Reward Strategies in Professional Service Firms - How To Get It Right

Introduction

In today’s competitive market, the ability of a professional service firm to recruit and retain key people who can perform at high level is critical.

Aimed at people managers and HR, this webinar will assist you in understanding how to develop reward strategies designed to build your firm’s performance and competitive edge over rivals.

What You Will Learn

This webinar will cover the following:

• Understanding how competitive rewards are strategic and what they can mean to different people
• What are you trying to achieve? Evaluating whether a particular reward system will advance the business’ goals
• Choosing performance-based reward or seniority-based lockstep
• Which is best?
• What does a performance-based reward system look like?
• How to make the transition to performance-based reward
• Developing sufficiently broad criteria to cover a range of contributions
• How to fairly and objectively measure peoples’ contribution
• Measuring office/group contribution to create separate and additional ‘reward pots’ to reward partners/offices/groups
• Managing the processes involved to ensure a reward system is seen as fair and rewards the right people

This webinar was recorded on 22nd September 2021