Insights : Innecto Reward Consulting

Category: Pay Review

Top 5 things to consider during this year’s pay review process

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

Posted by Justine Woolf on
06 September 2024

How to streamline pay review and take away the pain

Pay Transparency | Pay Review | Pay

Pay review for most businesses takes place annually, usually effective at the beginning of a new financial year. When employees receive a letter or email confirming a pay change, it is a notable ‘event’ in any company’s year, and one which many people both look forward to and rely upon.

Posted by Holly Coe on
29 May 2024

Quarterly Focus: Pay Review Lessons

Pay Review | Pay

The first quarter of the year provides the initial indications of the year ahead with January and April pay settlement announcements. With the majority of pay reviews concentrated in this early part of the year, alongside increases to the government’s minimum wage levels, it provides a clear steer for the year ahead. Drawing on our insights from across sectors from our clients, we have summarised the key lessons from this year’s pay reviews.

Posted by Simon Cook on
24 May 2024

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

Smaller Pay Rises This Year? The Path Forward for Pay Review 2024

Pay Review | Advance

Pay reviews can be difficult to manage. In the past, pay pots have enabled people leaders and finance directors the ability to allocate awards effectively, given the cost of living and labour market conditions and address any anomalies. However, this year presents new challenges as pay awards are likely to be more modest, with average pay settlements expected to be around 4%, down from over 6% in the past two years, as predicted by Innecto and confirmed by The Chartered Institute of Personnel and Development (CIPD) recent report.

Posted by Sarah Lardner on
16 February 2024

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

Flexible working: can the genie go back in the bottle?

Agile working | Pay Review

Embracing the new normal: The value of flexible work and the challenge of pay structures in a post-pandemic world.

Posted by Justine Woolf on
21 September 2023

Pay Review: what’s your strategic approach in Q4?

Pay Review | Advance

Pay Review time has arrived again which may feel like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Justine Woolf on
15 September 2023

Pay Review - risks in processes and how to mitigate

Pay Review | Advance

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.

Posted by Sarah Lardner on
18 August 2023

11 Steps to boost your Sales Incentive Scheme

Pay Structure | Pay Review

For a sales team to perform and achieve at an optimum level, it needs three things: a well-designed sales plan; data and insights for forecasting, planning, and aligning their efforts to the business’s goals; and the tools to enable performance (training, environment, culture and CRM systems). Too often we see bonus schemes that are over-engineered, hard to understand and ultimately demotivating, so how can you review your current plans?

Posted by Sarah Lardner on
26 May 2023

Managing Pay Review – Five key areas for HR to address

Pay Review | Advance

When it comes to Pay Review, HR can often find themselves losing valuable time in complex manual processes and ultimately without the tools they need to make informed decisions. Here are five common areas of concern where Innecto's Advance tool can almost certainly help.

Posted by Spencer Hughes on
24 February 2023

Taking the Pain out of Pay Review

Pay Review | Advance

Pay Review time has arrived again and for many at the moment it feels like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Sarah Lardner on
27 January 2023

Insights

Insights

Category: Pay Review

Top 5 things to consider during this year’s pay review process

How to streamline pay review and take away the pain

Quarterly Focus: Pay Review Lessons

Our Q1 Quarterly Insights are here!

Smaller Pay Rises This Year? The Path Forward for Pay Review 2024

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

Flexible working: can the genie go back in the bottle?

Pay Review: what’s your strategic approach in Q4?

Pay Review - risks in processes and how to mitigate

11 Steps to boost your Sales Incentive Scheme

Managing Pay Review – Five key areas for HR to address

Taking the Pain out of Pay Review

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