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In this section you will use the outcomes of your SWOT and gap analysis to consider what changes need to be made to your current reward policies and practices in order to achieve the goals set out in your reward strategy. By assessing the extent of each of these changes you can start to identify any 'quick wins' which you may want to introduce early or consider re-launch of all the reward elements at one time.
We have provided a template tool to help you compare your current reward situation with any future implications for changes. We recommend that you use the gap analysis you carried out in phase one to help you populate the tool.
You can use the left-hand column to summarise the key strengths and weaknesses found in your phase one diagnosis and the right-hand columns to categorise the level of change required. The template suggests the following levels of change, these can be adapted to reflect local terminology:
- Tweak - no real change needed to the actual element of reward but needs to be better communicated, targeted, implemented or administrated. This could be a simple communication to remind staff of the benefits available to them but should be targeted to different staff groups rather than 'one size fits all'.
- Adapt - the element of reward requires some change. This could be how it is accessed, the extent to which it is offered or could be a change of provider. It might require a more extensive change to how it is communicated, accessed or administered such as moving from a paper process to an e-process but using current systems.
- Overhaul - introducing new elements such as pay linked to performance and flexible benefits. Changing the way in which rewards are accessed by staff, for example developing an online reward 'hub' (one-stop shop) and using mobile apps to engage staff.
How do I assess the extent of change required?
The extent of change required can be indicated in a number of ways, such as:
- If there are significant misfits between business goals and values and your current reward practices. For example conflict with patient care goals such as reward to reward values and behaviours necessary to deliver excellent patient care; or the cost or current reward offerings outweighing the benefits (poor return on investment) and therefore out of step with major cost inefficiencies.
- If your staff survey is highlighting major workforce issues such as low levels of staff engagement and morale and dissatisfaction with the current reward offering. This may also be reflected in performance levels and therefore have a direct impact on the quality of patient care delivered.
- If you are experiencing major problems with external market alignment. For example struggling to recruit and retain to specialist areas and high calibre employees across all sections of the workforce.
Having identified where changes need to be made, you should now consider which reward elements will effectively deliver the principles and goals of your reward strategy. While you will need to give some consideration to how the elements you choose will be implemented, this will be covered in more detail in phase three of the toolkit: Implementation and communication.