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- Compensation committee advisory services
- Compliance
- Transaction services
- Corporate governance
COMPANYS PROFILE:
Hay Group is a global management consulting firm that works with
leaders to transform strategy into
reality. We develop talent, organize people to be more effective
and motivate them to perform at theirbest. Their focus is on making
change happen and helping people and organizations realize
their
potential.
We have over 2,600 employees working in 84 offices in 48
countries. Their clients come from the
private, public and not-for-profit sectors, across every major
industry and represent diverse business
challenges. For over 60 years, they have been renowned for the
quality of their research and the
intellectual rigor of their work. We transform research into
actionable insights. they give their clients
breakthrough perspectives on their organization and we do it in
the most efficient way to achieve the
desired results.
MISSION STATEMENT:
Our focus is on making change happen and helping people and
organizations realize their potential.
BUSINESS STRATEGY:
They believe that business success is to ensure that employees
are correctively motivated, rewarded
and clearly aware of their contribution and the part it plays in
business strategy. Their business
strategies are:
- Market leadership
- Growth
- Sustainability
- Innovation
CULTURE AND VALUES:
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The Hay Group Global Code of Business Conduct and Ethics (the
Code) is the companys statement
of commitment to the highest standards of integrity and ethical
behavior.
Acting with integrity in all we do will serve all stakeholders
of the company, including their employees,
owners, clients, vendors and communities. The scope of the Code
is global. It applies to all Hay
Group employees, associates, independent contractors and
directors. Although the Code covers
many subjects, it is intended to provide general guidance.
Compliance has been a part of Hay Groups over 65 years of
existence.
Compliance is a very important company policy and one that is
directly related to our future success.
By establishing a culture of compliance, we may avoid undue risk
and potential liability, and maintain
and increase the value of the company. Monitoring compliance
helps us to improve quality of their
service and their relationships with clients and colleagues.
Hay Group is dedicated to not only achieving compliance with the
laws affecting our business, but
exceeding legal standards.
SERVICES:
Their services include:
- Leadership and talent
- Reward services
- Building effective organizations
- Employee effectiveness surveys
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QUESTION 2: CRITICAL ANALYSIS OF STRATEGIES AND SERVICES:
1. FREDERIC W. COOK & CO. INC.
Their competitive edge is that they make compensation systems
for Market stocks which really a
unique service as they provide custom design bonus plans, profit
sharing, long term performance
plans or transaction based incentives. The process generally
involves an in depth assessment of
business strategies and performance, identification of optimal
performance metrics that drive
sustainable performance, setting goals that are fair to
executives and key stakeholders and calibrating
pay with sustained performance. This typically includes:
- Benchmarking of competitive
- Performance metric selection and goal-setting
- Modeling of payout and performance scenarios
- Reward vehicle selection
- Accounting and economic cost analysis
- Comprehensive industry analysis
- Detailed absolute and relative performance assessments
- Customized business driver mapping
- Assessment of future growth value
Probability analysis for target setting and calibration. Their
services are really unique and hard to
imitate as they are focusing on every aspect of compensation
thats why it is hard to just consider one
strategy to make compensation system and to make its structure
as this company has high strategies
and services related to every single compensation element.
2. HAY GROUP:
Their services are those which support critical to maximize the
performance of the people of clients
firm by turning their strategy into reality and this is their
competitive edge. They got every solution to
the problems or challenges related to the following aspects:
- Capability assessment
- Leadership transformation
- Talent management
- Reward strategies
- Total reward framework
- Executive rewards
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- Job evaluation
- Reward information services
- Benefits
- Strategic performance management
- Work measurement
- Work alignment
- Work fit
- Work value
This firm focuses on individualism that it relates the strategy
of a firm with every single individual
working in it whether its an employer or an employee.
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QUESTION 3:
Based on the study I critically analyzed I will prefer to work
for Hay Group as they are individual
focused and they believe in upbringing of talent and innovation
as being a HR manager its a duty to
motivate every single individual of my company and to reward his
talent and innovation rather that
seeing the whole business or corporate.
