Insights : Innecto Reward Consulting

Category: Pay & Reward

Pay in a Recession: How to grow in-built Resilience

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.

Posted by Sarah Lardner on
10 February 2023

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

How to use non-monetary forms of reward as an alternative to bonuses

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

How to provide adjustments without breaking existing pay structures

Linkedin is an extremely powerful tool for engagement but it is creating new headaches for employers already struggling in a tricky market.

Posted by Emer Bucukoglu on
14 July 2022

How to mitigate pay pressure, especially in hard to recruit sectors

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.

Posted by Lisa Trewhitt on
07 July 2022

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

What is base pay in your organisation?

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.

Posted by Cathryn Edmondson on
29 April 2022

GUEST BLOG: How tech benefits can ease the burden on take-home pay

Pay & Reward | Reward

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.

Posted by Jonathan West on
14 April 2022

Why employee engagement can ease the pressure on pay and reduce skills shortages

Pay & Reward | Employee engagement | Employee communications | Engagement

We do naturally see ebbs and flows in pay movement, and what feels heightened now, will in time be part of a wave.

Posted by Justine Woolf on
25 February 2022

The Pay Trends 2022 Whitepaper is here!

Pay & Reward | Pay trends

Our annual Pay Trends event streamed live on Tuesday 1st February, and we are pleased to release our Pay Trends 2022 Whitepaper to our reward community.

Posted by Karen Thornley on
10 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

Act now to meet the changing needs of your employees

Pay & Reward | Wellbeing | Mental Health | ESG

Defining a wellbeing strategy is one of those things that people say is a priority, but it does not always happen – indeed, a recent report by Mercer showed 48% of executives rank employee wellbeing as a top workforce concern, yet only 29% of HR leaders had a health and wellbeing strategy.

Posted by Justine Woolf on
21 January 2022

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