Insights : Innecto Reward Consulting

Category: Performance Related Pay

The Future of Performance-Based Pay Schemes

Long Term Incentives | Performance Related Pay | LTIP | Pay

Employee motivation is crucial to any organisation because it helps kick-start or maintain a desired level of engagement, productivity and performance. Regardless of their role or level, workers who feel motivated are more likely to invest in the long-term goals of a business, take an interest in the setting of those goals and contribute to meeting or surpassing them.

Posted by Sarah Lardner on
11 October 2024

Three considerations when setting employee performance targets, pay and bonuses in a volatile market

How do you balance doing the right thing by your employees in terms of bonus and commission when business performance is not where you expected it to be? This is a hard question to answer and there will not be one approach that works for every business. However, there are questions all businesses can ask themselves to help navigate the challenges with performance targets and variable pay.

Posted by Cathryn Edmondson on
19 August 2020

Paying for performance in the not-for-profit sector: Part 2

This week Justine Woolf presents Part 2 of her How-To on performance-based pay in the not-for-profit sector. She looks at how to decide if it's right for your organisation and if so, how to make it a success.

Posted by Justine Woolf on
12 May 2020

Paying for performance in the not-for-profit sector Part 1

Bonus | Performance Related Pay | Pay & Reward | Pay Structure

Those of you working in the not-for-profit sector will recognise the dilemma of paying for performance and whether it’s something your organisation should do or not. Justine Woolf looks at the concerns around introducing paying for performance that are unique to the not-for-profit sector and how they impact the options available.

Posted by Justine Woolf on
05 May 2020

Does your sales bonus scheme still work in challenging times?

Many companies are stuck between having to pay out sales bonus without results, or having to furlough these employees and removing their earning potential. Sarah Lardner explains how to make your sales bonus scheme agile enough to help your business through the Covid-19 situation.

Posted by Sarah Lardner on
21 April 2020

Planning for the Other Side

Senior Reward Consultant Emer Bucukoglu explains why now is the time to take a considered approach to reward, review your current reward strategy and policies and explore smarter, more agile reward solutions.

Posted by Emer Bucukoglu on
09 April 2020

3 steps to building a transparent and fair bonus policy

Sarah Lardner's guide to designing a bonus scheme that works for business leaders and employees has three key stages: Exploration, Analysis and Develop. Read more...

Posted by Sarah Lardner on
28 January 2020

Get ahead of Pay Review in 2020

Happy New Year! Kickstart 2020 with Justine Woolf's handy guide to Pay Review, Performance Review and Bonus Review.

Posted by Justine Woolf on
07 January 2020

How to use bonuses to greatest effect and motivate your people

Bonus | Performance Related Pay | Employee engagement | Performance

Current research shows that 59% of employees rated job enjoyment as a top three motivator, but, interestingly, only 13% - a surprisingly low number – of employees said that they are motivated by a bonus. In the case where money is almost seemingly no object though, then what can an employer do to ensure their staff are motivated enough? And can the traditional bonus still be used in different ways to ensure higher performance and happier employees? Spencer Hughes explores.

Posted by Spencer Hughes on
30 September 2019

How to give your incentives an MOT

When did you last do a health check of your incentive schemes? Far from contributing to the success of the organisation, your incentive scheme may have quite the opposite effect. Here, James Bigus looks at three factors to bear in mind when designing a new incentive scheme, or when reviewing an existing one.

Posted by James Bigus on
09 July 2019

Making a merit-based pay model work for your business

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.

Posted by James Bigus on
10 June 2019

Public vs. Private sector reward: Who’s better off?

There's always debate over the differences between public and private sector pay and who fares better. In this blog, Justine Woolf discusses this disparity and how organisations can align pay and reward to bring employees together within a coherent, overarching framework.

Posted by Justine Woolf on
05 March 2019

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