Maximising Your Return on Investment

Staff costs are usually the largest of an organisation’s fixed costs.  It is therefore essential to ensure that this substantial investment delivers the best value for your organisation. Some important questions to ask about your organisation in order to maximise your return on investment in employees:

Do you have a reward strategy and policies that support delivery of business objectives?
Alignment of reward with the business is key to ensuring that you get the best value out of your investment as it will help drive your business forward.

Are salaries competitive with the relevant market?
Paying too much will result in high costs and your business becoming uncompetitive, whereas paying too little will result in difficulties in recruiting and retaining good calibre people.

Are you able to recognise and reward those who contribute most to your business?
This will impact the attitude, engagement and motivation of employees.

Is the way you determine reward fair?
Failure to comply with equality legislation can result in significant costs in the event of an equal pay claim.

Are the benefits that you provide relevant to employees’ needs?
If benefits are not valued by your employees then the cost to the organisation of providing them is ‘dead’ money.