Insights : Innecto Reward Consulting

Category: Pay Progression

Our Q1 Quarterly Insights are here!

Pay Progression | Pay Review | Quarterly Insights

QUARTERLY REPORT This quarterly report draws together the latest insights on pay and reward across a range of sources. It outlines current analysis and future forecasts based on available data to support employers. There is also a particular focus this quarter on the lessons from 2024 pay settlements. The initial pay settlements in the first quarter of this year, coupled with decisions taken by remuneration committees for pay budgets, provide a clear sense of direction for pay in 2024. Based on our findings, we examine the key lessons for HR and Reward professionals to take forward as part of pay planning.

Posted by Simon Cook on
23 May 2024

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

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

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

How to mitigate pay pressure, especially in hard to recruit sectors

Pay Fairness | Pay & Reward | Pay Progression | Pay Review | Pay Data

The current cost of living crisis is bringing with it a whole new wave of pay pressure for employers, but traditionally pay pressure can arise when you have an urgent need for hot skills.

Posted by Lisa Trewhitt on
07 July 2022

The big squeeze: 4 ways to handle low pay increases

The government's low pay increases in recent years have been ambitious and caused budgeting headaches across businesses with a large proportion of low pay employees. With rates set to keep rising, how can you handle these challenges and make them work for your business?

Posted by Gemma Bullivant on
12 November 2019

Making a merit-based pay model work for your business

With newly qualified lawyers preparing to join their new employers shortly, many law firms are in the process of reviewing their pay bands and pay structures. Once again, the discussion surrounding the benefits and drawbacks of the traditional PQE-based pay model have begun, and the merits of alternative pay models, have been reopened.

Posted by James Bigus on
10 June 2019

4 steps to creating the perfect pay structure

HR Reward | Reward Consultancy | Analytics | Pay Progression | Pay Structure

Pay structures are a great method of simplifying reward mechanisms and managing career development and salary progression - but how to design one that reflects your organisation's unique needs? Reward Consultant Ben Rowley takes you through 4 crucial design steps.

Posted by Ben Rowley on
02 April 2019

Paying for skills: the rhetoric, the reality, the need for resurgence

HR Reward | Reward Consultancy | Reward Intelligence | Pay Progression | Skills based pay

We’re delighted to bring you a guest blog from Dr Duncan Brown, Head of HR Consultancy at the Institute for Employment Studies. Duncan discusses the current status of skills-based pay, and its potential for improving UK pay levels and productivity.

Posted by Duncan Brown on
25 September 2018

Baby steps to solving the Gender Pay Gap

How to close the Gender Pay Gap? It's a complex question, but Innecto's James Bigus has one suggestion - make your workplace family-friendly and encourage parents to 'share the load' on childcare.

Posted by James Bigus on
15 May 2018

3 ways to manage National Living Wage increases

With the NLW on target to reach nearly £9 an hour by 2020, it’s vital to work out how you’ll absorb such a large hike in your wage bill over the next two years. Here’s 3 ways to manage the increase and make your pay pot go further.

Posted by Alastair Cole on
23 April 2018

The New World: How to Link Evolution in Performance Management to Pay Decisions

This week, Deborah Rees-Frost looks at addressing changes in Performance Management approaches and how they can cause problems in rewarding Talent. How can we retain the best from the new world of open discussion between employee and manager and yet develop a workable link to pay decisions?

Posted by Deborah Rees-Frost on
12 December 2017

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