Luxembourg based financial advertising & publishing company, employing approximately 80 people.
Financial clients outsource tasks of financial advertising and publishing to this company; NAV publication in international newspapers; ads and legal notices and investment funds literature.
Our client is growing fast and doubled its number of employees over the last year. The HR function as it was structured so far showed inefficiencies. The client asked us therefore to assess the current situation and present recommendations for improvement to support their intended growth.
Management believed staff salary costs were over market.
No staff policies or procedures existed.
We conducted a HR function assessment based on 4 levels: people, processes, organisation, system: Management and HR interviews were conducted. Review and Testing were completed.
A salary benchmark was based on Luxembourg published salaries studies and on own database. Statistics and recommendations were provided on individual salaries, internal fairness and job grading.
Staff handbook was developed.
Recommendations and action plan to improve the efficiency and effectiveness of HR, including performance evaluation, systems and salary policy.
Newly implemented performance management system will save approximately €50K.
HRIS selection recommended and is in process.
Culture diagnostic and leadership assessment in process.
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