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Reward Systems
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Job Evaluations, Salary Grades, Bonus Schemes for different job families, Executive Pay, Focused Surveys; in general all the services that help an organization to attract and retain high performing employees efficiently.

Avery business needs to achieve the right balance between the minimum cost of the Human Factor and the maximum of attracting and motivating.
Especially when organizations change, achieving this balance in the business often requires special support in order to ensure objectivity and reasoned approach.
We at ICAP will analyze and evaluate your job positions and will rank them using external and internal equity as a measure. We will create your base pay and your incentive system that will suit the mission and goals of the organization, depending on the subject, size and geography.
We use documented methodologies from international organizations and independent pay surveys. The final solution will be customized on your business and will not be "off the shelf."

Who needs a thorough Reward Management System:
• Companies without structured pay systems.
• Companies with structured pay systems who want to increase meritocracy and introduce incentives.
• Companies who want to increase their competitiveness in attracting, retaining, and motivating people.

What is included in a Total Reward Management System:
• Pay grading and merit mechanism
• Incentives, short and long term (e.g. performance bonus, stock options)
• Benefits, (medical programs, pension plans, memberships etc.)
• Compensation administration solutions
• Performance and recognition
• Career Development

Principles of the system
• Pay for performance
• Equity (individual and internal)
• Competitiveness (in the market)
• Efficiency
• Motivation
• Alignment with strategy
• Transparency

ICAP Methodology
• Project team formation. Appointment of senior management sponsor.
• Strategy development of the total rewards system with input from corporate mission, vision and strategy
• Basic Pay System design
o Job analysis -  Job Evaluation (internal –external)
o Development of base pay structure, (Grades, range, steps etc)
o Development of pay move mechanism, Alignment with performance management
• Incentives system
o Development of standard bonus system aligned with business objectives
o Inclusion of other incentives (e.g. Long term) if needed.
• Sales Force Pay
o Development of incentive schemes specially designed for sales forces, front line and management
• Benefits
o Development of benefits portfolio based on agreed competitiveness level.
• Compensation administration solutions
o Development of relevant spreadsheets and/or software tools
o Documentation and manuals of all the processes
• Communication
o Preparation of a communication package per job family and grade or band.
• Implementation support and relevant training.

Special Tools Used:
• Job evaluation questionnaires
• Salary and benefit surveys, and tailor-made benchmarking
• Portfolio of pay models
• Integrated Performance and Reward management systems
• Portfolio of Incentive Schemes (Bonus, commission, team)

ICAP has evaluated jobs and has developed pay grading systems for Greek and International organizations

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ICAP helps you to be an Employer of Choice!

Kostas Zoulias
Director of Human Capital Consulting
Tel: 210 7200 168
Email: hcc@icap.gr

 
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