Does your approach to reward stand up to scrutiny?
PwC rated as an ALM Intelligence Vanguard Leader for Compensation Consulting
The way in which organisations reward their people is coming under increasing scrutiny from a range of stakeholders. Globally, governments are turning their focus to the gender pay gap, with a growing realisation that there are significant economic benefits from realising the full potential of women in the workforce. Similarly, questions are being raised over the ethics and fairness of senior executive pay, with shareholders frequently using their power to block remuneration packages they view as excessive.
For an organisation, it’s essential that they create a practical, evidence based strategy for rewarding their people and incorporate the wealth of data generated by the HR systems. Combining their reward capability with their overall business strategy and considering the relationship between pensions, leadership and performance management is essential to being successful in the ever evolving and competitive world of employee compensation.
Scott Olsen, PwC’s global Reward and Benefits leader, said:
“Reward is one of the largest areas of spending for organisations and getting it right means ensuring that you understand the local and global trends that impact the people you employ. It’s not always about the money, as 59% of CEOs think that talented people choose societal values over pay - therefore organisations need to ensure they align their reward strategy with their approach to recruitment, retention and employee experience”
ALM Intelligence, one of the leading research organisations for management, financial and IT consulting, has named PwC as a Vanguard Leader for Compensation consulting.
Liz DeVito, associate director and leader for human resource consulting research, ALM Intelligence, and author of the report, noted that PwC provides a comprehensive compensation advisory services through a multidisciplinary team of specialists. She commented further:
“PwC owes its leader status to a relentless emphasis on clients’ needs in a complex market, where compensation strategies are increasingly shaped by global forces. The firm is continually evolving its service offering and portfolio of rewards methodologies and tools to deliver practical, data driven solutions. These solutions are further integrated across the People and Organisation service offering, a move that finds PwC at the forefront of elevating compensation management to a business intelligence function.”
PwC’s approach to compensation philosophy and strategy design is informed by primary and secondary academic research on market trends and C-suite sentiment surveys (particularly the firm’s annual CEO Survey). With these capabilities and resources, PwC helps clients evolve their compensation management operating model to a level of maturity where carefully designed government frameworks can bridge the gap between compensation strategy and the practicalities of implementation.
Scott Olsen added:
“We’re delighted to be recognised as an ALM Intelligence Vanguard Leader for Compensation consulting and proud to be assisting our clients deal with the impact of global and local remuneration trends through People and Organisation’s multidisciplinary team of rewards and human capital consultants, accountants, actuaries, lawyers and tax professionals.”
*ALM Intelligence, formerly Kennedy Consulting Research & Advisory.
1. For more information about how PwC helps its clients with Reward and Benefits visit www.pwc.com/people and PwC’s 19th CEO Survey - People and purpose: Talent Strategy in an unpredictable world http://www.pwc.com/peopleandpurpose
2. To find out more about how PwC has been evaluated by leading business, technology and industry analysts visit www.pwc.com/analystviews
3. PwC’s 20th CEO Survey is available by visiting www.pwc.com/ceosurvey
4. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com
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Robert DonnellyPwC Global Analyst RelationsUnited Statesrobert.email@example.com+1 917 471 3355