Category: Pay Progression
Our Q1 Quarterly Insights are here!
Simon Cook | 23 May 2024
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.
Support with pay progression and targeting pay awards - initiatives in a changing landscape
Cathryn Edmondson | 16 June 2023
Pay progression can be managed in a variety of ways and each company and set of employees will bring a unique set of challenges. In looking to find the best way through pay progression it is important to assess the many different methods and practices available to companies in measuring employees and assessing their value to the business.
Innovating with pay strategies – thinking outside the box when under inflationary pressure
Cathryn Edmondson | 01 June 2023
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.
What next for young workers after rise in minimum wage levels?
Simon Cook | 18 May 2023
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.
How to mitigate pay pressure, especially in hard to recruit sectors
07 July 2022
Pay Fairness | Pay & Reward | Pay Progression | Pay Review | Pay Data
The current cost of living crisis is bringing with it a whole new wave of pay pressure for employers, but traditionally pay pressure can arise when you have an urgent need for hot skills.
The big squeeze: 4 ways to handle low pay increases
12 November 2019
HR Reward | Reward Consultancy | Pay framework | National Living Wage | Organisational Design | Low Pay | Pay Progression | Skills based pay | Pay Structure
The government's low pay increases in recent years have been ambitious and caused budgeting headaches across businesses with a large proportion of low pay employees. With rates set to keep rising, how can you handle these challenges and make them work for your business?
Making a merit-based pay model work for your business
10 June 2019
Pay Transparency | Performance Related Pay | Pay Fairness | Pay & Reward | Pay trends | Pay framework | Pay Progression | Pay Structure | Reward Strategy | Pay benchmarking | Pay Review | Mosaic
With newly qualified lawyers preparing to join their new employers shortly, many law firms are in the process of reviewing their pay bands and pay structures. Once again, the discussion surrounding the benefits and drawbacks of the traditional PQE-based pay model have begun, and the merits of alternative pay models, have been reopened.
4 steps to creating the perfect pay structure
02 April 2019
HR Reward | Reward Consultancy | Analytics | Pay Progression | Pay Structure
Pay structures are a great method of simplifying reward mechanisms and managing career development and salary progression - but how to design one that reflects your organisation's unique needs? Reward Consultant Ben Rowley takes you through 4 crucial design steps.
Paying for skills: the rhetoric, the reality, the need for resurgence
25 September 2018
HR Reward | Reward Consultancy | Reward Intelligence | Pay Progression | Skills based pay
We’re delighted to bring you a guest blog from Dr Duncan Brown, Head of HR Consultancy at the Institute for Employment Studies. Duncan discusses the current status of skills-based pay, and its potential for improving UK pay levels and productivity.
Baby steps to solving the Gender Pay Gap
15 May 2018
HR Reward | Reward Consultancy | Performance Related Pay | Pay Fairness | Gender Pay | Gender Pay Gap | Gender Pay Reporting | Pay & Reward | Women in leadership | Pay Progression | Recognition | Reward
How to close the Gender Pay Gap? It's a complex question, but Innecto's James Bigus has one suggestion - make your workplace family-friendly and encourage parents to 'share the load' on childcare.
3 ways to manage National Living Wage increases
23 April 2018
HR Reward | Reward Consultancy | Performance Related Pay | Reward Intelligence | Benefits intelligence | Analytics | National Living Wage | Low Pay | Pay Progression | Pay benchmarking | Reward
With the NLW on target to reach nearly £9 an hour by 2020, it’s vital to work out how you’ll absorb such a large hike in your wage bill over the next two years. Here’s 3 ways to manage the increase and make your pay pot go further.
The New World: How to Link Evolution in Performance Management to Pay Decisions
12 December 2017
HR Reward | Reward Consultancy | Performance Related Pay | Reward Intelligence | Pay & Reward | Measuring pay | Employee engagement | Employee communications | Engagement | Analytics | Gen Y | Performance Management | Pay Progression
This week, Deborah Rees-Frost looks at addressing changes in Performance Management approaches and how they can cause problems in rewarding Talent. How can we retain the best from the new world of open discussion between employee and manager and yet develop a workable link to pay decisions?
