REWARD TEAM RESTRUCTURE AND ENHANCED MARKET MAPPING

Over the last six months here at MBHRN we have been working with three FTSE 30 organisations and one in the FTSE 250 to help restructure their global Reward teams, identify and engage with the talent in the senior reward space and in some cases appoint new practitioners to their reward leadership teams.

I wanted to share some of the detail of that with you in case it struck a chord.

The seismic societal shift that covid-19 has delivered has led many organisations to consider a commensurate transformation to both their reward team’s structure and its strategic capability and focus to support new ways of living.

The work has been varied in scope across the clients however has involved some or all of the following elements:

1)     Redesigning the entire reward team structure itself, looking at aligning it to the expectations and desires of the talent market to facilitate future recruitment and providing clear career development paths within to enhance engagement and progression through the organisation.

2)     Enhanced market mapping identifies and presents names in the traditional sense of a market map but goes much further, gauging interest in the organisation as a whole, getting a feel for the Reward fraternity’s perception of them as an employer and providing highly targeted contemporaneous benchmarking data for some or all of the roles within the current or new structure.

3)     Search consultancy to fill any vacancies that have been identified within the new structure and in light of the available talent as highlighted by the enhanced market mapping process.

The reaction from the candidate pool to this structured, progressive, strategic recruitment activity has been exceptionally positive.

People are drawn to organisations that are nimble enough to adapt to the changing requirements of the talent market and this process identifies you as such. There has been palpable increased engagement in the early part of the process from those candidates. These organisations are now more visible, more identifiable, more relatable to the market than before which increases the size of the interested talent pool and will facilitate future recruitment activity into the team.

We have worked with teams ranging from ten individuals to north of 200 and while naturally the approach is tailored to your organisation’s specific requirements the benefits and results are absolutely comparable.

Should you be right at the beginning of this process or halfway through MBHRN would be delighted to support. If you’d like to discuss how this might work for your unique situation please feel free to make contact – [email protected] and we can take it from there.