Can skills-based pay work?

Skills based pay

Becoming a skills-first organisation means identifying the skills relevant to work and matching people with the required skills to the tasks at hand. The simple answer is that yes it can be done, if it is done correctly: matching employees to those skills and remunerating based on that requires a considered approach.

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.

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.

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.

Reward Accessibility - What can we do to make it better?

Reward

Nowadays employment benefits are no longer seen as a ‘nice to have’ but as an essential part of the total reward package. Sometimes they can even be the deciding factor in recruiting or retaining talent when compared with competitors. Here are some key points worth considering when looking at making our reward offerings as accessible as possible.

Are you a triangle or a diamond? Four steps to understanding & using organisational design

Reward Consultancy | Reward Intelligence | Organisational Design

Do you know the 'shape' of your organisation? In this blog, Sarah Lardner explores the value of Organisational Design and shares the steps to getting the right people with the right skills, the right roles and levels. Will your current OD shape align with your aspirational one...?

Meet the Team - Sarah Nash

Meet The Team

Sarah shares her experience of how Reward has changed in the last 9 years of her being at Innecto. Click here to read more about her journey and what excites her the most about her role.

Pay Benchmarking: Best Practices and Strategies

Pay Transparency

In today’s competitive business landscape, organisations are striving to attract and retain top talent while ensuring fair and competitive compensation practices. In the interests of balancing the books and maintaining a strong foothold in the market, one crucial piece in this tricky jigsaw is pay benchmarking. This invaluable process provides insight into industry standards and helps organisations of all sizes make informed decisions regarding compensation.

Meet the Team - Stephanie Meech

Meet The Team

Introducing Stephanie Meech, our next feature in the Meet the Team Series! Learn what initially drew Stephanie to a career within Reward and what excites her the most about it.

Reward & Flexible Working – how can pay & benefits support your remote-first or in-person culture?

Flexible working | Hapi

Before flexible working became the norm, the link between reward and an employee’s place of work was limited to compensation. Typically, this is to compensate for working in regions where the cost of living is higher – usually in the form of higher base pay or an allowance.

Meet the Team - Holly Coe

Meet The Team

Meet Holly Coe, our Senior Consultant and newest addition to our team. Learn how Holly accidentally fell into her career within Reward.

Green benefits to help your organisation improve your ESG credentials

While Governance measures have been around for a while within executive incentives - particularly within annual bonuses and often sitting within a strategic or personal scorecard – policies and targets carrying either a Social or Environmental incentive are less common. Typically, until now they have only been present within organisations with a social purpose or PLCs. That said, it is becoming far more prominent for all three to be considered as part of an overall cultural or organisational strategy piece.