Insights : Innecto Reward Consulting

Our Autumn 2023 Quarterly Insights are here!

After a year of balancing budgetary pressures with the rising cost of living, the dust may finally begin to settle in 2024. However, whilst inflation rates are falling, it is still much slower than anticipated. Some organisations are also finding themselves wrestling with the knock-on impact of wage compression triggered by increases to the national living wage. Whilst others are continuing to fight for talent in key technical or specialist areas where skills are scarce.

Posted by Simon Cook on
12 October 2023

Reward strategy: How to ensure your reward strategy supports the employee experience at different life stages

Employee Experience | Employee Value Proposition

Paving the path to employee satisfaction: crafting a dynamic reward strategy aligned with different stages of life.

Posted by Sarah Lardner on
05 October 2023

Reviewing or designing Bonus and Incentive schemes

Bonus | HR software

Mastering the art of Bonus and Incentive scheme design: A checklist for HR professionals and managers to drive company success.

Posted by Sarah Lardner on
27 September 2023

Flexible working: can the genie go back in the bottle?

Agile working | Pay Review

Embracing the new normal: The value of flexible work and the challenge of pay structures in a post-pandemic world.

Posted by Justine Woolf on
21 September 2023

Pay Review: what’s your strategic approach in Q4?

Pay Review | Advance

Pay Review time has arrived again which may feel like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Justine Woolf on
15 September 2023

Equal Pay: Don't get stumped by pay equity

Pay Fairness | Pay Data

Pay equity refers to the fair compensation and benefits individuals receive for performing similar work or work of equal value, regardless of gender, race, ethnicity, or other personal characteristics. This principle is essential for promoting fairness in the workplace, creating a level playing field in terms of remuneration, and preventing discrimination and bias that may result in unequal pay for comparable work.

Posted by Sarah Lardner on
01 September 2023

Choose the right data for pay benchmarking

Pay benchmarking | Pay Data

Selecting the right pay data to benchmark jobs in your organisation can be challenging at the best of times, not helped by the variety of options available out there, which many are being positioned as ‘real-time’ data.

Posted by Sarah Lardner on
25 August 2023

Pay Review - risks in processes and how to mitigate

Pay Review | Advance

Sarah Lardner explains how a recent client streamlined their pay review process by eliminating spreadsheets, reducing the risk of error, reducing resource hours, engaging line managers and enabling far better reporting with Advance.

Posted by Sarah Lardner on
18 August 2023

REBA: Reward & Compensation - What are the longer-term implications of high inflation on reward strategies?

Reward Strategy | Reward | High Inflation

The ongoing disputes around pay this year have led to months of strikes across the public sector and have been a significant barometer in a tempestuous year. The impact of the cost-of-living crisis has been catastrophic for many workers in terms of their spending power. Organisations across every sector have come under pressure to respond as employees seek higher salaries in a competitive recruitment market.

Posted by Sarah Lardner on
11 August 2023

Are you getting pay 'right’?

Pay benchmarking

This might be a question that keeps you up at night and with the thought of the pay review process looming, you may be tempted to put off answering this question. By putting a plan in place before the start of September and getting ahead of the game, you’ll be in the best position to create a pay strategy and policy that ensures fairness and competitiveness. Not sure where to start? Your first step should be starting a pay benchmarking project.

Posted by Mark Macoun on
04 August 2023

The changing world of Tech for HR - Part 3: The Metaverse

The Metaverse

In our previous blog posts, we explored the ever-changing landscape of technology and its impact on various industries. This time, we delve deeper into the fascinating world of the Metaverse, which has become a topic of interest for HR professionals and C-suite executives alike. Gartner has revealed that more than half of HR leaders were exploring how they can use generative AI.

Posted by Sarah Lardner on
27 July 2023

Pay Transparency Spectrum – the way forward

Pay Transparency

The trend towards Pay Transparency does seem to be gaining traction, partly because of landmark legislative events and partly due to a new generation of workers demanding greater openness and fairness.

Posted by Justine Woolf on
21 July 2023

Insights