Reach Potential

Like any organized approach to problem solving, the first step in compensation solutioning is a diagnostic study to measure the effectiveness of the current programs and structures. This involves analyzing the current compensation systems, whether on spreadsheets or tool based, understanding the capabilities of the current system and the organization requirements.
The diagnostic lays the path for the next steps for aligning pay philosophy with the organization strategy and the behaviors that the management wants to drive. In the process we also assist our clients establish and analyse peer group competitive benchmarking.
The final step in creating an effective compensation program is to have a system that is robust and can be administered by the organization on an ongoing basis. Our aim is to work together with the organization to upgrade to more sophisticated and user-friendly tools, training the managers to use these tools and establish a process of constant innovation and continuous improvement.

Ask any manager about his toughest ‘people’ task. Undoubtedly it would be communicating the annual compensation increment decision to his team members. This task can become tougher and meaningless without the right data and the appropriate communication that the management wants its managers to drive to the employees in the organization. Reach Potential focuses on a systematic approach in creating a messaging around the compensation packages in order to get the desired results and maximum value for every buck spent in the increment cycle.

The starting point for compensation planning of any compensation planning and budgeting exercise is to analyze the market and assess the compensation offered by key competitors. Reach Potential undertakes Salary Survey participation & benchmarking and provides a customized view to the management to understand the market. This is done through a mutual sharing of information amongst competitors while maintaining confidentiality through strict Non-disclosure agreement.

A total compensation philosophy not only addresses the cash components of employee reward but also the industry competitive benefits and wealth creation opportunities through ESOPs. With the focus on differentiating the total compensation package from competitors in the market and the tax laws becoming complex, this is a vital task in an HR manager's checklist.
Reach Potential helps its clients by undertaking turnkey assignments of benefit program design and administration including signing up and renewal of contract for insurance, advising clients on new products and benefits that would deliver value to employees while managing the cost for the employer.