Insights : Innecto Reward Consulting

Smaller Pay Rises This Year? The Path Forward for Pay Review 2024

Pay reviews can be difficult to manage. In the past, pay pots have enabled people leaders and finance directors the ability to allocate awards effectively, given the cost of living and labour market conditions and address any anomalies. However, this year presents new challenges as pay awards are likely to be more modest, with average pay settlements expected to be around 4%, down from over 6% in the past two years, as predicted by Innecto and confirmed by The Chartered Institute of Personnel and Development (CIPD) recent report.

Posted by Sarah Lardner on
16 February 2024

The key technology changes to be aware of as we plan Reward Strategy for 2024

HR Tech is evolving to meet the ever-changing needs of modern business. Previously companies acquired an Enterprise solution like Oracle or PeopleSoft to ‘do everything’. Now HR Directors can pick and choose between a range of products on different platforms with an expectation that they can integrate and ‘talk to each other’. It sounds straightforward but the goalposts are constantly shifting so it is important to peel back the layers.

Posted by Sarah Lardner on
23 November 2023

Pay Review: what’s your strategic approach in Q4?

Pay Review | Advance

Pay Review time has arrived again which may feel like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Justine Woolf on
15 September 2023

Pay Review - risks in processes and how to mitigate

Pay Review | Advance

Sarah Lardner explains how a recent client streamlined their pay review process by eliminating spreadsheets, reducing the risk of error, reducing resource hours, engaging line managers and enabling far better reporting with Advance.

Posted by Sarah Lardner on
18 August 2023

Managing Pay Review – Five key areas for HR to address

Pay Review | Advance

When it comes to Pay Review, HR can often find themselves losing valuable time in complex manual processes and ultimately without the tools they need to make informed decisions. Here are five common areas of concern where Innecto's Advance tool can almost certainly help.

Posted by Spencer Hughes on
24 February 2023

Taking the Pain out of Pay Review

Pay Review | Advance

Pay Review time has arrived again and for many at the moment it feels like a continuous process: an uphill treadmill of pressure, budget crunching and scenario re-modelling.

Posted by Sarah Lardner on
27 January 2023

The key technology changes to be aware of as we plan Reward Strategy for 2023

HR Tech is evolving to meet the ever-changing needs of modern business. Previously companies acquired an Enterprise solution like Oracle or PeopleSoft to ‘do everything’. Now HR Directors can pick and choose between a range of products on different platforms with an expectation that they can integrate and ‘talk to each other’. It sounds straightforward but the goalposts are constantly shifting so it is important to peel back the layers.

Posted by Sarah Lardner on
13 January 2023

How to utilise workforce data to inform pay fairness in your reward strategy.

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.

Posted by Justine Woolf on
16 June 2022

Three key features your pay review software must have

Pay Review | Advance | Pay Data

The painful pay review process is leading many HR teams to look for software to handle the heavy lifting - if you are considering implementing a software solution for your next pay review, make sure you pick one that has these three must-have features.

Posted by Mark Macoun on
03 February 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

Top five things to consider when planning for pay review

Pay Review | Advance

Planning for pay review can be tricky at the best of times but with the current market volatility, it is particularly challenging for this upcoming cycle. Cathryn Edmonson offers her five top tips for planning your pay review.

Posted by Cathryn Edmondson on
07 October 2021

Insights

Insights

Category: Advance

Smaller Pay Rises This Year? The Path Forward for Pay Review 2024

The key technology changes to be aware of as we plan Reward Strategy for 2024

Pay Review: what’s your strategic approach in Q4?

Pay Review - risks in processes and how to mitigate

Managing Pay Review – Five key areas for HR to address

Taking the Pain out of Pay Review

The key technology changes to be aware of as we plan Reward Strategy for 2023

How to utilise workforce data to inform pay fairness in your reward strategy.

Three key features your pay review software must have

Maximising your pay pot spend

Top five things to consider when planning for pay review

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