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How to use your Reward Strategy to support good performance in 2024

Reward Strategy

Unlock Success in 2024: Learn Key Strategies for Aligning Your Reward Strategy.

Posted by Simon Cook on
16 November 2023

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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

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Practical measures to tackle pay gaps

Gender Pay | Gender Pay Gap | Gender Pay Reporting

Instances of unequal pay can manifest all too easily, but they can also be guarded against by building a greater understanding of the data available, and then auditing and benchmarking, which often requires outside help. Here are some key areas for companies wanting to make genuine strides in this area.

Posted by Justine Woolf on
03 November 2023

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Four essential steps to address pay gaps and equality

Equal Pay | Gender Pay | Gender Pay Gap | Gender Pay Reporting

According to a World Economic Forum Gender Gap Report published in July 2022 the UK’s gender pay gap ranking is 22 out of 146 countries, with Iceland, Finland and Norway topping the table with the smallest gaps. At the current rate of change, the report suggests the UK’s gender pay gap will take 132 years to close entirely. A sobering thought.

Posted by Justine Woolf on
27 October 2023

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Our Autumn 2023 Quarterly Insights are here!

Quarterly Insights

After a year of balancing budgetary pressures with the rising cost of living, the dust may finally begin to settle in 2024. However, whilst inflation rates are falling, it is still much slower than anticipated. Some organisations are also finding themselves wrestling with the knock-on impact of wage compression triggered by increases to the national living wage. Whilst others are continuing to fight for talent in key technical or specialist areas where skills are scarce.

Posted by Simon Cook on
12 October 2023

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Reward strategy: How to ensure your reward strategy supports the employee experience at different life stages

Employee Experience | Employee Value Proposition

Paving the path to employee satisfaction: crafting a dynamic reward strategy aligned with different stages of life.

Posted by Sarah Lardner on
05 October 2023

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Reviewing or designing Bonus and Incentive schemes

Bonus | HR software

Mastering the art of Bonus and Incentive scheme design: A checklist for HR professionals and managers to drive company success.

Posted by Sarah Lardner on
27 September 2023

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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

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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

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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

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Choose the right data for pay benchmarking

Pay benchmarking | Pay Data

Selecting the right pay data to benchmark jobs in your organisation can be challenging at the best of times, not helped by the variety of options available out there, which many are being positioned as ‘real-time’ data.

Posted by Sarah Lardner on
25 August 2023

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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

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