Pay Benchmarking: Best Practices and Strategies
Amin Uddin | 01 November 2024
In the modern business world organisations are striving to attract and retain top talent with competitive, fair and transparent compensation practices. One crucial building block in this is Pay Benchmarking, which provides insights and comparisons into industry standards and norms, and helps organisations make informed decisions.
Top tips to boost your recognition scheme on a budget
Sarah Lardner | 25 October 2024
A Recognition Strategy is a great way to keep employees motivated and engaged and does not need to break the bank. Here are some low-cost ideas for establishing a scheme and helping it achieve its potential.
Addressing burnout and wellbeing through reward
Holly Coe | 18 October 2024
Communications | Recognition | Reward | Hapi
Every company wants to look after their employees while also appealing to their better nature. A competitive salary is important but enduring happiness at work relies on employees feeling valued and respected. It is how we bring the best out of people and it is how we inspire and maintain a willingness to work hard.
The Future of Performance-Based Pay Schemes
Sarah Lardner | 11 October 2024
Long Term Incentives | Performance Related Pay | LTIP | Pay
Employee motivation is crucial to any organisation because it helps kick-start or maintain a desired level of engagement, productivity and performance. Regardless of their role or level, workers who feel motivated are more likely to invest in the long-term goals of a business, take an interest in the setting of those goals and contribute to meeting or surpassing them.
Business services roles in Law – helping firms value the undervalued
Justine Woolf | 03 October 2024
Evaluate | Pay Structure | Job evaluation
Historically and perhaps understandably, much of the focus in law firms has been on fee-earning roles. It has been more of a challenge for HR departments to implement formal reward structures for Business Services roles. Now, though, this whole area is being driven up the agenda by challenges in recruitment and retention as well as legislative and social pressures.
What is Intersectionality and how does it apply to the Pay Gap?
Sarah Lardner | 26 September 2024
The pay gap regulation is currently relatively simple: it looks at the difference in average earnings between men and women. While this is a start, the average does not begin to account for variation across different groups. In short, it is too simplistic.
Seven Strategies for rewarding High-Potential Employees
Spencer Hughes | 20 September 2024
Employees with high potential are worth fighting to keep and the best way we can do that is by setting out and communicating a reward framework that is able to measure and reward them with both salary and variable pay. Here are my seven key points.
2024 Paris Olympics – The value of a medal and the changing landscape of incentive and recognition
Mark Macoun | 13 September 2024
With Paris 2024 behind us, the postmortems will now begin on the world’s grandest sporting fortnight, including Olympic medal hauls, new-found global recognition and, for some, prize money.
Four-day week: welcome flex for workers or dangerous balancing act for companies?
Sarah Lardner | 10 September 2024
The new labour government recently re-opened the lid on the four-day working week, and have made some fairly loud noises about moving forward with additional legislation. More detail is expected in the autumn when a law for a new package of workers' rights could be brought to parliament.
Top 5 things to consider during this year’s pay review process
Justine Woolf | 06 September 2024
Pay Review | Advance | Pay
Budgeting for pay reviews can mean ploughing through an overwhelming raft of data for organisations but there are simple steps and tools available to take the stress away
How to ensure your reward strategy enables progression and supports careers
Justine Woolf | 30 August 2024
When setting out to design a reward strategy, many companies will start with their core principles which tend to be fairly generic in nature: ‘We will reward people for the work they do and how well they do it’. ‘We will stay competitive in the market’.
Meet the Team: Paul Davies – Reward Analyst
Paul Davies | 30 August 2024
Introducing Paul Davies, our next feature in the Meet the Team Series! Learn what initially drew Paul to a career within Reward and what excites him the most about it.
