Our Quarterly Insights are here - Pay Trends edition!

Quarterly Insights

This quarterly report draws together the latest insights on pay and reward across a range of sources. It outlines current analysis and future forecasts based on available data to support employers. There is also a particular focus this quarter on post-pandemic pay based on hybrid operating models.

Seven Key Pay and Reward Trends in 2024

Reward | Pay

Navigate the complex landscape of pay reviews in 2024 and beyond with Innecto's expertise.

Four Essential Steps to Address Pay Gaps and Equality

Gender Pay | Gender Pay Gap | Gender Pay Reporting

Unveiling the Gender Pay Gap: A Deep Dive into the UK's Ranking and Strategies for Accelerating Change.

Women in the workplace – policies needed to unlock gender equality

Gender Pay | Gender Pay Gap | Gender Pay Reporting | Women in leadership | Thought Leadership

Seven years have now passed since gender pay gap reporting was first made mandatory in the UK and nobody could deny that issues of gender distribution in business remain the same: in simple terms, there are more men at the top and more women at the bottom.

It’s not all business! Our Pick of the Best Podcasts from 2023

Reward | Podcasts

Navigating the Gold Standard of Remuneration Policy: From Governance Theory to Practical Excellence

Remcom

The gold standard in remuneration policy is not a static achievement but a dynamic journey. Success is not just about reaching the destination; it's about continuously evolving and adapting to the ever-changing corporate landscape.

Greater Pay Transparency is coming – How to ensure you have an equitable and gender-inclusive approach to pay and bonuses

Pay Transparency | Pay Fairness

Reflecting on Equal Pay Day, the urgency for Pay Transparency is underscored as companies grapple with the complexities and concerns surrounding openness in salary structures.

The key technology changes to be aware of as we plan Reward Strategy for 2024

Evaluate | Job Evaluation Software | HR software | HR Technology | PayLab | Advance | Hapi

HR Tech is evolving to meet the ever-changing needs of modern business. Previously companies acquired an Enterprise solution like Oracle or PeopleSoft to ‘do everything’. Now HR Directors can pick and choose between a range of products on different platforms with an expectation that they can integrate and ‘talk to each other’. It sounds straightforward but the goalposts are constantly shifting so it is important to peel back the layers.

How to use your Reward Strategy to support good performance in 2024

Reward Strategy

Unlock Success in 2024: Learn Key Strategies for Aligning Your Reward Strategy.

Navigating the Changing Landscape of Reward Management: Challenges and Solutions for HR Directors in the Legal Sector

Reward Consultancy | Bonus | Pay Fairness | Pay Review

Navigating the evolving HR landscape, Innecto's team, with experience from top law firms, addresses challenges faced by HR and Reward professionals, offering strategies for rebuilding recognition culture in a hybrid work environment, simplifying bonus schemes, balancing transparency and discretion in pay decisions, addressing regional pay discrepancies in a distributed workforce, building business cases for investing in business services, enhancing pay review processes, and creating unique employee propositions to retain key talent in the ever-changing legal sector.

Practical measures to tackle pay gaps

Gender Pay | Gender Pay Gap | Gender Pay Reporting

Instances of unequal pay can manifest all too easily, but they can also be guarded against by building a greater understanding of the data available, and then auditing and benchmarking, which often requires outside help. Here are some key areas for companies wanting to make genuine strides in this area.

Four essential steps to address pay gaps and equality

Equal Pay | Gender Pay | Gender Pay Gap | Gender Pay Reporting

According to a World Economic Forum Gender Gap Report published in July 2022 the UK’s gender pay gap ranking is 22 out of 146 countries, with Iceland, Finland and Norway topping the table with the smallest gaps. At the current rate of change, the report suggests the UK’s gender pay gap will take 132 years to close entirely. A sobering thought.