Australian organisations spend an estimated $600 billion on providing reward programs for employees. However, Aon Hewitt estimates that less than six in ten Australian employees are actively engaged at work. There is a clear opportunity for organisations to increase the return on their reward investment by understanding employee reward preferences, and having a clear strategy to link reward outcomes with business and employee needs.
Increase the return on your reward investment
Aon Hewitt's consultants help design or review your organisation's remuneration strategy to ensure it aligns with your HR and business objectives.
We can help you address a full spectrum of issues through a well-constructed rewards delivery including:
- target competitive positioning
- the link between pay and performance
- transparency in communication
- consistency across employee groups
- ensuring the commercial viability of your reward structure across market cycles
- understanding what role your recognition program should play in your total rewards strategy.
We help you develop a total rewards framework that ensures that your benefits programs truly differentiate you from your competitors, and reflect what your organisation stands for.
Implement structure and systems to maximise efficiency
Aon Hewitt consultants have extensive experience across industry sectors, combined with unparalleled insights driven by our proprietary remuneration data. The most comprehensive data set within Australia. With this unique combination of knowledge, we can determine your organisation's current remuneration market position, identify target markets and positions and establish the optimal mix of base salary, benefits and performance pay for your employee packages.
We can also help you to accurately understand your workforce’s preferences regarding rewards – not only what employees say they’d like more of, but what they’d trade-off in order to get it. Our proprietary Total Rewards Optimiser (TRO) solution can evaluate alternative reward structures to determine the optimal outcomes for you – providing a roadmap to increase your organisation’s engagement for the same or lower cost.
Develop, review and communicate policies
Policies are the link between your rewards strategy and how your managers actually implement rewards. Our consultants can assist with the development, review and communication of policies for all elements of remuneration, including remuneration policy for mergers and acquisitions and for employee retention.
We can also help with policies for all types of employee benefits including motor vehicles, leave, relocation, shift arrangements, on-call/call-out arrangements, overtime arrangements, other FBT-able benefits, FBT-exempt benefits and benefits that are not costed to employees' packages.