Recently in Reward strategy Category

How to follow a total reward approach

The concept of total reward embraces the tangible aspects of reward with the more intangible aspects of the working environment, resulting in a set of factors that aim to increase employee engagement and, therefore, business performance. But what exactly should be included, and how do organisations ensure that total reward becomes embedded in how the organisation operates?

XpertHR's latest addition to the "How to" section - How to follow a total reward approach - addresses these, and other, questions about total reward. Issues covered by the guide include:

Each of these topics is covered in detail, resulting in a practical guide for employers on the steps to take in order to follow a total reward approach.

Sheila Attwood Posted by Sheila Attwood
on March 6, 2013 1:33 PM 		| | Comments (0) | TrackBacks (0)

Regional and local pay survey: your help needed

With the exception of London, regional variations in pay in the UK are actually quite limited, as the chart below shows. But for organisations struggling to recruit employees in a particular town, for example, a local element to reward can prove a useful tool.

XpertHR is carrying out research on location pay and would greatly appreciate you taking part in our survey in return for a full copy of the survey findings when they are published.

Earnings by region, April 2012.GIF

Continue reading Regional and local pay survey: your help needed.
Sarah Welfare Posted by Sarah Welfare
on January 31, 2013 12:07 PM 		| | Comments (0) | TrackBacks (0)

RPI inflation measure does not meet international standards but will stay as it is, National Statistician says

The Office for National Statistics was widely expected to announce changes to the way the retail prices index (RPI) measure of inflation is calculated this morning. But instead, the National Statistician, Jil Matheson, announced that the ONS would be leaving the way the RPI is calculated as it stands, despite stating that it did not meet current international standards.

"There is significant value to users in maintaining the continuity of the existing RPI's long time series without major change, so that it may continue to be used for long-term indexation and for index-linked gilts and bonds in accordance with user expectations," she said.

Continue reading RPI inflation measure does not meet international standards but will stay as it is, National Statistician says.
Sarah Welfare Posted by Sarah Welfare
on January 10, 2013 4:28 PM 		| | Comments (0) | TrackBacks (0)

Living Wage Week: a round-up

This week's Living Wage Week has seen an unprecedented national debate around the issue of whether employers should be encouraged to increase pay rates for low-income workers to a level that is calculated to provide a minimum standard of living.

The current squeeze on household finances - set to continue beyond the downturn - has put the spotlight on the part wages play in household budgets in the face of cuts to in-work benefits, the rising cost of childcare and minimal wage growth.

Trailed in the weekend's papers, Monday saw Labour Party leader Ed Miliband announce that his party is looking at various government levers for promoting the living wage, including the use of financial incentives, central government procurement and requiring listed firms to report how many of their staff receive less than the living wage.

Continue reading Living Wage Week: a round-up.
Sarah Welfare Posted by Sarah Welfare
on November 9, 2012 8:30 AM 		| | Comments (1) | TrackBacks (0)

Employers take steps to reduce overtime

Almost two-thirds of employers have taken steps to reduce the amount of paid overtime at their organisation, according to the latest research from XpertHR. A key theme running through the survey findings was that employers are trying to reduce the cost of overtime, mostly through better managing the process.

XpertHR's survey received responses from 100 organisations, of which 93 have at least some employees entitled to overtime pay. Overtime pay is more likely to be available to manual workers (in 80% of organisations), than non-manual workers (55% of organisations). Organisations also use other ways to determine who is and isn't eligible for overtime pay, for example by specifing that it is not available to anyone of a managerial level or above, or to those earning more than £30,000 a year.

Continue reading Employers take steps to reduce overtime.
Sheila Attwood Posted by Sheila Attwood
on August 14, 2012 11:19 AM 		| | Comments (0) | TrackBacks (0)

Take part in our overtime survey

XpertHR is conducting a survey of overtime, looking primarily at arrangements and pay rates. Take part and you will be entitled to a complimentary copy of our findings as soon as our research has been completed. 

The survey remains open until 8 June 2012. 

Topics covered in the survey include:

  • Organisations' use of overtime.
  • Payment of overtime - rates and calculation of.
  • Allocation of overtime.
  • Measures taken to reduce overtime.
Sheila Attwood Posted by Sheila Attwood
on May 21, 2012 12:09 PM 		| | Comments (0) | TrackBacks (0)

CIPD Reward Conference - additional XpertHR resources

XpertHR spent the past two days at the informative CIPD Reward Conference, catching-up on all the latest developments in the reward field and listening to speakers share their experience of reward challenges such as how to reward in a time of austerity, how to link reward to the business strategy and how to ensure that linking pay to performance works.

With so much to take from the two days, we thought it would be useful to provide some additional resources around the themes covered on the two days. So here is a quick run-through of the sessions covered, and further reading on XpertHR.

Reward and the year ahead. The CIPD presented findings of their 2012 reward management survey. The key findings are presented in our blog post, while the full report can be downloaded here.

Continue reading CIPD Reward Conference - additional XpertHR resources.
Sheila Attwood Posted by Sheila Attwood
on May 17, 2012 1:56 PM 		| | Comments (0) | TrackBacks (0)

Do we need to communicate more about reward and benefits?

The latest annual Reward Management Survey from the CIPD suggests that employers' reward spend is not fully understood or appreciated by staff due to a lack of education and communication. The survey notes that more than one-third of companies plan to increase their spend on employee benefits this year, but Charles Cotton, rewards adviser at the CIPD, says that "if employees don't understand or value what they are getting, these employers are not likely to reap the competitive advantage they are seeking".

It found that just 17.8% of employers use total reward statements and only one in five offer financial education to help employees understand the value of their reward package.

The survey also hints at the pressure organisations' reward budgets are currently under:

  • More than one-third of companies plan to increase their spend on employee benefits this year, and for more than half of these this is due to increases in benefits costs.
  • Over the past year pay review outcomes have been driven by ability to pay, inflation and market rates.
  • A large proportion of respondent organisations are aiming to pay at or above the median market rate in order to attract, retain and engage employees.
  • There has been a slight increase in the use of more flexible performance-related bonuses against a slight decline in performance-related pay rises.
  • Around half the organisations surveyed will need to make changes to their pension arrangements as a result of auto-enrolment.

The CIPD research complements the recent XpertHR article on communicating benefits [£], which noted that "when employees have a good understanding of what their organisation is offering them, this can make a real difference to their engagement and commitment levels."

There is definitely a consensus that in a time of restrained reward budgets, the first way to get the most out of your reward spend is to ensure employees know the value of what they are getting.

The CIPD's report is based on a survey of 455 organisations. The full report can be found on their website.

Sheila Attwood Posted by Sheila Attwood
on May 15, 2012 2:31 PM 		| | Comments (0) | TrackBacks (0)

Why compare salaries against market rate?

According to the latest XpertHR research, more than half of organisations use market-linked pay. What we don't know, however, is why organisations use market-linked pay, for what purpose, and how they go about it.

In order to answer these questions, and more, XpertHR is conducting a survey of market-linked pay.

We would be very grateful if you share your organisation's experiences in our confidential survey.

In return for completing the survey, we will provide you with a free copy of the research report.

The survey closes on Friday 2 March.

Sheila Attwood Posted by Sheila Attwood
on February 20, 2012 12:07 PM 		| | Comments (0) | TrackBacks (0)

Pension ruling could impact on pay rises

Today's High Court ruling that the government acted lawfully in breaking the link between public sector pension increases and the Retail Prices Index could have a significant long-term impact for pay setting.

The switch from RPI to the Consumer Price Index will most likely save the government a considerable sum of money since RPI has historically risen more rapidly than CPI, though it is by no means guaranteed that this will always be the case.
Continue reading Pension ruling could impact on pay rises.
Mark Crail Posted by Mark Crail
on December 2, 2011 2:43 PM 		| | Comments (0) | TrackBacks (0)
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