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May 21, 2021 Before Covid-19 hit the world, the approach to reward was well defined. Organisations paid their employees a fixed basic salary, plus a set of additional benefits that effectively sweetened the pot. By Dr Mark Bussin, master reward specialist, and Yolanda Sedlmaier, chartered reward specialist, both executive committee members of the South African Reward Association (SARA) The fixed portion served to ensure workers received an equitable market-related income. The variable portion, on the other hand, extended into performance related rewards such as sales commissions and annual bonuses. Variable pay itself is categorised into two components. Short-term incentives (STIs) are attached to annual performance. Long-term incentives (LTIs), like company shares, are often contingent on employees meeting negotiated performance criteria.

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