Category: Pay Fairness
Pay Equity: Ensuring Fairness and Equity in Compensation
Spencer Hughes | 09 August 2024
Pay Fairness | Equal Pay | Evaluate | PayLab | Pay
Pay equity is the practice of paying equally for work of equal value. But what do we mean by work of equal value? And how can we ensure that we are using the right measure for that? There are two key pillars in ensuring fairness and equity in pay: the reward framework and the implementation and communication of that framework.
Going beyond the headlines - what can we do to improve our pay gaps?
Genni Fisk | 05 April 2024
Pay Transparency | Pay Fairness | Gender Pay | Pay
It’s been 7 years since the Government introduced annual Gender Pay Gap reporting regulations for companies with 250+ employees, and whilst the national median pay gap has narrowed since then, progress has been somewhat subdued with an overall decrease of just 4%. But why is this the case?
Greater Pay Transparency is coming – How to ensure you have an equitable and gender-inclusive approach to pay and bonuses
Simon Cook | 30 November 2023
Pay Transparency | Pay Fairness
Reflecting on Equal Pay Day, the urgency for Pay Transparency is underscored as companies grapple with the complexities and concerns surrounding openness in salary structures.
Navigating the Changing Landscape of Reward Management: Challenges and Solutions for HR Directors in the Legal Sector
Justine Woolf | 09 November 2023
Reward Consultancy | Bonus | Pay Fairness | Pay Review
Navigating the evolving HR landscape, Innecto's team, with experience from top law firms, addresses challenges faced by HR and Reward professionals, offering strategies for rebuilding recognition culture in a hybrid work environment, simplifying bonus schemes, balancing transparency and discretion in pay decisions, addressing regional pay discrepancies in a distributed workforce, building business cases for investing in business services, enhancing pay review processes, and creating unique employee propositions to retain key talent in the ever-changing legal sector.
Equal Pay: Don't get stumped by pay equity
Sarah Lardner | 01 September 2023
Pay equity refers to the fair compensation and benefits individuals receive for performing similar work or work of equal value, regardless of gender, race, ethnicity, or other personal characteristics. This principle is essential for promoting fairness in the workplace, creating a level playing field in terms of remuneration, and preventing discrimination and bias that may result in unequal pay for comparable work.
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.
Pay in a Recession: How to grow in-built Resilience
Sarah Lardner | 10 February 2023
Pay Fairness | Pay & Reward | Resilience
Whether the current economic climate is confirmed as a recession or not, there is no question that we are in the middle of a cost-of-living crisis. According to Resolution Foundation, a typical disposable income for a working-age household is on track to fall by 3% this financial year, and by 4% in the year to April 2024, worse than the last financial crisis. The figures vary but the key message is the same: employees are going to feel worse off in real terms.
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.
How to utilise workforce data to inform pay fairness in your reward strategy.
16 June 2022
HR Reward | Pay Fairness | Pay & Reward | PayLab | Advance | Pay Data
Fairness is referenced by many organisations in their pay principles, and whilst none of us set out to pay unfairly, the reality is most reward frameworks are seen as unfair by employees.
What is base pay in your organisation?
29 April 2022
Pay Fairness | Pay & Reward | Pay Structure | Pay Review
There are many ways to manage a pay review budget and approach pay progression. However, before we start thinking about the pros and cons of those different approaches, it is important first to be clear about what Base Pay is for in your organisation.
Back to School! The nuances of how Teachers are paid
10 September 2021
Pay Transparency | Pay Fairness | Equal Pay | Measuring pay
Teachers are a good example of a variable or irregular work pattern, so how can you handle transparency in roles that don’t work your typical nine to five, and how can these roles be fairly and equally compared with the traditional Monday to Friday workforce?
How to promote fairness and transparency through Job Evaluation
06 May 2021
Pay Fairness | Job evaluation | Transparency
Fairness and transparency are both cornerstones of Responsible Reward. Spencer Hughes looks at how both can be achieved by correctly executing and implementing Job Evaluation with a logical and consistent methodology.
