Setting your pay policy - avoiding pitfalls and common traps
Holly Coe | 29 November 2024
When it comes to Pay Review and setting pay policy, HR can lose valuable time in complex manual processes and end up making do without the kinds of tech tools they now have access to for helping crunch the data to inform important decisions. Here Senior Reward Consultant Holly Coe identifies four main areas of concern, and outlines how Innecto's Advance tool can help mitigate.
Pay Transparency: How we leverage change and set new standards for fair pay
Justine Woolf | 22 November 2024
While the drive and legislation for Pay Transparency differs from country to country, one consistent thread is the aim to address and alleviate pay disparity. Even if more has been done in other countries than in the UK, the trickle-down effect of those pay equity laws is still a driving force behind UK companies taking the issue more seriously.
What is Equal Pay Day and why does it matter?
Sarah Nash | 22 November 2024
Equal Pay | Equal Pay Audits | Gender Pay | Gender Pay Reporting | Job evaluation
This Wednesday, the 20 November 2024, was Equal Pay Day. It’s a national campaign led by the Fawcett Society, a UK charity championing gender equality and women’s rights at work.
Pay Transparency: How we leverage change and set new standards for fair pay
Justine Woolf | 22 November 2024
While the drive and legislation for Pay Transparency differs from country to country, one consistent thread is the aim to address and alleviate pay disparity. Even if more has been done in other countries than in the UK, the trickle-down effect of those pay equity laws is still a driving force behind UK companies taking the issue more seriously.
The future of Pay benchmarking – is real-time data worth using?
Mark Macoun | 08 November 2024
Pay & Reward | Pay benchmarking | Pay
Paying workers at a level that is seen to be fair and competitive is vital for any company or organisation wanting to succeed. It is a key cornerstone to attracting and retaining strong talent.
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.
