Reward Risk Assessment

Find the biggest opportunities to make reward more impactful

Why?

The effectiveness of a reward package depends on several factors, not just how much an organisation pays its employees.

Often, organisations can achieve higher satisfaction with reward – and overall employee engagement – without additional investment in the reward package itself.

What?

A reward risk assessment will help you to identify the areas you need to prioritise to avoid reward fuelling perceptions of unfairness, reducing motivation and retention of employees and, ultimately, affecting business performance. 

The Output Will Provide You With Evidence To:

Build a business case for change

Allocate resources to create the biggest impact

Shape your organisation’s reward plans

How it Works

We first conduct a series of diagnostic activities depending on your goals and budget.

Some clients only need an initial high-level review, whilst others look for a thorough in-depth assessment. We have the flexibility to adjust to your requirements.

These diagnostic activities can include:

  • A desk-based review of policy documentation and other relevant documentation
  • A discovery workshop with the HR team
  • Interviews with senior leaders, staff forum members and trade union representatives
  • Focus groups
  • Internal equity analysis

We then produce a risk and opportunities report covering:

  • An overview of main findings and priority areas.
  • Risks and options for change (as appropriate) for core aspects of reward including strategy and principles, grading, pay structure, hiring salaries, pay progression, allowances, incentives, recognition and benefits.

    Get in touch

    Name *

    Email *

    Company *

    Job Title *

    Message *

    Sign up to our monthly Pay & Reward Insights

    Related Services

    Benefits Review

    “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.”

    Matt Leach, CEO, Local Trust

    “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.”

    Amy Finck, Head of People Services, Institute of Export & International Trade

    “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.”

    Louise Frayne, Director of People, RCPCH

    “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.”

    Oli Gant, HR Director, Arriva Rail London

    “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.”

    Luke McClaran, Head of HR, Vitality

    “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.”

    Lorna Benton, Group Reward Director, RSA

    “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.”

    Tariq Ahmed, HR Director, London Business School

    “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.”

    John Athanasiou, Director of People, HarperCollins UK