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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

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11 Steps to boost your Sales Incentive Scheme

Pay Structure | Pay Review

For a sales team to perform and achieve at an optimum level, it needs three things: a well-designed sales plan; data and insights for forecasting, planning, and aligning their efforts to the business’s goals; and the tools to enable performance (training, environment, culture and CRM systems). Too often we see bonus schemes that are over-engineered, hard to understand and ultimately demotivating, so how can you review your current plans?

Posted by Sarah Lardner on
26 May 2023

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What next for young workers after rise in minimum wage levels?

National Living Wage | Pay Progression | Pay Data

On both a national and company-led level, pay increases must be matched by initiatives to create opportunity and enable progression.

Posted by Simon Cook on
18 May 2023

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Our Quarterly Insights are here - Pay Transparency Special Edition

Pay Transparency | Quarterly Insights

This quarterly report draws together the latest insights on pay and reward across a range of sources. It outlines the current analysis and future forecasts based on available data to support employers.

Posted by Simon Cook on
16 May 2023

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Strategy & Policy: How to create a reward and benefits strategy that is flexible enough to support employees of all ages

Benefits audit | Benefits intelligence | Flexible Benefits

In the consumer world, companies know how important it is to understand their customers’ diverse needs. By doing this, they can tailor products and services based on demographic, behaviour and habit to maximise value.

Posted by Sarah Lardner on
11 May 2023

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Reward Strategy: How to avoid reward structures that can inadvertently encourage overwork and poor working cultures

Reward Strategy

At Innecto, we encourage our clients to really think about who they are as an organisation, and what they are wanting to achieve when we talk about defining culture. Once that has been established, we can begin to question whether the existing reward structures are supporting or impeding those aspirations.

Posted by Justine Woolf on
04 May 2023

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Remote working in the UK vs International - what are the differences and why do they exist?

Remote Working

In the past few years we have seen many international employers come out with clear direction on how to manage pay for remote workers, while in the UK there seems to be a nervousness around changing the status quo. In some ways this comparison is easy to explain but there are factors at play which arguably make the UK situation more complex for employers.

Posted by Spencer Hughes on
27 April 2023

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Government guidance on ethnicity pay reporting: Innecto analysis

Ethnicity Pay Reporting

On 17 March 2022 the policy paper Inclusive Britain: Government Response to the Commission on Race and Ethnic Disparities was published, pledging in action number 16 to "address the challenges with ethnicity pay gap reporting to support employers who want to demonstrate and drive greater fairness in the workplace."

Posted by Sarah Lardner on
21 April 2023

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Working in partnership with Innecto

One of the questions we ask clients when we start any project is why did you choose to work with us? The resounding answer we get back every time is that Innecto consultants give their clients confidence – confidence that we know what we are talking about, confidence we will get the job done and as importantly, confidence that they will learn & enjoy working with us. With a NPS of over 95%, we are confident we are getting it right!

Posted by Justine Woolf on
14 April 2023

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Educating and negotiating with unions around pay and benchmarking

Unions

When working with trade unions it is almost always useful to take a step back at the outset and ask one key question: when it comes to reward, how can we make sure that everyone is speaking the same language and understanding things from both sides?

Posted by Justine Woolf on
06 April 2023

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5 years of gender pay – What have we learnt? What has changed? How can we progress beyond headline reporting?

Gender Pay | Gender Pay Gap | Gender Pay Reporting

Once every year thousands of companies are required to publish their new gender pay gap figures, and that ‘snapshot’ date has just ticked over for 2023. For most public authority employers, the clock strikes at midnight on 30 March and for everybody else the figures are due five days later at midnight on 4 April.

Posted by Sarah Nash on
31 March 2023

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Debt awareness week: A spotlight on Gambling

Debt Awareness

Much of the HR focus in the past year has been geared towards the cost-of-living crisis and ways in which employers can help workers manage debt and overcome financial challenges. One related area that has received less attention is the financial hardship and stress caused by gambling. As a trustee for BetKnowMore, a charity that addresses gambling-related harm in UK communities, the subject is pertinent and personal to me.

Posted by Justine Woolf on
24 March 2023

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