REBA Thought Leaders: How to work with your board on reward
Working with your board on reward is about not only developing appropriate and innovative solutions but knowing what is coming over the horizon and preparing the board for that, according to Linda Kennedy-McCarthy, group HR director, SIG Group
Watch Linda Kennedy-McCarthy's interview in full.
She says that boards look to reward specialists for a number of things. "They are looking for you to have the company's best interests at heart. Secondly they are concerned about things that will be hot topics for the board such as gender pay gap," she says. That means reward specialists must know positioning, what the competition is doing and benchmarks and trends.
But she says how reward specialists talk to the board is also crucial. "Key is talking the business language, discussing how reward can drive value or reduce cost is a great starting point. Look at retention statistics, employment engagement scores and consider the role that reward plays in those," she says.
However it's not just about statistics, she says. "Having the right level of data and using it just doesn't mean facts and figures sometimes it can be insights given by your employees."
Kennedy-McCarthy will be speaking at the 2017 REBA Innovation Day taking place on 23 November in London. To hear more from her and other expert speakers, reserve your place today.
You can view the 2017 Innovation Day programme to see who else is speaking and register to attend. (REBA Professional Members attend for free, simply use the promotional code provided at the end of the film).
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