Category: Reward
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?
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.
How to distinguish between bonuses and recognition and ensure both are valued
Bonus | Recognition | Reward
There is a distinct difference between a one-off reward and the steady drip-feed of recognition. Each carries different incentives, drives different behaviours and comes into its own at different times. Here we examine the key differences and how you can reach the holy grail of having them work together in perfect harmony.
Cost of living: A blend of measures to help navigate your way through
Reward | Flexible Benefits | Cost of Living
Post-Covid, we are experiencing the largest spike in inflation for 30 years, forecast to peak close to 11 percent in the fourth quarter of 2022. Earnings are expected to rise by six percent this year but, with prices settling at a higher level relative to incomes, real household incomes are forecast to fall by 2.5 percent in 2022. More telling still, they will probably remain 7 percent below where they were pre-Covid until 2026 or beyond.
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.
How to use non-monetary forms of reward as an alternative to bonuses
Pay & Reward | Benefits audit | Benefits intelligence | Employee engagement | Reward Strategy | Reward | Flexible Benefits
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.
How to address the Great Resignation through employee benefits
Employee engagement | Engagement | Reward | Wellbeing | Flexible Benefits | Remote Working
Coming out of the pandemic, data on the Great Resignation around employee discontent and ultimately turnover is very mixed. Some organisations looked after their employees during Covid, kept them connected, allowed them to work remotely and showed concern for their wellbeing.
Drive and support workplace inclusivity with reward and recognition
Reward Consultancy | Total reward | Recognition | Reward | Responsible Reward
For a company to get reward and recognition right in a way that fosters workplace inclusivity, its policies and practices need to encompass everybody regardless of age, background, gender or ethnicity. Everyone should be treated the same, with no bias. It’s a very broad piece to address.
How to provide adjustments without breaking existing pay structures
Pay & Reward | Pay Structure | Pay Review | Reward | Pay Data | Cost of Living
Linkedin is an extremely powerful tool for engagement but it is creating new headaches for employers already struggling in a tricky market.
How organisations are aligning their digital strategy with their people strategy
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.
GUEST BLOG: How tech benefits can ease the burden on take-home pay
Most of us are feeling the pinch currently - the cost of fuel at the pumps is reaching new records regularly (despite the cut to fuel duty announced by the Chancellor in the latest budget). Gas and electricity prices are soaring with a further price increase coming in October, and the rate of inflation is at a 30-year high.
GUEST BLOG: Employee Appreciation Day: Appreciate employees all year round with reward and recognition
Motivation | Recognition | Reward | Employee Experience
4th March is Employee Appreciation Day – a great opportunity to say an extra “thank you” and make your staff feel valued.