Their challenge
As a non-departmental public body responsible for regulating work-based pension schemes. The Pensions Regulator are required to manage annual pay budgets within His Majesties Treasury (HMT) annual pay remit. As a result, there is a specific onus to ensure that there is clarity to support requests for budget spend and that pay application maximises the allocation as fairly, consistently and effectively as possible. Although TPR had a clear reward strategy, and publish pay ranges, how pay works within them has not always been clear to employees.
Our solution
Innecto reviewed TPR’s benchmarking methodologies and role matches across specialist, regulatory, legal, public and private sector markets. The team validated data on a role-by-role basis, strengthening confidence in pay competitiveness and identifying clearer market positioning. Innecto also engaged senior leaders in key business areas, explaining the approach, clarifying data insights and building trust in the process so reward decisions could be made with greater transparency and credibility. The work reinforced TPR's approach to reward decision-making, recognising that market benchmarking as an important source of evidence when considered alongside organisational context, workforce priorities and affordability, requiring informed judgement and expertise to interpret & apply accordingly.
The outcome
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Tangible benchmarking insights improving confidence in pay data and market comparability.
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Clarification of pay range positioning provided stronger evidence for pay remit budget discussions.
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Improved transparency in how survey data was interpreted and applied, addressing concerns about opaque decision-making.
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Strengthened evidence-based approach to pay decision making, balancing market data alongside affordability and wider organisational perspective
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Built senior leader confidence and credibility in the reward process, enabling progress toward pay structure transformation
Client feedback
Innecto’s support enabled us to build trust and confidence in the application of market data that we previously had not achieved in our organisation. Their reward expertise bolstered the reward team and gave credibility to the insights provided. As a trusted consultancy partner, I would highly recommend them
Company Profile
Industry Not-for-profit
No. of Employees 1,000
Website www.thepensionsregulator.gov.uk/
