The South African Reward Association (SARA), the registered professional body for the reward industry, held its annual Reward Awards ceremony on 5 November 2016. The event honours Reward Professionals and teams who have designed and implemented reward and remuneration programmes and practices that made an outstanding contribution to their organisation's strategic objectives and promoted their respective organisations as “employers of choice”.
 
“We live in a society that seeks equity and an economy that demands cost savings whilst driving performance outputs and productivity. To satisfy these demands, various ethical, compliance and strategic imperatives have evolved, making modern reward and remuneration practices a complex matter that many organisations struggle to master,” said Master Reward Specialist Peet Kruger, Chairperson of SARA’s Reward Awards and Conference Committee. “Those who excel in this critical area of business must be recognised and acknowledged appropriately, which is what the SARA Reward Awards is all about.”
 
“The awards not only encourage Reward professionals and specialists to excel, but also promote awareness of the excellence and standards that organisations should strive for in the management of total reward,” said Kruger.
 
The Reward Project of the Year Award consists of a 1st, 2nd and 3rd prize presented to the winning nominees.
 
The Remuneration Report award is presented to a company for exemplary implementation of the King III governance requirements for executive remuneration. “There’s often a negative perception of executive remuneration in the media,” reported Kruger. “So it's important to recognise companies who have taken significant steps to restore public confidence.”
 
Finally, a special President's Award honours outstanding achievement in the field of reward.

Ronel not only led SARA as President from 2004 to 2006; she also spearheaded the project of applying for and acquiring professional status for the Association, which was granted in January 2013 by the SA Qualifications Authority (SAQA). Ronel also participated actively in the development of the Remuneration Practice Notes of the King Code of Corporate Governance and has implemented many market leading reward projects at Nedbank and Sasol.

​ENDS
 
MEDIA CONTACT: Cathlen Fourie, 082 222 9198, [email protected], www.atthatpoint.co.za 
 
For more information on SARA please visit:
Website: www.sara.co.za 
Twitter: @SA_reward
LinkedIn: South African Reward Association
Facebook: SARA – South African Reward Association

While executive pay continues to make headlines, companies that use a Total Reward strategy to guide and inform remuneration decisions and practices will soon be awarded top honours by the South African Reward Association (SARA). The awards encourage and promote the development and improvement of total reward practices in South Africa.
 
What is Total Reward and how does it affect me?
“Total Reward includes everything valuable to an employee in relation to his/her employment, including salary, benefits and their experience of their workplace,” says Peet Kruger, executive committee member of SARA, a professional body that promotes and develops the reward profession and practices in South Africa.
 
“Reward professionals ensure that an employer does everything it can to attract, inspire and retain the best possible workforce, while still increasing profits year on year,” says Kruger. “The annual Reward Awards aim to recognise thought leaders that make a noticeable impact to business through reward strategies and practices that deliver business results and support the objectives or the organisation.”
 
Why South African businesses need to take note
Award winners represent the top of the reward game amongst their peers, and represent what each organisation should be aiming for and doing when it comes to adding the necessary value for their organisations to remain competitive and successful in today’s competitive business environment. The criteria allow an organisation to focus on what traits good reward practices should embody. 2015 winners included reward specialists from Standard Bank (Africa) Pty Ltd, MTN, Aveng and Siemens.
 
Entries are invited annually and judged independently by various experts in the reward industry, using criteria relevant to each award.  Entries for the 2016 awards are now open until 17 August, with the winners being announced on 4 November 2016 in Midrand at the SARA Reward Awards Banquet, sponsored by 21st Century, Remuneration Consultants, and Synntech People Solutions.
 
The three award categories recognise reward professionals, teams and organisations that have lead the way in promoting and developing the reward profession.
 
Remuneration Report of the Year Award
This award recognises organisations that demonstrate reporting and disclosure of the company’s remuneration philosophy and its application as stipulated by legislative requirements and corporate governance principles.
 
The judging panel will also consider established commitments to best practice, and how the company’s approach to remuneration supports the business strategy and aligns the interests of its stakeholders.
 
Reward Project of the Year Award
This award recognises an individual or team for the development and implementation of a reward project that uses reward practices and principles in a manner that contributes significantly towards the achievement of the organisation’s objectives or success.
 
President’s Award
This award recognises an individual that has shaped or significantly contributed to the ongoing development of the reward profession, or has been responsible for the design of complex reward interventions or programmes that have set the standard for best practice in South Africa or internationally.
 
For more detailed information on the annual SARA Reward Awards please visit www.sara.co.za

ENDS
 
MEDIA CONTACT: Cathlen Fourie, 082 222 9198, [email protected], www.atthatpoint.co.za  
 
For more information on SARA please visit:
Website: www.sara.co.za  
Twitter: @SA_reward
LinkedIn: South African Reward Association
Facebook: SARA – South African Reward Association 

​Technology plays a vital role in the evolution of employee reward and incentive programmes, ensuring that the processes are supported and systems seamlessly managed so as to effectively deliver on the employee value proposition (EVP). Technology is the enabler of almost all innovative processes and business models and must not be defined narrowly as an ingredient or component, but rather as a tool which can reveal what is possible and support what is already in play.
 
“Reward strategy must be approached holistically,” explains Peet Kruger, Exco member, South African Reward Association (SARA). “It is essential that technology be integrated into the reward value chain and be seen as an enabler. It cannot drive strategy, but it plays a powerful role in the implementation of strategy.”
 
Understanding the role of technology
“The way in which a business uses technology to support and integrate its delivery of “reward products” to employees can play a critical role in the organisation being seen as an employer of choice,” says Kruger. Organisations can harness technology’s omnipresence to integrate reward solutions into all layers of the business. This will then allow for richer employee engagement and support the delivery of reward and remuneration solutions by aligning them more closely with the people - especially those that grew up with technology -and overarching strategic goals of the organisation.
 
In the value chain, reward is assessed along specific lines to ensure it supports business strategy. It has to take many factors into consideration which include: the skills required, the reward needed to attract these skills, the payment structures, the non-financial rewards which have to be blended into the overall package and the steps which both employee and organisation have to take in order to ensure these are done correctly and within specific parameters.
 
Technology: a valuable solution
Not only does technology help to streamline processes and enhance reward management structures, it enables us to quantify and package the reward value proposition in such a way that it is simple to understand and appealing to the end user.  Employees can see how they contribute to overall organisational success, get a clearer picture of how their rewards are structured and see how much the company is investing in them from a total reward perspective.
 
“There is a growing shift towards the Total Reward Statement which consolidates all the data held within the technology systems and uses this to support and improve reward management throughout the business,” concludes Kruger. “It is a visual representation of the total reward investment in each employee and is a step up from the traditional payslip which mainly focuses on the financial breakdown of the salary package of the employee. This educates, sensitises and create an appreciation for the total reward value proposition enjoyed by employees and contributes to improved engagement and retention of employees”.

ENDS
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MEDIA CONTACT: Cathlen Fourie, 012 644 2833, [email protected], www.atthatpoint.co.za  

For more information on SARA please visit:
Website: www.sara.co.za  
Twitter: @SA_reward
LinkedIn: South African Reward Association
Facebook: SARA – South African Reward Association 

The way people are rewarded for the work they do needs to change if business is to efficiently navigate the economic downturn. While it may be tempting for business to simply reduce financial reward in response to the economic downturn, a longer-term strategic view that blends financial and non-financial reward is advised.

“People are the biggest asset to any business,” says Peet Kruger, Exco member at the South African Reward Association (SARA). “Business therefore needs to keep in mind that the way they rewards their people has a direct effect on how their goals are achieved. Reward management must link directly to the changing needs of employees as it affects their employment decisions and commitment.”

Reward management takes into account more than just current basic pay; it also looks at what people need to be productive and positive in their work environment during and after the economic downturn. 

Kruger highlights three key areas where organisations should focus on building a reward strategy that rewards people in recognition of them being business’ greatest asset.

Keep employees involved through non-financial rewards
The economic downturn has seen many people remain in jobs purely for the salary, not because they are committed to or passionate about their work. Limited opportunities elsewhere mean that they stay and bide their time, instead of truly delivering on their potential.

“Great reward strategies blend financial and non-financial rewards that attract the right people and involve them in order to achieving the business’ goals,” advises Kruger. “I believe that the differentiating factor going forward will be how we combine the financial and non-financial rewards to create an attractive working environment for employees.”

One example of a non-financial reward could include working from home a couple of days a week, if the position doesn’t require face-to-face interaction with clients, or hands on operational duties on a daily basis. Accountants, writers, administration staff and even executives – these all positions where people could work just efficiently, if not more so, from home. Travel time and fuel cost are saved which in effect also leads to more money in the pocket.

Understand reasons for widening wage gap
“Unique threats faced by South African employers must be taken into account when developing reward strategies,” advises Kruger. “By knowing the threats, a business can address challenges impacting employee satisfaction and engagement in a number of ways.”

“One of the most dominant issues impacting on employee satisfaction is the wage gap,” says Kruger. “While management believes that people need to be rewarded for performance, unions want their members to make a living from salaries.”

This gap is widening as a result of lack of understanding of the emotional driving forces behind opposing views. Only once the focus shifts towards gaining a true understanding of the opposing view could strides be made towards a balanced resolution.

Business must be flexible and adaptable 
An excellent reward strategy is an art, not a science. Business has to be flexible and capable of adapting to changes in legislation, transparency or employee behaviour as there remains a growing disconnect between labour and management. 

Against the backdrop of governance, legislation, wage gaps and equality, organisations need to craft reward strategies that are built on their key objectives, understand the challenges unique to South Africa and will remain flexible and dynamic over the long term.

“None of these things can be resolved overnight as the issue of equal pay when legacy systems are in play means there is no short term fix. There must be a longer term view with long term strategies that address unavoidable issues,” says Kruger.

ENDS
​
MEDIA CONTACT: Cathlen Fourie, 012 644 2833, [email protected], www.atthatpoint.co.za  

For more information on SARA please visit:
Website: www.sara.co.za  
Twitter: @SA_reward
LinkedIn: South African Reward Association
Facebook: SARA – South African Reward Association