Insights : Innecto Reward Consulting

Category: Pay Fairness

Going beyond the headlines - what can we do to improve our pay gaps?

It’s been 7 years since the Government introduced annual Gender Pay Gap reporting regulations for companies with 250+ employees, and whilst the national median pay gap has narrowed since then, progress has been somewhat subdued with an overall decrease of just 4%. But why is this the case?

Posted by Genni King on
05 April 2024

Greater Pay Transparency is coming – How to ensure you have an equitable and gender-inclusive approach to pay and bonuses

Pay Transparency | Pay Fairness

Reflecting on Equal Pay Day, the urgency for Pay Transparency is underscored as companies grapple with the complexities and concerns surrounding openness in salary structures.

Posted by Simon Cook on
30 November 2023

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

Equal Pay: Don't get stumped by pay equity

Pay Fairness | Pay Data

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.

Posted by Sarah Lardner on
01 September 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

Pay in a Recession: How to grow in-built Resilience

Pay Fairness | Pay & Reward | Resilience

Whether the current economic climate is confirmed as a recession or not, there is no question that we are in the middle of a cost-of-living crisis. According to Resolution Foundation, a typical disposable income for a working-age household is on track to fall by 3% this financial year, and by 4% in the year to April 2024, worse than the last financial crisis. The figures vary but the key message is the same: employees are going to feel worse off in real terms.

Posted by Sarah Lardner on
10 February 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

How to utilise workforce data to inform pay fairness in your reward strategy.

Fairness is referenced by many organisations in their pay principles, and whilst none of us set out to pay unfairly, the reality is most reward frameworks are seen as unfair by employees.

Posted by Justine Woolf on
16 June 2022

What is base pay in your organisation?

Pay Fairness | Pay & Reward | Pay Structure | Pay Review

There are many ways to manage a pay review budget and approach pay progression. However, before we start thinking about the pros and cons of those different approaches, it is important first to be clear about what Base Pay is for in your organisation.

Posted by Cathryn Edmondson on
29 April 2022

Back to School! The nuances of how Teachers are paid

Pay Transparency | Pay Fairness | Equal Pay | Measuring pay

Teachers are a good example of a variable or irregular work pattern, so how can you handle transparency in roles that don’t work your typical nine to five, and how can these roles be fairly and equally compared with the traditional Monday to Friday workforce?

Posted by Sarah Nash on
10 September 2021

How to promote fairness and transparency through Job Evaluation

Pay Fairness | Job evaluation | Transparency

Fairness and transparency are both cornerstones of Responsible Reward. Spencer Hughes looks at how both can be achieved by correctly executing and implementing Job Evaluation with a logical and consistent methodology.

Posted by Spencer Hughes on
06 May 2021

Pay Inequality: what could go wrong?

Pay Fairness | Equal Pay | Equal Pay Audits

Most organisations do not deliberately set out to discriminate in terms of pay, but given the c.29,000 claims a year it’s clearly not uncommon. Recent headline-grabbing cases have detailed staggering settlements, but the implications of not establishing pay equity can span much further than this. Cathryn Edmondson discusses.

Posted by Cathryn Edmondson on
18 March 2021

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