Reward is about designing and implementing strategies that ensure workers are rewarded in line with the organisational context and culture, relative to the external market environment.
It requires specific knowledge in a range of specialist areas to be able to create and shape total reward packages. This may include:
- Executive reward
- International reward
- Pay and benefits modelling.
Reward specialists will need a deep understanding different approaches to reward and benefits packages, and how to ensure that approaches are in line with relevant legislation, as well as the links to organisation and individual performance. You’ll also need to know practical elements such as how to benchmark salaries and determine pay based on external market factors such as scarce skills.
Each standard progresses through four levels of impact. Which level do you most embody in your day-to-day work?
More on this topic - resources to guide your work, career planning and development
Next: Talent management
Ensuring the relationship between an organisation and its people is managed through transparent practices and relevant law
Tackling barriers to work today whilst creating inclusive workplaces of tomorrow.
Join us to connect and learn on 7-8 June at Olympia, London
Explore our related content
This quarterly survey is one of the most authoritative employment indicators in the UK and provides forward-looking labour market data and analysis on employers’ recruitment, redundancy and pay intentions
Episode 194: Understanding the benefits, pitfalls and challenges of increasing pay transparency and the broader impact on global organisations
This guide explains in-work poverty, its effects and what employers can do to help
Matt Burney of Indeed outlines three potential drivers to shape how and why people work in future, and what these would mean for work-life balance and employee empowerment
Make the most of the Profession Map
The Profession Map is for everyone in our profession – individuals and teams, members and non-members. Learn more about the Profession Map and how you can use it.
Explore the purpose, values, knowledge and behaviours at the heart of our profession
Find your current level of knowledge and experience and the next step in your career