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FUTURE MAP -
ASSESSMENT OF PAY PRACTICES
© The Bardot Group - 2014
What is Future Map ?
© 2014
2
¨  "Future Map" is a proprietary assessment of the
company's pay system and approaches.
¨ ...
Objectives of Future Map
© 2014
3
¨  The recommendations are proposed to make the HR
team think about what could be most ...
Step 1 : Discovery
© 2014
4
¨  A half-day to full-day meeting at the client’s premises
or other relevant site.
¨  Topics...
Details of data collection
© 2014
¨  HR policies and procedures and org chart
¨  Current salary ranges, allowances and b...
Step 2 : Assessment
© 2014
6
¨  I formulate an assessment of the pay system and
approaches
¤  Comparison to current best...
Step 3 : Recommendations
© 2014
7
¨  Presentation of the report focusing on analysis of
current situation and areas for f...
What’s covered
© 2014
8
¨  Salary structure approach vs reality of pay
¨  Internal equity
¨  Salary review process
¨  ...
What’s not covered
© 2014
9
¨  Performing or reviewing job descriptions, evaluations and job
grading
¨  Assessing extern...
Methodology and confidentiality
© 2014
10
¨  Your data is safe:
¤  Signature of a Non-Disclosure Agreement
¤  Data coll...
Workload and pricing
© 2014
11
Estimated duration : 2 days at company site + 2.5 to 3 days of
analysis work = 1 work week ...
Appendix
© 2014
12
¨  Sandrine Bardot :
¤  Profile
¤  Credentials
¨  Acceptance of proposal
¨  Payment Terms and Cond...
Your Rewards Advisor - In brief
Sandrine Bardot
Consultant, trainer,
speaker, blogger
Starting in 2007, set up the C&B
str...
Credentials
© 2014
14
¨  Set up and re-align Compensation & Benefits practices in complex,
multinational environments inc...
Current activity
© 2014
15
¨  Since May 2013, set up The Bardot Group, an
independent training and consulting company bas...
Acceptance of proposal
© 2014
16
¨  Acceptance of the proposal is defined as the following
3 cumulative conditions :
1.  ...
Payment terms and conditions
© 2014
17
¨  Payment is due :
¤  Before start date by transfer to the bank account provided...
Disclaimer
© 2014
18
¨  This document is not a formal offer of services or
bid for work, and is provided for reference
pu...
Thank you !
Sandrine Bardot
Consultant, trainer,
speaker, blogger
+971 526 414 388
Sandrine@Compensationinsider.com
250+ f...
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Future Map - a proprietary assessment of your pay systems and approaches

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Future Map is a proprietary assessment of the company's pay system and approaches.
I have designed a specific way of getting a fast understanding of a company's compensation approaches, how they align with the current and expected business situation, and of producing some ideas of what could be done to provide an even tighter support to the organisation.

3 easy steps for a fast turnaround giving you ideas for establishing priorities in the HR/Total Rewards department or for evaluating progress on some current or past C&B projects.

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Transcript of "Future Map - a proprietary assessment of your pay systems and approaches"

  1. 1. FUTURE MAP - ASSESSMENT OF PAY PRACTICES © The Bardot Group - 2014
  2. 2. What is Future Map ? © 2014 2 ¨  "Future Map" is a proprietary assessment of the company's pay system and approaches. ¨  I have designed a specific way of getting a fast understanding of a company's compensation approaches, how they align with the current and expected business situation, and of producing some ideas of what could be done to provide an even tighter support to the organisation. ¨  The whole exercise is undertaken in 3 steps.
  3. 3. Objectives of Future Map © 2014 3 ¨  The recommendations are proposed to make the HR team think about what could be most beneficial for the company given its specific time, resource and budget constraints. ¨  The recommendations are meant as food for thought and serve as a basis for internal discussion within HR, for establishing priorities for the HR/C&B department, or for evaluating progress on some current or past projects.
  4. 4. Step 1 : Discovery © 2014 4 ¨  A half-day to full-day meeting at the client’s premises or other relevant site. ¨  Topics covered : ¤  Current situation and challenges in the business and HR ¤  Data collection (see next page) ¨  Attendees : ¤  HR Director ¤  Head of Compensation & Benefits ¤  Any other relevant person
  5. 5. Details of data collection © 2014 ¨  HR policies and procedures and org chart ¨  Current salary ranges, allowances and benefits documentation ¨  Any formal communication sent to employees about : changes to allowances or benefits, salary increases , bonus payment etc ¨  Extract from payroll in Excel format ¨  Employee turnover information in your format + Excel format ¨  Last year’s merit matrix and/or principles for managing merit increases and promotions. ¨  Any relevant document regarding the most recent salary reviews, budget, matrix, potential promotions….
  6. 6. Step 2 : Assessment © 2014 6 ¨  I formulate an assessment of the pay system and approaches ¤  Comparison to current best practices ¤  Evaluation of how they support the identified business needs. ¤  Identification of potential gaps ¤  Formulation of recommendations : n  Quick wins n  Long-term proposals
  7. 7. Step 3 : Recommendations © 2014 7 ¨  Presentation of the report focusing on analysis of current situation and areas for future improvement, for example the abandonment or introduction of allowances and benefits. ¨  The discussion may lead to some amendments in the assessment report. ¨  Presentation of the results of this audit to the Executive Committee or the Board.
  8. 8. What’s covered © 2014 8 ¨  Salary structure approach vs reality of pay ¨  Internal equity ¨  Salary review process ¨  Performance management approach ¨  Incentives (bonus) and link to performance ¨  Compensation & Benefits philosophy and policies + org chart ¨  Communication approaches (governance)
  9. 9. What’s not covered © 2014 9 ¨  Performing or reviewing job descriptions, evaluations and job grading ¨  Assessing external pay competitiveness (how do you pay compared to market) ¨  Establishing or updating your salary bands based on salary survey results ¨  An audit of your benefits (health, pension, life cover...) ¨  The report is a roadmap to prospective developments and so it does not include business cases for the implementation of all or part of the recommendations, nor the project plans for such recommendations.
  10. 10. Methodology and confidentiality © 2014 10 ¨  Your data is safe: ¤  Signature of a Non-Disclosure Agreement ¤  Data collected does not include names of employees ¨  I provide the Excel templates for the data collection and it’s very important that the format is not changed. ¨  The methodology is proprietary and based on my experience of leading Compensation teams covering multiple industries and countries.
  11. 11. Workload and pricing © 2014 11 Estimated duration : 2 days at company site + 2.5 to 3 days of analysis work = 1 work week (Time between launch meeting and presentation to Executive Leadership will vary based on scheduling constraints) This service is priced at a very competitive AED 20,000 (5,500 USD) including : ¤  Initial meeting with HR ¤  Analysis of the data and qualitative information collected ¤  Assessment of the potential gap to optimal support of the business goals ¤  Production of the recommendations ¤  Second meeting with HR to present the results and recommendations ¤  Presentation meeting to senior management.
  12. 12. Appendix © 2014 12 ¨  Sandrine Bardot : ¤  Profile ¤  Credentials ¨  Acceptance of proposal ¨  Payment Terms and Conditions ¨  Disclaimer ¨  Contact information
  13. 13. Your Rewards Advisor - In brief Sandrine Bardot Consultant, trainer, speaker, blogger Starting in 2007, set up the C&B structure globally at Majid Al Futtaim then Mubadala. Over 19 years of corporate HR experience focused on International Compensation & Benefits (Microsoft, Apple, Fiat, France Telecom, Philips, EADS) before becoming independent. Areas of expertise : ¨  Performance Management Systems, ¨  Pay and Grading philosophy and structures, ¨  Short term, Long term and Sales incentive plan design, ¨  Relations with Board and top team, ¨  Setting up, managing and motivating the Performance & Reward team.© 2014 13
  14. 14. Credentials © 2014 14 ¨  Set up and re-align Compensation & Benefits practices in complex, multinational environments including greenfield and unionised (create or adapt Rewards philosophy, set up and up-skill team), ¨  Design performance management and global mobility programs, ¨  (Re) design of short and long term incentives for multiple organisations in EMEA, ¨  Participate to Compensation Committees both as a company representative and as an advisor to the Board, ¨  Embed Recognition, Rewards and Retention approaches into emiratisation / nationalisation campaigns, ¨  Work on pre- and post merger multinational integration (Microsoft, Apple and Philips), and due diligence for a dual-market IPO UAE/UK.
  15. 15. Current activity © 2014 15 ¨  Since May 2013, set up The Bardot Group, an independent training and consulting company based in Dubai. ¤  Traditional consulting ¤  Coaching in C&B (specific 5 or 10-hour packages) ¤  Training in Total Rewards ¤  Speaker at multiple international conferences ¤  Author of the first and only C&B blog in the Middle East (over 250 articles to date). ¨  Currently working on designing Reward trainings focused on innovative delivery and interaction.
  16. 16. Acceptance of proposal © 2014 16 ¨  Acceptance of the proposal is defined as the following 3 cumulative conditions : 1.  The Bardot Group issues a Letter of Services which is approved by an authorised representative of the client and forms the contract between the parties, 2.  Both parties sign the Non Disclosure Agreement 3.  Proof of payment has been provided by the client (see Payment Terms and Conditions)
  17. 17. Payment terms and conditions © 2014 17 ¨  Payment is due : ¤  Before start date by transfer to the bank account provided by The Bardot Group ¤  Or at the latest, in cash on the first day of the assignment. ¨  Proof of payment (eg : copy of instructions to the client’s bank) has to be provided by the first day of the assessment.
  18. 18. Disclaimer © 2014 18 ¨  This document is not a formal offer of services or bid for work, and is provided for reference purposes only. In particular, the fees, method of approach and expected duration of the project might vary once a final document is produced. ¨  Should the parties decide to continue the discussion, a formal letter of services will be issued by The Bardot Group, with binding Terms and Conditions that, once agreed and signed by both parties, will form the basis of the contract between the client and The Bardot Group.
  19. 19. Thank you ! Sandrine Bardot Consultant, trainer, speaker, blogger +971 526 414 388 Sandrine@Compensationinsider.com 250+ free articles on C&B ! Subscribe at : http://CompensationInsider.com Check my profile on LinkedIn for Recommendations, Expertise and free presentations. Twitter : @CompInsider© 2014 19
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