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Building a reward strategy

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Source: IRS Employment Review

Issue: 823

Date: 13/05/2005

Publisher: IRS

Building a reward strategy

TOPICS:

pay and benefits	pay and grading systems pay levels and awards benefits (pay-related and other) pay-related incentives/awards pensions
equal opportunities	sex
termination of employment	retirement

SECTORS:
agriculture and forestry
chemicals
construction
electricity, gas and water
engineering and metals
finance
food, drink and tobacco
hotels and catering
manufacturing (other)
paper and printing
public services
retail and wholesale
services (other)
textiles
transport and communication

AUTHOR: Sheila Attwood

The overall reward strategy remains an important part of the remuneration agenda, while elsewhere progress on equal pay continues, but at a slow pace.

Key points

The most important reward challenges for the next year include awarding pay rises, conducting an overall review of reward strategy, grading structures and managing pay costs.

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