Focused Reward which aligns with organisational vision and strategy
Modern universities, colleges and education bodies face many of the same challenges as large FTSE businesses in the corporate world: employee retention, talent acquisition, customer satisfaction and future planning.
The introduction of tuition fees in 1998 has gradually brought about a greater customer focus to universities. The challenge is to attract the best and brightest students and employees from across the world.
Just like any other sector, the war on talent presents a very real challenge to HR functions but unlike other sectors this global battle will ultimately dictate the organisation’s customer base; the students and demographics you appeal to. In order to succeed HR teams need a clear strategy and a holistic approach to developing talent at all levels of the organisation.
Goal-based planning is vital when it comes to addressing organisational design. What do you want your organisation to achieve and what is the best structure to facilitate this? Ultimately, getting the right organisation structure in place can help reduce costs, increase efficiency and reduce the risk to the institution.
Our work to date has highlighted that it’s more important than ever for HE institutions to have technology which can handle the demands of complex organisational structures. It’s the best way to streamline functions like recruitment, talent management and data analysis.
However, the successful deployment of HR tech can be a hard road to navigate. We partner with our clients on this journey and provide the wraparound consultancy to leverage the return on this investment and enable it to shape informed decision making.
More recently, disputes over pensions and vice chancellor pay have increased workloads and raised tensions. The remuneration code from the Committee of University Chairs and proposed Office for Students requirements have also highlighted the need for independent and objective support to not only help shape but validate areas of executive compensation.
Innecto specialise in university senior pay and work with our clients to offer analytics, market benchmarking, the design of bonus schemes, communications and Remuneration Committee support.