perception accurately in compensation management is significant in drawing motivation from employees.
Contact us for more information in managing compensation effectively.