LOGBOOK - SNEKKJA -

Make out the best out of the Reward, Compensation & Benefits schemes and processes

Optimizing the Course

Day Eight

Log

Harbours of Departure & Destination :

Adapt Comp & Ben strategy to Business strategy (variable compensation for client-facing roles, incentives for innovation, individual/team/business & company performance KPI-driven, ...). Build in flexibility to modify policies in function of the business needs. Create transparency about programmes, promotion and pay policies. Engage management support. Innovate and optimize programmes (Cafetaria, think out of the box your Reward programmes). Adapt Benefits strategy in a way supportive of Global Mobility (pension continuity across countries, Medical & family coverage...), while increasing cost-efficiency in assignments set up. Create streamlining, synergies and economies of scale on labour intensive processes and providers across the various entities present in one same country and across the region. Set up of payroll back up systems in all countries. Create synergies or shared services payroll & admin services where possible.

Position, waypoints & ports of call :

An implementation pace taking into account local entities’ ability to absorb the changes (e.g. industrial relations consultation requirements), while sustaining quality level business continuity and employee retention. Willingness for the company to adopt a GLOCAL approach : Global processes to be defined at central level. Implementation to be done at local level according to local specificities and global principles. The risks and downside of financial and tax optimization at any price. "Black box" reward policies, generating lack of buy-in, demotivation and unrest in the populations.

Weather forecast & potential hazards :

Speed & Compass Deviation :

12 months min. (full cyle of Budgeting, Business results and Reward process)

Crew :

Snekkja, CEO, Head of HR, Comp & Ben team, external tax advisors

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