We at Monarchjais, work with organizations to design and implement highly effective employee rewards programs and policies that support business strategy and attract and retain quality professionals. We don’t simply follow market practice – we dig deep to develop a true understanding of an organization’s business culture and strategy. As rewards strategy must align with organizational strategy and culture to drive results, allocate resources, ensure appropriate pay levels, optimize mix and method of payment, and consider alternate non-financial rewards. And we spend time talking to leaders, managers and employees about what is meaningful and engaging, and we apply cutting edge solutions to analyze current design, pay equity, total compensation, benchmarking and more. We leverage total rewards, examining both financial and non-financial levers to engage and motivate; and then synthesize all of these elements to build strategic and tactical implementation plans - plans that fit with your corporate strategy and add business value by driving and maximizing the employee value proposition

Pay structures tell employees how organizations value its jobs, what job and compensation advancement opportunities are available, and how competitive the pay practices are compared to other organizations. The pay structure integrates an organization’s internal requirements, and also it enables a comparison to competitors in the HR marketplace. Base pay often reflects the value of the work itself and disregards differences in contribution of individual employees. It is important to note that there are lots of factors that affect the development of a pay structure! We can design the complete salary structure for all the jobs in your company by which you will be ensuring the salary equity internally and competitiveness externally. This will help you to attract the right talents and retain the current ones

This Services Include:

Job Description
A Job Description entails a summary of the key roles and responsibilities of a particular job. It includes the main roles & duties assigned, as well as the qualifications required to perform the job in an effective and efficient manner. Monarchjais assists organizations through utilizing its robust methodology and knowledge, in addition to following a thorough job analysis approach, in developing and customizing Job Descriptions according to the organization and industry specifications and requirements.

Job Evaluation
Each job inside the organization will be assessed and weighted by Monarchjais consulting team using the point factor method in order to measure each job value to the organization. Each job will be assigned a number of points that reflect its worth to the organization based on customized criteria. Accordingly, you will be able to determine which jobs shall be paid more than the others and why.

Job Grading
Rather than having one salary grade for all the organization, companies tend to have several job grades / job families as it is much easier to apply reword, talent and performance management for grades than applying them for each job. Our team of consultants can help you to determine all jobs that are weighted similarly and engaged in similar work criteria and combine them in a differentiated job grades.

Salary Benchmark
After ensuring that jobs are paid fairly inside the organization, Monarchjais can help you benchmark your salary scale with organizations in similar industry at the market in order to make sure that you pay competitive salaries comparing to the market. Moreover, we will help you to determine your pay philosophy either to lead, match or lag the market.

Salary Structuring
We will help you to determine the salary range (minimum, midpoint and maximum) for each grade and most importantly, we can provide you with customized solutions to those who are above or below the salary range in accordance with your pay philosophy.

With employees increasingly looking beyond salary and focusing more on their total reward package, offering the right mix of benefits can help attract and retain the best people and keep your workforce engaged and motivated. Concerns over the costs and time involved in carrying out an employee benefits benchmarking exercise, along with fears over a possible increase in costs/benefits, mean businesses often delay this crucial exercise. However, in many cases, the opposite is found to be true. A clear corporate strategy around benefits and communication supports organisational goals including staff attraction, retention, productivity, wellbeing and corporate profitability.

Monarchjais possess a creative, meaningful and motivational approach to your benefit plans; and provide comprehensive and customized benefit consulting and administration that address your strategic business goals. We can help review your existing offer, ensuring it delivers what your employees want, motivating great performance and providing a better return on your investment. And will be able to assess what is on offer to deliver an employee benefit strategy to get your employees engaged. Our benefits intelligence service has two modules – which are benchmarking and curation. This insight will help you re-define your benefits package and is an important step to becoming an employer of choice.

Benchmarking: - If an organisation feels their benefits lacks appeal compared to competitors, we assess their offer against the marketplace and report back.

Curation: - We curate benefits offers by garnering detailed opinions among employees, running focus groups, and analysing the results. We also organize the tender process and recommend best-fit providers for your needs.

We work closely with you to create a tailored package that’s exactly right for your business. Our consultants are dedicated to finding out about your organisation in detail so that we can deliver the best possible solution for your people. We have built our reputation on outstanding customer service, attention to detail, technological innovation and creativity. As a result, our clients have been able to control benefit costs, remain compliant, improve workflow efficiencies and enhance employee morale.

Monarchjais helps companies achieve the right balance between guaranteed and variable compensation as well as short-term versus long-term incentives. It believes that incentives should take the form of value sharing which are paid out of the productivity profit of the company. This is a "self-financing approach" that rewards individuals for their contributions to value creation while protecting shareholders. We incorporate a "decision tree" process to determine which plan is most suitable, perform extensive modeling to ensure financial viability, help clients navigate all planning decisions, provide expert documentation assistance and help with personal employee enrollment, as well as ongoing administrative support. Our extensive capabilities allow us to design, implement and manage any types of annual and long-term value-sharing plans.

Flexible benefits programs haven’t been as successful in every region – especially Asian regions, as compared to mature markets in the west, with the fundamental problem laying in how flex is perceived in in these regions. While traditional approaches of implementing flex programs focused on it as a standalone solution, when in reality flex should be viewed as a component of the total rewards framework. This holistic view along with the use of data which not only backs ups any anecdotal assumptions HR may have about how employee engage with the program, but can also be used as a cost containment tool when managed effectively.

Flexible benefits plans offer more choices, personalized coverage and stable premiums. Instead of providing a defined package under a traditional benefits plan, employees with different needs can explore various options to ensure optimum coverage for their situation. Most employers today offer a traditional benefits plan. These plans provide a wide range of coverage to every employee, even though their individual needs may vary. Take advantage of our expertise to have a flexible benefits plan that is cost effective and relevant to your business.

Our in-house expertise can be made available when you need to facilitate important discussions with management / staff and trade unions. We can bring added value to any such forum, and will take the lead if required to ensure discussions prove positive and constructive. Such circumstances can include but not limited to: Pay Negotiations, Employment Policy, Changes to terms and conditions, Relocations, Redundancy Issues, Organizational restricting, Redeployment New strategy development and implementation discussion etc..

Employee recognition is the acknowledgment of an individual or team's behavior, effort and accomplishments that support the organization's goals and values. Recognition is not one-size-fits all. Thought needs to go into what would be appreciated by the person being recognized. When you recognize people effectively, you reinforce, with your chosen means of recognition, the actions and behaviors you most want to see people repeat. There are some compelling reasons to focus some attention on employee recognition. Employees who feel appreciated often go above and beyond what is expected of them, and they will be more productive and motivated, they will be more likely to stay with the organization. Our consultant will be able to develop employee recognition program for your company and lets your employees know that their hard work is valued.

Our experienced consultants will work with you to design, implement, and to closely monitor your company's wellness program. We will develop a customized plan that fits the culture of your unique organization.