23rd August 2017
It’s important to stay up to date with the current pay picture in the UK and industry issues, to remain ahead of the game. If you want to ensure you are offering employees a fair and competitive salary and benefits package, in line with current standards within your sector, then it makes sense to stay educated.
There are many factors faced by all businesses which impact upon pay and reward. In addition to knowing your employee budgets and HR strategies, outside factors such as the cost of living and economic uncertainty can also play a role. Do salaries need to increase in order to stay in line with the National Living Wage? Will Brexit affect your ability to attract top talent, leading to a review in salary and benefits package?
There are many things to consider, which is why analysing and reviewing compensation on a regular basis is key. Ruth Thomas, our Industry Director recently joined other leading commentators discussing the current pay representation in the September/October issue of Reward magazine.
Discussing gender pay gap reporting, the rising NLW and economic uncertainty and inflation, Ruth and other industry experts have their say on rewarding staff in difficult financial times.
Read the issue of Reward magazine here and turn to pages 22-24 for the article including Ruth’s comments.