Their Challenge

Old Mill had grown organically into a trusted provider of financial services, but needed help establishing a fair and consistent pay policy across the business. Old Mill faced a number of problems: first, due to a legacy of mergers and acquisitions, different strands of the business were running separate pay arrangements. Second, staff lacked trust and understanding about how their pay was decided. Finally, as the business grew it needed a more formal pay governance structure based on clear strategic goals.

Our Solution

It was clear that any new reward structure needed to support Old Mill’s evolving business agenda. Innecto therefore started by working closely with the internal HR team to understand key priorities, and agree strategic positioning and targets. We began with well-defined job descriptions for Old Mill’s roles as a firm foundation for using our job evaluation software Evaluate™; this in turn enabled fair and bias-free levelling. Using the Evaluate levels, we built a pay framework for the whole business, incorporating four job families with their own associated pay bands. Finally, we introduced a performance management structure which linked good performance with higher pay. It was important to keep the Exec team engaged throughout, to ensure that the new schemes would land successfully and stay in place.

"Unlike other consultancies, they didn’t just hand over their solution and leave – having worked in-house herself, our client director knew the importance of successfully landing the project and supported us throughout this challenging process.”