Insights : Innecto Reward Consulting

Category: Bonus

Navigating the Changing Landscape of Reward Management: Challenges and Solutions for HR Directors in the Legal Sector

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.

Posted by Justine Woolf on
09 November 2023

Reviewing or designing Bonus and Incentive schemes

Bonus | HR software

Mastering the art of Bonus and Incentive scheme design: A checklist for HR professionals and managers to drive company success.

Posted by Sarah Lardner on
27 September 2023

Myth-busters 2023: Tackling common misconceptions in pay and reward

We asked our consultants and analysts to raise some common misconceptions and explain where they think misunderstandings may lie.

Posted by Cathryn Edmondson on
03 February 2023

How to maximise the value of bonus and commission schemes

Bonus | Commission

As with most things in HR, careful planning is at the root of driving efficiency in bonus and commission schemes. Only by putting the right amount of thought into designing schemes can they provide a continuous, circular benefit to employee and employer rather than an annual start-stop-restart train ride. This same planning should also ensure that employees are measured, tracked and communicated to in the right ways, and that you keep things as efficient and streamlined as possible, both in your policies and in your corporate governance.

Posted by Sarah Lardner on
16 December 2022

How to distinguish between bonuses and recognition and ensure both are valued

Bonus | Recognition | Reward

There is a distinct difference between a one-off reward and the steady drip-feed of recognition. Each carries different incentives, drives different behaviours and comes into its own at different times. Here we examine the key differences and how you can reach the holy grail of having them work together in perfect harmony.

Posted by Spencer Hughes on
21 October 2022

Ways to use LTIPs and alternative incentives to immediate pay rises

Bonus | LTIP | Pay Review

With many organisations deferring, reducing, or cancelling planned pay reviews this year, some employees may be left wondering how their employer will show them that they continued to be valued. Justine Woolf suggests alternative ways organisations can show appreciation to their employees when bonuses and pay rises aren't viable.

Posted by Justine Woolf on
15 October 2020

Three considerations when setting employee performance targets, pay and bonuses in a volatile market

How do you balance doing the right thing by your employees in terms of bonus and commission when business performance is not where you expected it to be? This is a hard question to answer and there will not be one approach that works for every business. However, there are questions all businesses can ask themselves to help navigate the challenges with performance targets and variable pay.

Posted by Cathryn Edmondson on
19 August 2020

The impact of bonus and variable pay on morale and engagement

Bonus | Motivation | Employee engagement | Engagement | Covid-19

As we are now seeing lockdown lifting, albeit gradually, many workplaces are getting back to some kind of normality, are bonus expectations set to come back? Mark Macoun looks at how the pandemic has influenced bonus payments, and suggests ways you can boost morale and engagement when budgets are tight.

Posted by Mark Macoun on
06 July 2020

Paying for performance in the not-for-profit sector: Part 2

This week Justine Woolf presents Part 2 of her How-To on performance-based pay in the not-for-profit sector. She looks at how to decide if it's right for your organisation and if so, how to make it a success.

Posted by Justine Woolf on
12 May 2020

Paying for performance in the not-for-profit sector Part 1

Bonus | Performance Related Pay | Pay & Reward | Pay Structure

Those of you working in the not-for-profit sector will recognise the dilemma of paying for performance and whether it’s something your organisation should do or not. Justine Woolf looks at the concerns around introducing paying for performance that are unique to the not-for-profit sector and how they impact the options available.

Posted by Justine Woolf on
05 May 2020

Coronavirus: innovative ways employers can adjust pay and contracts to save jobs

Many businesses right now are in survival mode, as the spread of the Coronavirus causes economic disruption akin to the 2008 financial crash. So, what are companies doing? Sarah Lardner takes a closer look at the steps business are taking to secure their business for the long term.

Posted by Sarah Lardner on
28 April 2020

Does your sales bonus scheme still work in challenging times?

Many companies are stuck between having to pay out sales bonus without results, or having to furlough these employees and removing their earning potential. Sarah Lardner explains how to make your sales bonus scheme agile enough to help your business through the Covid-19 situation.

Posted by Sarah Lardner on
21 April 2020

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