The development of a database of global pay and benefits underpins a business integration exercise and provides the basis for managing and streamlining reward structures in the future.
As part of an international business integration project, the client, a global financial services business, needed to build an international database of pay and benefit within a short timeframe. Working with the client, Yellow Hat helped to identify a suitable third-party database for capturing this information, and prepared and presented the business case to gain the senior team’s agreement to the project.
To do this, Yellow Hat coordinated a small central team to gather salary and benefit information for each country in scope. The first stage was a thorough review of all available policy documentation on benefits and salary structures in the in-scope countries. Members of the project team then held a series of telephone conference calls with country HR teams, working through a pre-prepared and structured list of questions to ensure that the information was comprehensive and consistent for each country. The team also used the calls to clarify questions that had arisen from the review of documentation, and to access additional or more up-to-date documents where appropriate. A summary of each call was sent to the relevant HR country contact for checking, prior to data being keyed into the benefits database.
The exercise was completed over a period of weeks, within the timescale set by the client. A number of opportunities to harmonise benefits and streamline policies in specific locations were identified as a direct result of this work. In addition, the client was left with a comprehensively-populated database providing the basis for driving through global pay and benefit strategies, as well as a resource for managing reward costs and identifying opportunities for further streamlining in future.