Total Rewards Design
Largest landowner and a leader in real estate development in Abu Dhabi required the best fit rewards strategy to remain competitive and to incentives performance
Situation
- Our client is a leading real estate developer in Abu Dhabi, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and the wider Middle East region
- From its beginnings to today, the company continues to shape and enhance the urban fabric of the UAE’s Capital City
- Dedicated to achieving new standards of innovation, excellence and value in urban design and sustainable development, our client’s priority is the immediate and future benefit of Abu Dhabi and its residents
Challenge
- The creation of the best fit total rewards strategy was required as a crucial success factor in making the overall business strategy a success
- As total rewards costs are a significant part of a company’s overall operating expenses, the client felt it could do a better job in creating a well balanced rewards strategy
- All elements of the company’s total rewards policy, including salary structure and incentives, required a practical framework that ensures that rewards are applied consistently across the organization for the maximum impact
- The critical requirement was the need to balance investments in the total rewards with the Return on Investment (ROI) in Human Capital
Action
- Before policies or rewards can be designed properly, costs have to be fully understood
- Agile Dynamics analyzed existing total rewards and evaluated the market competitiveness and alignment with the company’s goals to develop the best fit total rewards strategy
- Since total rewards involve multiple HR disciplines, Agile Dynamics expert team worked with the dedicated team of HR managers to build request competency levels across various fields, including strategic rewards, change management, communication, cost management, and IT
- Our goal was to ensure that HR managers can act as “conductors” to ensure the whole orchestra of specialties plays together and creates a “symphony of rewards and recognition” that sounds great and is perceived well
Result
- All businesses want to create the best possible products or services
- Some, like our client, also want to create value for shareholders, for employees, and for the customers they serve
- Our design approach to create the best fit rewards strategy allowed our client to connect employees to the value add activities of the business, leading to better results and value for all