Traditionally, rewards programs have been restricted to financial compensation provided to employees in return for their services. However, this is changing due to the evolving preferences and needs of today’s diverse workforce.
Today, people are not just looking for a well-paid job but also for purpose, relationships, flexibility, fairness and a personalized experience – along with career and learning opportunities. Because of this, to attract and retain top talent, organizations must re-evaluate their rewards strategies to ensure they reflect diverse expectations and promote equity and transparency.
At KPMG Luxembourg, our Total Rewards offerings are designed to guide the transition from ‘conventional’ to ‘outstanding’ employers, with strategies fit for today’s needs and tomorrow’s regulations.
Through our rewards offerings, we aim to align your Total Rewards strategy with your business objectives, employee needs, compliance requirements, and global best practices.
We will leverage our extensive repository of global best practices for job descriptions to build targeted and market-relevant roles and responsibilities in alignment with your organization’s requirements. This foundational step also contributes to building fair and transparent internal structures.
Our sKale job evaluation methodology is a robust and structured tool used to determine the relative worth of roles. It enables the creation of a transparent and equitable grading structure which will serve as a reference for strategic decisions related to career development, performance management and pay management.
Our remuneration survey compares salary data from the market to create insightful reports that guide compensation strategies. It supports pay equity, aligns with the Pay Transparency Directive, and helps promote fairness and compliance.
Our experts can conduct a salary and benefits analysis (leaves, education allowance, medical insurance, etc.) benchmarking against your competitors and global best practices to articulate and design a competitive rewards strategy for your organization.
Our professionals can benchmark and design executive compensation based on a deep understanding of the local and regional markets, global practices, and your objectives for driving retention and a high-performance culture.
Our experts use gap analysis, external benchmarking, and impact analysis to identify innovative and effective ways to assess performance and design relevant KPIs that can contribute to your organization’s business strategy.
Our in-house industry leaders can advise and design strategic long-term plans to link executive goals and pay with your organization’s business goals and long-term plans. Due to the vast possibilities and considerations that must be taken into account when structuring an LTIP, our expert team regroups corporate and personal tax experts, as well as legal experts. Any LTIP shall be designed by our experts in a manner that considers the most appropriate and desired tax outcomes, while, where applicable, ensuring compliance with the relevant regulations.
Our experts can design a suite of STIP solutions across bonus plans, sales incentive plans and sales commission plans. This is done in alignment with your organization’s business objectives, pay strategy and market considerations to foster a culture of “pay for performance” while also ensuring fairness and transparency. Any STIP shall be designed by our experts in a manner that considers the most appropriate and desired tax outcomes, while, where applicable, ensuring compliance with the relevant regulations.
We advise, review and design remuneration policies to comply with the regulatory remuneration requirements under respective regulatory frameworks (CRD, UCITS, AIFMD, Solvency, IFD, etc.). Furthermore, and considering our vast expertise in benchmarking as well as job grading, we support pay equity and the implementation of the Pay Transparency Directive, to help ensure compliance and fairness in pay practices.
Our rewards experts present innovative ideas and techniques to help you implemenct strategies that emphasize the impact of employees’ goals and objectives on your organization’s overall strategy, highlighting the link between performance and pay.
We combine our multi-disciplinary approach with deep, practical industry knowledge to help you meet challenges and seize opportunities. Connect with our team today to start the conversation.
