Navigating the Changing Landscape of Reward Management: Challenges and Solutions for HR Directors in the Legal Sector
Justine Woolf | 09 November 2023
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
Justine Woolf | 03 November 2023
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
Justine Woolf | 27 October 2023
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.
Our Autumn 2023 Quarterly Insights are here!
Simon Cook | 12 October 2023
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.
Reward strategy: How to ensure your reward strategy supports the employee experience at different life stages
Sarah Lardner | 05 October 2023
Employee Experience | Employee Value Proposition
Paving the path to employee satisfaction: crafting a dynamic reward strategy aligned with different stages of life.
Reviewing or designing Bonus and Incentive schemes
27 September 2023
Mastering the art of Bonus and Incentive scheme design: A checklist for HR professionals and managers to drive company success.
Flexible working: can the genie go back in the bottle?
Justine Woolf | 21 September 2023
Embracing the new normal: The value of flexible work and the challenge of pay structures in a post-pandemic world.
Pay Review: what’s your strategic approach in Q4?
Justine Woolf | 15 September 2023
Pay Review time has arrived again which may feel like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.
Equal Pay: Don't get stumped by pay equity
Sarah Lardner | 01 September 2023
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.
Choose the right data for pay benchmarking
Sarah Lardner | 25 August 2023
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.
Pay Review - risks in processes and how to mitigate
Sarah Lardner | 18 August 2023
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.
REBA: Reward & Compensation - What are the longer-term implications of high inflation on reward strategies?
Sarah Lardner | 11 August 2023
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.
