Total compensation and rewards

The current compensation models were introduced around 2004-2006 and it now makes sense to go back and review these principles. It is important to note that assessment of the efficiency and efficacy of our total compensation and reward models is an ongoing practice.

Expected outcomes of projects under the strategy of total compensation and rewards are:

  1. Approved total compensation principles to guide decision making
  2. Clear benchmarks for total compensation reviews
  3. Approved competitive market strategy for each employee group
  4. Alignment among existing working groups and teams ( e.g. pensions working group, benefits team)
  5. Report on specific strategies/ initiatives which will align with principles during the MYOB
  6. Guidelines for decentralized administrative practices