Insights : Innecto Reward Consulting

How to evaluate your EVP and make your business stand out

The UK economy continues to see low levels of unemployment post-pandemic coupled with high levels of job vacancy. This tightness in a crowded labour market is putting pressure on companies to stand out.

Posted by Deborah Osarogiuwa on
14 July 2023

Salary education - How to ensure your employees understand the real value of their compensation package

Salary Education

There is no question that persistently high inflation in recent times has put a squeeze on workers’ pockets and ramped up the pressure on employers to keep pace with pay awards. Recent industrial action, for example by teachers, nurses and rail workers, have only served to highlight the increased focus of employees, and the need for greater pay transparency moving forward. While employers grapple with determining their appropriate pay levels, educating workers about the true value of their compensation package has never been more important, and yet this education is often overlooked. Here are four key areas employers can look at to boost salary education across the workforce.

Posted by Simon Cook on
07 July 2023

REBA: How to use reward technology to identify and fill pay gaps

Reward technology | Pay Data

Diversity, equity and inclusion policies are becoming more and more important within organisations and technology can help improve their effectiveness

Posted by Sarah Lardner on
30 June 2023

The changing world of Tech - Part 2: Generative AI

HR software | Reward technology | HR Technology | The Metaverse

In the first instalment of this two-part blog I focused on the Metaverse, and what it means to the business world in which we are operating as HR professionals. This time I am going to focus on the related topic of Artificial Intelligence (AI), specifically Generative AI.

Posted by Sarah Lardner on
23 June 2023

Support with pay progression and targeting pay awards - initiatives in a changing landscape

Pay Progression

Pay progression can be managed in a variety of ways and each company and set of employees will bring a unique set of challenges. In looking to find the best way through pay progression it is important to assess the many different methods and practices available to companies in measuring employees and assessing their value to the business.

Posted by Cathryn Edmondson on
16 June 2023

The changing world of Tech - Part 1: The Metaverse

Disruptive HR | Reward technology | HR Technology | Planning Ahead | Thought Leadership

In the first of a series of Metaverse-themed insights, Sarah Lardner explores what the Metaverse is and how HR leaders can leverage the opportunities it presents.

Posted by Sarah Lardner on
09 June 2023

Innovating with pay strategies – thinking outside the box when under inflationary pressure

Pay Fairness | Pay Progression | Pay Structure

In the absence of inflation-busting pay rises to match the cost-of-living crisis, most companies are having to get creative. Rather than focus solely on pay, we are encouraging our clients to review their core principles around reward and look broader at benefits, ways of working and culture, which I’m boiling down into four Fs: fairness, flexibility, future-proofing and friendship.

Posted by Cathryn Edmondson on
01 June 2023

11 Steps to boost your Sales Incentive Scheme

Pay Structure | Pay Review

For a sales team to perform and achieve at an optimum level, it needs three things: a well-designed sales plan; data and insights for forecasting, planning, and aligning their efforts to the business’s goals; and the tools to enable performance (training, environment, culture and CRM systems). Too often we see bonus schemes that are over-engineered, hard to understand and ultimately demotivating, so how can you review your current plans?

Posted by Sarah Lardner on
26 May 2023

What next for young workers after rise in minimum wage levels?

National Living Wage | Pay Progression | Pay Data

On both a national and company-led level, pay increases must be matched by initiatives to create opportunity and enable progression.

Posted by Simon Cook on
18 May 2023

Our Quarterly Insights are here - Pay Transparency Special Edition

Pay Transparency | Quarterly Insights

This quarterly report draws together the latest insights on pay and reward across a range of sources. It outlines the current analysis and future forecasts based on available data to support employers.

Posted by Simon Cook on
16 May 2023

Strategy & Policy: How to create a reward and benefits strategy that is flexible enough to support employees of all ages

Benefits audit | Benefits intelligence | Flexible Benefits

In the consumer world, companies know how important it is to understand their customers’ diverse needs. By doing this, they can tailor products and services based on demographic, behaviour and habit to maximise value.

Posted by Sarah Lardner on
11 May 2023

Reward Strategy: How to avoid reward structures that can inadvertently encourage overwork and poor working cultures

Reward Strategy

At Innecto, we encourage our clients to really think about who they are as an organisation, and what they are wanting to achieve when we talk about defining culture. Once that has been established, we can begin to question whether the existing reward structures are supporting or impeding those aspirations.

Posted by Justine Woolf on
04 May 2023

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