Skip to main content
Solution Solution

Compensation Strategy and Design

Our combination of advice, data and software helps you create the best frameworks, make the right decisions and execute on your compensation strategy in an efficient and effective manner. We help you design compensation programs that meet evolving business needs and employee expectations.

Paying for what matters in the new world of work

The rapid transformation of the global workplace requires organizations to rethink how they compensate employees and create frameworks that enable them to attract and retain talent and optimize HR spend. They must simplify complex pay decisions and prioritize factors that include rewarding skills that help meet future objectives, compete effectively for coveted talent, recognize the growing global movement to establish gender pay equality and ensure that top performers are adequately rewarded for their contribution.

In today's challenging environment, how can you meet these disparate and imposing demands?

An impactful compensation strategy and design can place you in a position of strength and provide a clear vision of the future. But how do you get started? By taking an unvarnished look at your company's existing Total Rewards strategy and how it aligns to your organization's strategy and vision of the future, and then by designing a compensation program that delivers the right compensation to the right employee segments in the right way.

Getting compensation right starts with the right strategy

Incisive compensation strategy employs a creative, yet disciplined, approach to pay management, aligned to your Total Rewards strategy and talent value proposition and enables you to attract, retain and engage talent and drive the right behaviors.

Our approach and process sets the context using our metrics tools and analytics to:

  • Document your current plans and assess their effectiveness
  • Carry out a market analysis with industry and peer group analysis
  • Identify options and opportunities for change
  • Model the impact of change
  • Develop an effective change management and communication plan

The right compensation design for the right employee segments

With a strategy in place, together we can develop compensation plans that make sense for your organization and critical employee segments including executives and employees across four key elements.

  • Base pay
  • Short-term incentives (STI)/bonus pay
  • Long-term incentives (LTI)
  • Recognition and other programs

Supported by our robust compensation data, job leveling and architecture, and a framework that incorporates pay delivery, assessment and calibration, program governance and enabling technology, we help you get compensation right in the new world of work.

Why Willis Towers Watson?

Willis Towers Watson's unique combination of consulting expertise, data, analytics and software empower the design and implementation of tailored, cutting-edge compensation solutions to propel your organization forward.

  • Unparalleled analysis and insights

    Deep expertise across jobs, work, rewards and talent analytics

  • Communication expertise

    Award-winning communicators that excel in helping organizations navigate change and employees understand the value of their rewards

  • Market-leading data capabilities

    Market-leading data that enlightens decision makers by providing insights on compensation trends

  • Experience with fair pay analyses

    Over 30 years of experience conducting equal pay audits and fair pay analyses including gender pay gaps and solutions as well as crafting succession management and fair recruitment plans

  • Sales effectiveness and rewards

    Expertise to help you develop sales talent management and reward strategies that align with the unique growth needs of your business

  • Job leveling expertise

    Job evaluation and leveling tools and knowledge addresses essential business needs: attraction, engagement and retention of key talent; cost and risk management; and governance of reward and talent program delivery

  • Compensation software

    Interactive benchmark data, competitive benchmarking, global job leveling, compensation program design and robust reporting and analytics help you attract and retain the right employees while optimizing your compensation spend

Contact Us
2018 Getting Compensation Right Survey Results Preview

Related solutions


Related services

Online store

Need it now?

Check out our online store, The HR Trove, for advice, tips, tools and products from the HR experts you trust.