RAMAPHOSA’S NEW DAWN

Reward professionals to play major part in Ramaphosa’s new dawn

5056_Dr Mark Bussin.jpg

The prosperity and equality of the nation’s workforce – alluded to in the recent State of the Nation address by President Ramaphosa – is in large part determined by reward practitioners: professionals that advise companies on how to structure financial and non-financial pay elements to compensate employees for their work.

“Inequality was mentioned at least ten times during the address,” says Dr Mark Bussin, a Master Reward Specialist and Exco member of the South African Reward Association (SARA). “Reward practitioners must take this seriously in their practices and policies by reporting the wage gap in annual financial statements, and finding ways to close the wage gap in companies.”

Tough calls for private sector reward practitioners

Reward and HR practitioners also need to step up their focus on training and education. Tough calls are necessary on employing more people through internships, and creating entrepreneurs within companies.

Tougher yet will be the decision to release these successful candidates to industry in order to let the larger economy benefit from the initial training and development investment.

Tough calls for public sector reward practitioners

HR and reward practitioners in government will be tasked with cutting costs, cutting pay increases, and managing fruitless and wasteful expenditure across the public sector workforce.

“Reward practitioners need to be steady, well informed and consistent in their approach,” says Bussin. “They also need to stand up to those that resist changes for the greater good, as well as new leaders who want sweeping changes just for the sake of it.”

Tough calls for individual practitioners

HR and reward practitioners furthermore need to be the custodians of women representation as well as youth development in organisations. Bussin advises reward practitioners to follow national policy in all areas including benefits, working conditions and employment practices.

Reward practitioners will also have the added challenge of supporting government and business in creating increased remuneration for 6 million people. The implication of this is that practitioners focus on getting their remuneration governance right and working without any further delay.

“As per our President’s closing words, all reward practitioners have a chance to make a difference right where they are by moving beyond historic practices and being willing to say “send me” to do the tough work where it is necessary.”

PHOTO CAPTION: Dr Mark Bussin, Exco member of the South African Reward Association (SARA)

comments powered by Disqus

RW1
R1
R1
R1

This edition

Issue 398
Current


Archive


Leadership_Mag Marketing and PR extraordinaire and social entrepreneur, Emmanuel Bonoko, is a leader on a mission to conquer the w… https://t.co/pfCvMpV1Fm 3 days - reply - retweet - favorite

StillChristelle This month we are in the with our friends from talking about supercars. #welovecars #car… 11 days - reply - retweet - favorite

PriorConsults “South African investors should be looking at international options because of the fluctuating #rand as well as the chal… 11 days - reply - retweet - favorite