HR leaders should use end-of-year budget cycles and remuneration reviews to innovate their people strategy
It’s very important for HR leaders to use end-of-year budget cycles and remuneration reviews to innovate their people strategy, according to Kylie Green, SVP of Consultancy at Reward Gateway.
Green told HRD that while innovation in people strategies is a year-round exercise, planning for budget and remuneration review periods is “like the grand final season for HR”.
“It’s an exciting opportunity for HR leaders to innovate, think strategically and move the business forward,” said Green.
“It is also a good time to reflect on your investments in your people to ensure they match your demographic, values and strategies for the year ahead.
“Does your current offerings create a best-in-class employee user experience and support you to gain a competitive edge?”
If not, this is a great time to build a business case to ensure you have the tools to help you move the needle on your people and engagement plans in FY20, Green added.
Moreover, it’s a chance for HR to help the organisation build trust and a culture of open and honest communication through a well designed and implemented pay review process that reinforces your total value proposition, said Green.
Green will be part of an exclusive webinar by Reward Gateway on how HR change makers are using innovative benefits to enhance their Employee Value Proposition and gain a competitive edge.
She will be joined by Joy Adan, Content Journalist at Reward Gateway and Marea Phillips, Director People and Culture APAC at Insight to discuss how to:
- Turn your HR budget challenges into an opportunity to add value and showcase your HR team as innovative business partners
- Make a positive impact on employee engagement and overall EVP during end-of-year reviews, even with stagnant wage growth
- Boost employee income by 10%, for less than 0.1% of payroll through benefits
- Build the business case for engagement initiatives
The webinar Pay Review Special: How to boost employee income by 10% through innovative benefits, will be happening on Wednesday 8 May at 11:00am. Register now!