Insights : Innecto Reward Consulting

Category: Reward Strategy

REBA: Reward & Compensation - What are the longer-term implications of high inflation on reward strategies?

Reward Strategy | Reward | High Inflation

The ongoing disputes around pay this year have led to months of strikes across the public sector and have been a significant barometer in a tempestuous year. The impact of the cost-of-living crisis has been catastrophic for many workers in terms of their spending power. Organisations across every sector have come under pressure to respond as employees seek higher salaries in a competitive recruitment market.

Posted by Sarah Lardner on
11 August 2023

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

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 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

20 years in Reward: how the landscape has changed since 2002

Reward Consultancy | Pay & Reward | Reward Strategy | Reward

On Innecto’s 20-year anniversary, Director of Consulting Justine Woolf reflects how the landscape of pay and reward has changed since 2002.

Posted by Justine Woolf on
12 September 2022

How to use non-monetary forms of reward as an alternative to bonuses

Inadequate total compensation can be a contributing factor to people leaving their jobs and sometimes there is no magic wand that non-monetary reward can wave. Having said that, it can significantly enhance any company’s offering, allow you to express your culture and demonstrate how you would like to treat your employees. Here are some key ways to work non-monetary reward into your overall package.

Posted by Spencer Hughes on
26 August 2022

How organisations are aligning their digital strategy with their people strategy

Reward Strategy | Reward

People Strategies are often well-considered and have the approval of the Board, but implementation and deployment are overlooked and under-budgeted. Ensure your HR digital strategy is part of your people strategy for continued success.

Posted by Sarah Lardner on
19 May 2022

Maximising your pay pot spend

Pay & Reward | Reward Strategy | Pay Review | Advance

Pay review and annual bonus review are notorious for being the busiest and most pressured time for HR teams. Working through the pay review process as well as keeping a company-wide perspective can be a real challenge.

Posted by Sarah Lardner on
26 January 2022

Six tips to test the transparency of your reward and benefits communication strategy

Employee engagement | Communications | Reward Strategy | Transparency

Perceptions of unfairness in reward, regardless of whether there is any truth behind the perception, can be extremely damaging to the culture and productivity of a business, so how can we test the transparency of our communication? Cathryn Edmondson offers six ways you can try.

Posted by Cathryn Edmondson on
01 April 2021

What are the essential elements of a responsible reward strategy for both executives and employees?

Reward Strategy | Responsible Reward

As we lead into 2021, you should consider a renewed focus on your reward strategy – looking with a fresh lens at how you make sure your reward is better aligned to the needs of your employees, your business and the wider society you operate in.

Posted by Justine Woolf on
28 January 2021

Reframing reward post-COVID: create a foundation for recovery and growth

Moving from reactive to proactively assessing current state against the future aspiration will place HR in control and will enable space to create a compelling, effective and sustainable people strategy that can support the business to transition from the recovery phase to the growth phase. Sarah Lardner explains how.

Posted by Sarah Lardner on
07 January 2021

Why diversity and inclusion should be influencing your reward strategy

Equal Pay | Reward Strategy | Diversity | Ethnicity Pay Reporting

Whilst it is tempting during this period of uncertainty to invest less time in addressing diversity and inclusion initiatives, the consequences of placing them on the back burner are far reaching. Emer Bucukoglu suggests a few pointers to ensure you don't take your eye off the ball.

Posted by Emer Bucukoglu on
17 December 2020

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