REWARD STRATEGY
Towers Perrin finds growth in reward strategies
New research by human resource consultants Towers Perrin, to be published in December 1999, suggests that 78% of participants in its pan-European survey have a clearly-articulated strategy to better align reward policies with their business goals and organisational requirements . This compares with a figure of 69% two years ago.
According to Duncan Brown, principal at Towers Perrin in London, this is a recent trend, with almost half of these having been developed or substantially modified in the last two years.
An increased focus on customer needs, combined with a desire to broaden employee skills, has prompted an overwhelming overhaul of reward practices across Europe, says Towers Perrin. As many as 94% of surveyed organisations have made significant changes in the past two years.
Provisional findings from the research reveal:
six in 10 of the respondents restructuring reward policies in the past two years claimed to have changed bonus and incentive plans
just under half have made change to performance assessment/appraisal
four in 10 have revised pay and grading structures.
Survey details
Title: Reward challenges and changes survey
Survey sample: based on information supplied by more than 460 organisations from across Europe
Price: free of charge
Availability: published December 1999, Towers Perrin, London, tel: 0171 806 6464.