An effective remuneration and benefits strategy needs to be fair and transparent. It will help you attract high calibre talent and retain your current team members. As a result, it drives a healthy workplace culture and motivates team members to achieve your organisation’s goals. Using a combination of short- and long-term incentives will ensure every team member’s performance is optimised. It involves determining things like: 

• Where do you as an organisation want to fit in comparison to the market 
• How often are you going to review your remuneration packages? 
• What benefits are you offering? 
• How will you grant salary increases? 
• How will you reward high performance? 
• Do you have a Succession Strategy in place?
  
• How are you managing your high performers and team members that are flight risks?
  

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Why VeiraMal Consulting?

VeiraMal Consulting's broad market insights will optimise the build of your remuneration strategy. We act as an influencer by advising your wider HR teams and the board on best practices by:

• Working with you to put a Remuneration and Benefits committee in place, which will consist of the Executive Management, the Board and HR representatives 
• Assisting you in reviewing your current incentive plans in line with organisational goals 
• Benchmarking key management roles for market competitiveness 

• Facilitating the development of short and long-term incentives that are aligned to achieve organisational goals 
• Assisting with job placements within the organisation and benchmark the remaining roles within the structure 
• Putting a Succession Planning Strategy and Process in place
  

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