How it Works
To support the effective design and operation of both short-term and long-term incentive plans we offer the following services:
- 1
Identification of performance criteria and metrics that allow for individual incentives to be aligned to organisational strategy and goals
- 2
Setting of award levels that are competitive and provide meaningful returns for achieving the desired objectives
- 3
Verification of performance measures
- 4
Risk assessment of design features of current incentives
- 5
Guidance on governance matters such as production of management information to assess achievement of targets, verification of this information, adjustments to objectives, sign-off of awards, etc
Our work on executive incentives will require a thorough understanding of organisational strategy and business goals.
This will involve both a desk-based review of relevant materials and interviews with the Chairs of the Board and the Remuneration Committee, the CEO and, potentially, other members of the executive team.
We will also inform our recommendations with historic payouts and performance metrics, Remuneration Committee minutes, and external market data.
Incentives form a significant part of overall pay for executives in many organisations. And rightfully so. The decisions and actions of senior leaders can significantly impact the performance of an organisation.
It is of vital importance to ensure that these incentives adequately reflect business priorities, drive the right behaviours and that there are appropriate processes and governance in place to ensure the correct operation of these incentive plans.
We can help.
Related Services
“3R provided a clear framework against which trustees and senior management at Local Trust could benchmark their approach to pay and reward, develop clear principles to underpin future plans, and communicate them effectively and transparently to both existing staff and potential new recruits.”
“We welcomed the approach articulated of being an extension of our HR & Organisational Development team and this reassured us that they would integrate themselves into the business and deliver recommendations tailored to our organisation.”
“I enjoy working with 3R Strategy as the team has such a breadth of experience across Reward. I think there is real benefit in the fact many of them have gained this experience in-house, in major global reward consultancies and now in a specialist boutique reward and recognition practice.”
“3R Strategy balances a calm, easygoing manner with the deep technical knowledge needed to design and deliver solutions that consistently meet the needs of our business. They have built relationships at all levels within the organisation and have a proven ability to influence others in a quiet but highly effective way.”
“It was a no brainer that we would work with 3R Strategy to support the roll out of a clear reward strategy. From our initial consultation call it was clear we wouldn’t need to squeeze into a set structure but the complexities of our business would be very much taken into account, to create something bespoke for the IOE&IT.”
“Their team demonstrated exceptional competence, deep industry knowledge, and a genuine commitment to our organisation’s success. They seamlessly integrated their expertise with our existing practices, ensuring the entire project was smooth and efficient. The project has provided our employees with clear pathways for growth and advancement and allowed us to be as transparent as possible.”
“3R Strategy has been helpful, diligent and professional. The biggest benefit to working with the team is that we now have one clear reward strategy in place. Having that clarity and visibility throughout the organisation will help us maintain great relationships with our employees.”
“3R Strategy continues to provide technical and pragmatic reward advice to Vitality. They have provided exceptional support in evaluating our business challenges and designing a project plan to meet our evolving needs.”