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Category: Reward

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Reward Accessibility - What can we do to make it better?

Reward

Nowadays employment benefits are no longer seen as a ‘nice to have’ but as an essential part of the total reward package. Sometimes they can even be the deciding factor in recruiting or retaining talent when compared with competitors. Here are some key points worth considering when looking at making our reward offerings as accessible as possible.

Posted by Holly Coe on
17 May 2024

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Unlocking Happiness at Work: The Role of Reward and Recognition

Reward

In today's fast-paced business world, the pursuit of hard targets and productivity can often out-muscle the more intangible, softer benefits to be derived from a happy workplace.

Posted by Lisanne Winter on
19 March 2024

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Seven Key Pay and Reward Trends in 2024

Reward | Pay

Navigate the complex landscape of pay reviews in 2024 and beyond with Innecto's expertise.

Posted by Simon Cook on
18 January 2024

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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

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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

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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

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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.

Posted by Spencer Hughes on
21 October 2022

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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.

Posted by Sarah Lardner on
22 September 2022

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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

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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.

Posted by Spencer Hughes on
26 August 2022

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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.

Posted by Lisa Trewhitt on
18 August 2022

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