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Remuneration Design Insights

A Framework for Constructive Debate

Reflecting upon our previous experiences around reward design and management, we have a strong appreciation of what works (and what does not) when constructing reward and remuneration models.

At Fishtank we draw a comparison between what we tend to see with prospective clients and our approach. In the first instance we observe a complex circular and conceptual debate (which can often span a number of years). In contrast our approach is one of structured progression and understanding.

The objective of our approach is primarily to evolve the ‘Strawman’ discussion of a potential new Reward plan as requested. In conjunction, we use the underlying data to generate multiple iterations of scenarios to explore issues and drive out a shared organisational understanding.

Typical Design Stages

Deliverables

The Fishtank approach produces the following key deliverables:

• Executive Committee validated Reward ‘Strawman’, inclusive of:

– Compelling argument around need to implement new Remuneration and Reward Plan
– Critical success factors and key behavioral considerations
– Key ‘value’ driver(s) underlying proposed Reward Plan
– Key features of Reward Plan
– Proposed scope, and application of Reward Plan
– Key transition/ change management considerations

• Modelling of anticipated financial outcomes generated from Reward ‘Strawman’, including:

– Comparison to historical results from existing plans
– Projected outcomes utilising alternative reward ‘configuration’ scenarios
– Projected outcomes utilising alternative ‘sales forecast’ scenarios

• Project facilitation, key stakeholder mapping, and documentation of evolving organisation discussion around a new Reward proposal

Reward Review