Their challenge
Bloomsbury recognised the need to optimise its pay practices and structure to ensure equitable pay across different roles within the organisation. They also aimed to establish a transparent framework for career progression and development, fostering employee satisfaction and engagement.Our solution
Our consultancy team, Innecto, embarked on a comprehensive project to address Bloomsbury's challenges effectively. This included:Understanding Client Needs: We conducted extensive interviews and workshops with key stakeholders, including HR, senior leadership, and department heads, to grasp the organisation's unique culture, business objectives, and talent management requirements.
Salary Benchmarking: Leveraging an extensive database and industry expertise, we conducted thorough analyses of salary trends and benchmarks within the publishing sector and wider media sector. This involved comparing salaries and structures for various job roles across similar-sized publishing houses in the UK and the US.
Job Evaluations: Collaborating closely with the client's HR team and senior leaders, we reviewed and refined existing job descriptions to ensure clarity, consistency, and relevance to current demands. Job evaluations were conducted to assess the relative worth of each position based on factors such as responsibilities, influence, and impact.
Career Pay Banding Framework: Building upon the insights gathered from salary benchmarking and job evaluations, we developed a comprehensive career pay banding framework tailored to Bloomsbury’s structure and people & talent strategy. This framework defined clear salary ranges for different job levels, providing transparency and guidance for both employees and managers regarding compensation expectations and advancement opportunities.
Implementation Support: We provided hands-on support and guidance to Bloomsbury's People team throughout the project, ensuring the smooth implementation of the recommended changes. This included communications around the new approach to pay, drafting of FAQs and a new Pay Policy, and webinars to articulate the new framework.
The outcome
The implementation of our recommendations yielded significant benefits for Bloomsbury Publishing, including:
- Competitive Pay Bands: By aligning salaries with industry benchmarks, Bloomsbury was able to offer a clear pay banding structure aligned to career progression that attracted top talent and reduced turnover rates.
- Transparency and Equity: The introduction of a career pay banding framework enhanced transparency and equity in salary practices, providing clarity and fostering trust and morale among employees.
- Improved Talent Management: Clear career progression paths and defined salary ranges empowered employees to take ownership of their professional development, leading to increased engagement and retention.
Through a strategic approach to salary benchmarking, job evaluations, and the creation of a career pay banding framework, our consultancy supported Bloomsbury in enhancing its People practices, fostering a culture of fairness, transparency, and continuous growth. By aligning pay with market standards and providing clear pathways for career advancement, the client is poised to thrive in an increasingly competitive industry landscape.
Client feedback
“Bloomsbury has grown both organically and by acquiring many organisations. The company had a strong desire to have a single structure that would create alignment across the organisation and prepare for further expansion. Although better salary management and benchmarking were important priorities, the main reason for this was in response to employee requests. Our employees asked for transparency, clarity, and career development. The framework isn't a silver bullet, but it provides a well-considered approach to pay, which was requested by our employees.”
Company Profile
Industry TV, Media and Publishing
No. of Employees 1,000
Website www.bloomsbury.com/uk
