How it Works
The first step is to make sure our team is on the same page as the Chairs of the Board and the Remuneration Committee.
We’ll want to discuss things like:
- How involved they want us to be
- What items should be top priority on the agenda
- If there are any sensitive issues we should be aware of
- Relevant background info
We’ll ask for documents like:
- Remuneration Committee’s guidelines
- Recent meeting notes
- Details on executive compensation, and any other pertinent materials
This will help us fully understand the bigger picture and how things currently operate, so we can be properly prepared for each meeting.
In advance of meetings we may also ask (or be available) to discuss certain matters with individual Committee members or senior leaders.
Having agreed on expectations, we will come prepared to discuss the relevant agenda items, and provide guidance and challenge as appropriate on matters such as:
- Pay review for executives
- Hiring salaries for senior candidates
- Incentive design
- Review of incentive parameters and performance measures
- Executive benefits
- Market trends
We will then action any agreed follow up items where our input or recommendations are required, engaging with key stakeholders as appropriate.
Related Services
“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.”
“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.”
“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 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.”
“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.”
“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.”