Welcome to the Hovy Reward Solutions website. I look forward to having many stimulating conversations on the impact that Reward professionals have on individuals, organisations and social practices.
I have been inspired by a few historical reward events:
In 1858, well ahead of its time, our great-grandfather Willem Hovy introduced paid sick leave for workers at De Gekroonde Valk brewery in Amsterdam in the Netherlands.
Minimum wage legislation was introduced in the Australian State of Victoria in 1896. In 1907 this was defined as a ‘living wage’.
There were some big ticket items in the US:
In 1904 Pierre Du Pont devised incentive stock options, and in 1920 General Motors introduced management incentive plans.
In 1998 Sandra O’Neal distilled the concept of a Total Rewards Strategy embracing pay, benefits, learning and development, and work environment. This paved the way for the design of Global Total Rewards Strategies at the beginning of the 21st century.
Global total reward strategies began as predominantly centralised approaches. They have evolved as the thoughtful integration and delivery of global strategies within local and regional socio-economic context and culture. These strategies are driving employee and organisation performance and influencing local social benefit practices.
In this blog we will discuss high impact local and global reward strategies and explore innovative solutions to unique company challenges.