To attract and hold on to good people, it is crucial for you to know how the pay you offer compares with the market. We can help you pitch reward at the right level, whatever your salary benchmarking needs.
We can conduct a full review of your reward offering, checking how it compares with the market, suggesting how you could make your reward spend go further and helping you to put any changes into action. Look at our Reward Review page for more information.
Making market comparisons
Just obtaining accurate pay data can be a challenge, and ensuring it is current and matched to your organisation’s jobs is tricky.
Our Salary-Check database pinpoints current market rates appropriate to your organisation’s size, sector and location. This is a flexible resource which we can use this for spot-checking specific roles and grades, and for Executive pay benchmarking.
We can apply our own job evaluation package to measure job size, tailoring its application to your needs. This provides the reassurance of analytical job evaluation, ensuring accurate salary benchmarking and helping to minimise the risk of equal pay claims.
Where appropriate we can also blend this data with other relevant pay sources to provide you with a comprehensive view of the market.
Having established market salary levels, you need to consider where you want to position your pay against the market. Get reward right and you’ll be able to bring in the people you need, bring out their potential and retain them, but if you get it wrong then the performance of your organisation will suffer. We can help you pitch reward at the right level, whatever your benchmarking needs.
Reward system design
Effective reward systems pay people for the jobs they are expected to do – and for how well they actually do them. We work with our clients to come up with practical solutions that meet their needs, advising them of the cost and the likely impact on individuals.
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We can review your organisational structure and characteristics to design 'spot' (fixed) salary or grading systems that reflect job size and market value. See our Grade structure design for more information.
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Where appropriate, we can design a system to give individual pay rises according to their performance or competence.
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We can advise you on the practicalities of rewarding individual, team or organisational success using incentive schemes.
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A company's employee benefits offering can say a lot about the culture and personality of the employer. It can help to increase employee engagement with the business and increase the perceived value of the package.
It is obvious that the reward systems you put in place need to be relevant, but organisations often overlook checking staff opinion to make sure that the rewards they plan to offer will appeal to their people.
We can help by designing staff surveys and running focus groups to ensure that you offer the right rewards.
Don't let change catch you out
Even if you already have a reward system in place, changes in your organisation and in market rates may have reduced its effectiveness. These shifts can be subtle, so you need to review your approach to reward periodically so that you aren't caught out by the tide.
Outdated systems may not just be failing to reward your people effectively – they may also be the cause of hidden pay discrimination.
If you’ve never conducted an audit of your reward systems, then our Equal Pay Assessment service is for you. We examine your pay data and systems and provide you with a short report that will highlight your gender pay gaps and warn you of any issues that need your attention.
We also recommend this service as part of any change in reward practice to check the potential impact it will have.
Putting changes into place
We can help you to design communication materials and to implement the changes, so that your staff understand how they will be affected. We can also provide cost modelling spreadsheets to help you to budget and to assess the impact on individuals, along with pay review models that help you to test scenarios so that you make best use of your annual reward budget.
Contact us to discuss your requirements and to learn more about how we can help you.
