Total Reward is a critical tool by which organisations attract, engage and retain human capital. These are essential input criteria to the psychological and contractual agreement formulated between employers and employees, in return for the latter’s time and efforts in advancing the interests of the organisation.
Total Reward is not the only means as there are many other aspects to an employee value proposition, but it is certainly vital to the game. Total Reward spans all components of remuneration from guaranteed pay and benefits through to short and long term incentives. The mix of remuneration paid to an employee or executive is widely recognised as the total rewards mix.
Khokhela understands the key role that this reward mix plays in driving balanced behaviour that aligns with the shareholders’ and stakeholders’ objectives. Khokhela works closely with its clients to design customised Total Reward Solutions that drive value-creating behaviour.
These solutions range from individual package development to enterprise wide reward strategies.
Khokhela Remuneration Advisors is a member of the South African Reward Association.
Developing reward policies and strategies which align with the business strategy. This is one of the most important aspects of remuneration which is often overlooked or not developed properly.
Drafting of job descriptions and job profiles based on one-on-one interviews with the job incumbent and their direct manager/supervisor. Also available is a one-day in-house job description writing training programme.
Implementation and grading of positions using the Paterson Job Evaluation System. Also available is a two day in-house training course in the use of the Paterson Job Evaluation System. The workshop covers the rules of the system as well as practical exercises.
Benchmarking of executive, non-executive and general staff remuneration against appropriate markets.
Development of pay models according to client specific needs. e.g. against national / target markets. Providing guidance to clients in the identification of critical / key skills and key talent. Comparison of individual pay against the pay line and providing of recommendations as well as modelling of different increase scenarios after including performance and other factors.
Analysis of a company’s pay to identify inequalities. Highlighting of potential risks and assisting in resolving pay issues.
Assisting clients with the conversion from basic salary and benefits to cost to company. Providing full costing of transition of total package based on different scenario`s. Conducting briefing sessions with employees on changes to cost to company.
Designing, drafting, and modelling of short-term, long-term, production bonus and sales incentive schemes to motivate and reward participants to achieve goals which are aligned with the strategy and objectives of the organisation. Scheme`s should align with and link into the performance management system.
Long-term incentive schemes are an essential component of executive remuneration and due to the long- term nature and the amounts involved, need to be designed and modelled and drafted very carefully. The process of obtaining approval is also critical. Experience is essential to ensure the consequences of any design are in line with shareholders objectives.
Well-designed sales schemes can change the behaviour and align sales peoples’ behaviour with that of the company’s objectives.
When designing production bonus schemes, line of sight is critical as well as ensuring that the bonuses are paid for value adding activities.
Surveys are customised according to client specific needs, and are used to benchmark select positions against the market. The commissioning company chooses the participants, the positions to be surveyed as well as the format in which to present the results.