Reward and performance

Reimaging reward for the new world

Talent shortages, changing workforce preferences, the AI empowered future of work, as well as cost of living and tax challenges are pushing companies to reinvent their reward strategies and approaches with the support of data and technology.

More than ever, organisations are being challenged to effectively manage reward and benefits costs, and maximise the return on the overall investment in human capital. In this new world where people are motivated to work for companies who are purpose-led, yet facing a future that is less defined, organisations still need to ensure that their reward and performance framework supports this and remains aligned to strategy.

It is therefore critical for organisations to take a fresh look at their total reward and performance strategy to ensure it aligns with any new and evolving workforce strategies.

In this new world where people are motivated to work for companies who are purpose-led, yet facing a future that is less defined, organisations still need to ensure that their reward and performance framework supports this and remains aligned to strategy.

It is therefore critical for organisations to take a fresh look at their total reward and performance strategy to ensure it aligns with any new and evolving workforce strategies.

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Making executive pay work: The psychology of incentives

There is an emerging consensus, at least in Western economies, that there is something deeply flawed about the current model of executive pay. Executive pay has risen dramatically over a period when, in hindsight, the Western economic model has not been at its most successful. Surely something must be wrong?

How we can help

We work with our clients to understand their people’s reward and benefits; supporting them from the design to implementation of cost-efficient compensation and benefit plans; that:

  • are designed to support the attraction, engagement and retention of key talent,
  • help drive individual and collective discretionary effort,
  • are compliant and cost-effective,
  • and align reward, performance and business strategy.

We work with organisations to make their programmes more effective through:

Reward consulting

  • Reward benchmarking through our annual PayWell - Salary and benefits survey 
  • Job evaluation and base pay design, based on a tested and versatile methodology

  • Incentive scheme design, including performance bonus, sales commission, long term incentives (cash or equity), linked to performance

  • Benefits scheme optimisation, taking into account market practice, employee preferences and cost effectiveness (incl. tax implications)

  • Executive compensation design

  • Pay governance and pay transparency consulting & reports preparation 

  • Reward policy review / preparation

  • Reward due diligence and reward post-merger alignment

  • Internal communication / upskilling on reward matters for HR team and management

  • Support in configuring your HRIS and other tools to optimise processes and improve user experience

Performance management consulting

  • Improving current or designing a new performance management system based on best practice and your organisation’s strategy and culture

  • Facilitating the process of defining effective objectives and KPIs

  • Designing a relevant and practical competency model with detailed behavioural indicators and rating scales

  • Change management / internal communication / upskilling on performance management matters for HR team and management

  • Support in configuring your HRIS and other tools o optimise processes and improve user experience

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Contact us

Oana Munteanu

Oana Munteanu

Director, Workforce Services Leaders, PwC Romania

Gabriela Batir

Gabriela Batir

Senior Manager, Workforce Consulting, PwC Romania

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