In an increasingly competitive global workplace, employers are rightly conscious of the need to recruit, retain and motivate the “right” people – those who will help drive forward the business and assist the company in meeting its objectives.

To assist them, companies have recourse to an armoury of ever more sophisticated reward strategies which may include share options, share award plans, performance-related bonuses, conditional commission and so-called “flexible” benefits (ie the ability for individuals to devise their own tailored reward package by choosing from a “menu” of alternatives on offer).

When considering its remuneration strategy a company will generally benefit from a holistic approach, acknowledging the inter-dependence of constituent parts of the reward package and also the fact that one size will not always fit all.

Ultimately, however, the end result should be to align the interests of employees with those of shareholders by looking to: 

• Inspire performance
• Recognise endeavour
• Encourage loyalty and
• Reward success.