Rewarding Employee Recognition Project For Côte Restaurants

THE BRIEF

To conduct a full ‘Root & Branch’ review of Côte reward and benefits and provide recommendations for change to the Chief People Officer and Côte Board.

The current remuneration landscape is not holistic and there is no framework in place. Some reward policies have been in place historically and changing them could lead to unintended consequences.

Main challenges:

  • They do not have a reward framework in place and a full review is needed
  • Employees are rewarded differently depending on positions
  • Tronc Scheme distribution


To review all of the elements outlined in the diagram below:

 

 

THE SOLUTION

To design and create the project scope, plan and deliverables, as follows:

What works and doesn't work with the current remuneration landscape?

 

Ingest and review insights from Côte data.

 

 

  • Current reward framework and composition and what isn’t working

  • Strategic - does the current reward structure support Côte's goals and strategic priorities?

  • Structural - does the current reward structure support the retention, motivation & attraction of Côte employees and top talent (STI / benefits & recognition) if not, why not.

  • Market review - what are other companies doing to address remuneration challenges from an innovative context?

  • Financial - are Côte getting the right value for money from the current remuneration spend, if not, why not

 

What does Côte want from the remuneration structure?

 

Reward principles

 

Strategic goals

  • What should the key reward design principles - against which a remuneration structure should be assessed?

  • To discover and fully understand group reward practices in relation to being consistent with internal philosophy – philosophy TBD.

  • To develop a market comparison of reward and benefit designs from our agreed benchmark group and conduct comparative effectiveness of our structure against competitors

 

Market review and benchmarking

 

  • To identify opportunities to update the current total compensation model, extending to considering the pros and cons of alternative and potentially superior approaches – how should we change our structure to enhance the effectiveness of reward elements

 

RECOMMENDATIONS FOR CHANGE

  • Philosophy, frameworks, schemes, components, policy & practice

  • Design of straw man remuneration frameworks and assessment against design principles and what employees want.

  • How will any change to reward support Côte's goals and strategic objectives over the medium to long term (STI / LTI / benefits & recognition)?

  • To define the recommended future reward strategy, in terms of overall guiding principles, the reward framework and future policies and procedures

  • Benefits provision (capturing plan design and financing)

 

“With the help of LOA we now have a reward and benefits strategy and plan that will allow us to attract, motivate and secure long term employees to our business that will help us achieve our long term goals."

Amy Sawbridge, Chief People Officer, Côte.

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