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HR (or Total Rewards) Planning

What is your plan for the coming year? Or do your priorities somehow cascade down in the form of crude cost cutting mandates and “fix this problem” requests to make a key executive happy? I will work with you and your leaders to develop an evidence-based, business/talent-aligned HR or rewards strategy that will demonstrate the capacity of the your function to add value.

I will meet with you and your leaders to plan and facilitate a process to establish a specific strategy and objectives, as part of your annual planning and budgeting cycle. My approach is inclusive, educational and facilitative to build your team’s planning skills and business savvy, because they will have to defend their plans. It is based on years of experience planning rewards initiatives in my roles as global head of rewards or regional (Asia) head of rewards, as well as my involvement with many consulting clients over the years in their planning cycles.

Planning approach involves the following steps, which can be tailored to your needs to minimise time/cost:

Current State Review

  • Defining the context for planning by understanding business and talent challenges
  • Confidential online stakeholder survey, focus groups or stakeholder interviews (10-12 questions)
  • Review of engagement or other feedback scores/evidence
  • Review of current and future workforce demographics (discussion with HR/recruiting, etc.)
  • Review of existing benchmarking or other evidence on compensation and benefits levels/mix, provided by client
  • Present summary of above to HRLT or planning team (Finance participation suggested)
  • Get feedback from planning team and draft Current State summary and suggested Areas of Focus (up to 10)

Planning

  • For each Area of Focus, work with assigned lead to plan suggested Action Plan for coming year (one 1-hour meeting for each area of focus)
  • Regather planning team for sharing of suggested Action Plans, and identify those with best cost/benefit potential
  • Continued development of 3 to 5 selected Key Initiatives for coming year, including purpose, outcomes, measures, steps, stakeholders, resource requirements, risks and proposed core team
  • Final meeting of planning team with presentation (by internal lead) on selected Initiatives
  • Facilitation of KPO setting including head of C&B/rewards and 2 levels down (max 10 people)
  • Plan next steps for internal approvals and general communication planning

Planning tools/methods used will include:

  • Online survey tool (provided by Freelance Total Rewards)
  • RACI chart (to identify which stakeholders are Responsible, Accountable, Consulted or Informed)
  • Word, Excel and PowerPoint as needed; all documents included in deliverables in editable form, not PDF

Deliverables include:

  • Online Stakeholder Survey Report
  • Current State Summary and Suggested Areas of Focus–Written Report and PowerPoint presentation
  • Proposed Action Plan for coming year with 1-2 page summary per Key Initiative (up to 5) , with backup detailing the initiative, purpose, outcomes, measures, steps, stakeholders, resource requirements, risks and proposed core team. This will be a CEO-quality document, designed to be submitted with the coming year’s budget request.

Fees and Timing

Timing will correspond to your company’s annual business/HR planning cycle, but is generally spread over 2 months

Fee is a flat S$18,000 but the approach and fees can be adjusted to match your needs.

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