Human Capital Services
With its Human Capital Services (HCS) Department, Garrigues boasts a team of lawyers, economists and consultants who advise on HR compensation, organization and planning for companies.
Unlike traditional HR compensation and organization consulting services, Garrigues HCS provides an integral service that not only deals with the strategic and design implications, but also includes HR-specific tax and legal advice for companies.
Garrigues HCS advises numerous financial institutions on the process of bringing their compensation policies into line with the new legislation in this area, as well as the appointments and compensation committees of the boards of countless listed companies.
The Department is also the driving force behind the HR Directors’ Forum which, for the fourth year running, brings together executives from an array of companies to share and put forward solutions to the main issues concerning HR compensation and organization.
Strategic HR management
Ensuring that HR management is in line with the defined strategy is one of the keys to achieving the objectives set by an organization. With this in mind, the services offered by Garrigues HCS include the following:
- Defining the strategic plan and the organizational model
- Analyzing and redesigning organizational structures
- Preparing the HR function reporting structure/li>
- Designing and implementing HR policies and management tools
- Preparing a catalog of competencies based on the business strategy
- Defining performance indicators and measurements by area and organizational level
Design and implementation of compensation structures
Compensation is one of the main tools available to business organizations for attracting talent and aligning the performance of their professionals to the organization’s goal. For the compensation model of an organization to fulfill these objectives, two fundamental principles must be borne in mind at the design stage: internal fairness and external competitiveness. In this connection, the services offered by GARRIGUES HCS include:P>
- Determining how competitive the compensation model is compared with the market
- Analyzing the extent to which internal fairness exists among the various groups
- Studying the compensation model and identifying any adjustments to be made
- Analyzing the repercussions of implementing or modifying a compensation model
- Defining pay bands by occupational group or family
- Defining compensation policies with which to manage the compensation offered to individual employees throughout their career in the organization .
Compensation and benefits
Definition and start-up of objective-based variable compensation systems
Garrigues HCS designs the architecture of short-term variable compensation systems, and defines the system characteristics and its operating rules. Moreover, it defines the objectives the attainment of which is tied to payment of the variable compensation set, so as to ensure their internal consistency and their alignment to the company’s general objectives. It also builds the support tools that enable fulfillment of the objectives to be monitored.
Implementation of medium-term cash and stock-based incentive systems
HCS experts provide advice on the design and implementation of medium-term incentive programs. These programs are an essential factor for achieving any organization’s goals and objectives, serving to motivate executives and employees and providing common goals for employees and shareholders alike.
Implementation of retirement-linked compensation systems
Garrigues HCS can call on a team of tax advisers and employee welfare consultants, thereby enabling a comprehensive approach to designing and implementing systems of this kind.
Implementation of flexible compensation systems
The services provided by Garrigues HCS experts include designing flexible compensation systems, proposing alternatives, preparing the communication plan for beneficiaries, and creating the necessary tools to manage the system.
International HR management
We can draw on our extensive experience in international worker mobility matters to offer the best advice on all expatriate-related issues, whether of an organizational o tax and legal nature.
Personal and executive team development
In any transaction involving major organizational change (such as restructuring, mergers or acquisitions), proper planning and management of the human and organizational implications are an essential requirement for the successful outcome of the process. Garrigues HCS evaluates HR policies, engages in team-building, defines and manages communication, evaluates and diagnoses the working atmosphere, and engages in team-planning according to size and competency profiling.
The Department also offers executive team-focused advisory services which include evaluating executive competencies, designing executive development plans, personal coaching, and performing a critical analysis of current procedures for attracting and retaining talent.
Work-life balance, flexibility, diversity and equality
The HCS team develops and implements HR management models that prioritize flexibility in the workplace and ensure best practices in the area of equality and work-life balance.
Team members stand ready to advise on the procedure for obtaining ‘Family-Friendly Employer’ certification and the Equality Mark (Royal Decree 1615/2009).
The experience amassed by HCS professionals has made Garrigues the firm of choice for the appointments and compensation committees of the boards of numerous companies in relation to their compensation policies and making them fit within the business strategy of each organization.