Insights : Innecto Reward Consulting

Debt awareness week: A spotlight on Gambling

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

Reward and recognition: Are you making the most of your recognition programme? How to make it work harder to boost engagement

Recognition | Reward Strategy | Reward

In the current climate a sound Recognition Strategy is a really good way to keep employees motivated and engaged. If companies cannot afford ad hoc pay increases – and many cannot – recognition can reward staff in a way that encourages positive behaviours and reflects the company’s culture. But how can you ensure that your Recognition scheme is achieving its potential?

Posted by Justine Woolf on
17 March 2023

How organisational design can help mitigate staff shortages

Evaluate | Job Evaluation Software | Job evaluation

On 20 February, BBC Online published an article entitled How shrinking teams are pushing workers to the brink. It outlines how staff shortages are leading to workers having to perform multi-faceted roles, take on heavier workloads and complete tasks beyond their job remit.

Posted by Sarah Lardner on
03 March 2023

Managing Pay Review – Five key areas for HR to address

Pay Review | Advance

When it comes to Pay Review, HR can often find themselves losing valuable time in complex manual processes and ultimately without the tools they need to make informed decisions. Here are five common areas of concern where Innecto's Advance tool can almost certainly help.

Posted by Spencer Hughes on
24 February 2023

Recognition – Top 5 considerations for implementing a new scheme

Recognition

In the current climate recognition is a really good way to keep employees motivated and engaged. If companies cannot afford ad hoc pay increases – and many cannot – a sound recognition strategy can reward staff in a way that encourages positive behaviours and reflects the company’s culture. Here are five key considerations when looking to implement a recognition scheme.

Posted by Justine Woolf on
17 February 2023

Pay in a Recession: How to grow in-built Resilience

Pay Fairness | Pay & Reward | Resilience

Whether the current economic climate is confirmed as a recession or not, there is no question that we are in the middle of a cost-of-living crisis. According to Resolution Foundation, a typical disposable income for a working-age household is on track to fall by 3% this financial year, and by 4% in the year to April 2024, worse than the last financial crisis. The figures vary but the key message is the same: employees are going to feel worse off in real terms.

Posted by Sarah Lardner on
10 February 2023

Myth-busters 2023: Tackling common misconceptions in pay and reward

We asked our consultants and analysts to raise some common misconceptions and explain where they think misunderstandings may lie.

Posted by Cathryn Edmondson on
03 February 2023

Taking the Pain out of Pay Review

Pay Review | Advance

Pay Review time has arrived again and for many at the moment it feels like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Sarah Lardner on
27 January 2023

Building Pay Resilience in a volatile market

Pay Data | Resilience

On 17 January BBC online published an article entitled Cost of living: Five tips for asking for a pay rise. It is one of many articles currently being published on the topic, but the website and app are among the most-read in the UK and the article, which offers ‘five tips on how to negotiate for more money' will reach potentially millions of eyeballs.

Posted by Sarah Lardner on
20 January 2023

The key technology changes to be aware of as we plan Reward Strategy for 2023

HR Tech is evolving to meet the ever-changing needs of modern business. Previously companies acquired an Enterprise solution like Oracle or PeopleSoft to ‘do everything’. Now HR Directors can pick and choose between a range of products on different platforms with an expectation that they can integrate and ‘talk to each other’. It sounds straightforward but the goalposts are constantly shifting so it is important to peel back the layers.

Posted by Sarah Lardner on
13 January 2023

How companies can retain and attract the right talent in 2023

Employee engagement | Talent | Recruitment | Retention

The current economic climate looks set to prevail well into 2023 so, with high inflation, a squeeze on talent and market volatility, challenging times lie ahead. I can see companies benefiting from investing within, both in terms of nurturing home-grown talent and in fixing any culture and connectivity glitches many have experienced and accepted since the pandemic. Meanwhile, attracting the best talent is likely to hinge on nailing the all-important employee value proposition, while continuing to focus on the traits of equity and transparency so important to the younger generation.

Posted by Justine Woolf on
06 January 2023

How to use your reward strategy to support good performance

Performance Management | Reward Strategy | Performance | Reward

Every client we have is likely to want some kind of high performance culture, but where some fall down is by not making it clear enough what high performance means. For some it leans towards performance outcomes and specified KPI’s, for others around driving workers’ skill development and competency levels. It is very difficult to properly align your reward to support performance, whatever it is, without first knowing what this means to your organisation, and then getting real clarity around the purpose of each aspect of your reward suite.

Posted by Cathryn Edmondson on
22 December 2022

Insights