The Reward function traditionally sits in the Human Resources Department.
However, since the 2008 Great Financial Crisis, there have been, and still continues to be, numerous UK and international remuneration regulations to keep on top of. This means that our work as Remuneration professionals is no longer confined to HR.
We partner with the business and other support functions such as:
- Risk and Compliance;
- Company Secretariat;
- Investor relations
Responsible Reward forges a link between your business, sustainability and your remuneration strategies.
This adds another level of complexity with additional stakeholders.
When I undertake a responsible reward project for a client, a big part of my role is to ensure all internal and external stakeholders are fully briefed about the project, kept up to date of expectations, progress and deliverables, theirs and mine.
With every project I undertake, I follow my simple five-step proprietary E.A.R.T.H. methodology:
- ‘E’ EVALUATE the current situation;
- ‘A’ ASCERTAIN desired objectives and outcomes;
- ‘R’ REALISE changes needed;
- ‘T’ TELL the story;
- ‘H’ HELP monitor progress and results.