| THE EDITOR'S MESSAGE |
Issue 682 |
| STRATEGIC REWARD IN PRACTICE |
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Our newsletter this week looks at the work of the reward function, including its strategic role and how it is organised within the business.
First, our case study of Achilles Group looks at how it implemented two key elements of a global HR strategy: a global grading structure; and a management bonus scheme.
Second, we present the findings from our survey of the reward function. Based on responses from 132 organisations, we look at how the reward function is organised, the use of outsourcing and consultants, and the key tasks for reward professionals.
Other top stories in this issue:
Our pay reports in this issue give details of the latest pay awards in the electrical contracting industry, Next and the organ-building industry.
And don't forget, if you've just completed a pay review, you can now submit pay settlement data online to the IRS pay databank. Follow this link, or email Michael Carty to add your organisation's data to the largest whole-economy pay monitoring service in the UK.
| STOP PRESS: NMW INCREASE ANNOUNCED |
Gordon Brown has revealed that the national minimum wage (NMW) will rise to £5.73 per hour, with effect from October 2008. Brown announced the latest planned increase to the NMW adult rate at prime minister's questions on 5 March 2008. The latest annual uprating is therefore set at 3.8%, 0.6 percentage points above the previous increase (3.2%). We will report in greater detail in our
next issue, to be published on 20 March 2008. |
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 Sheila Attwood
Editor
Pay and Benefits Bulletin |
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| ANALYSIS |
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Case study: Introducing a global reward strategy at Achilles Group
Achilles Group undertook two ambitious reward initiatives in parallel: introducing a global grading structure; and launching a management bonus scheme for those assigned to higher grades. We talk to the group HR manager about implementing these two major changes.
Managing employee reward: benchmarking the reward team
Our first survey of the reward function examines the make-up of the reward team, key responsibilities for reward functions and the most important reward issues in the year ahead.
Equal pay: the political viewpoint
We asked MPs from the three main parties to set out their views on the equal pay crisis, what the issues are and how the gender pay gap should be dealt with.
The union perspective on equal pay
One of the main unions involved in the public sector equal pay claims is Unison. Here, Bronwyn McKenna, solicitor and director of organising and membership at Unison, sets out the position on equal pay from the union’s point of view.
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| NEWS |
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| PAY AWARDS |
Pay reports recently added to the site:
Electrical contracting industry: new three-year deal
Next: 2.5% basic increase
Organ builders: 4.5% increase to skilled rate
Pay review update: 7 March 2008
The latest pay review update table includes pay settlements at the British Furniture JIC, Guide Dogs for the Blind Association, Littlewoods Home Shopping Group and many more.
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| DATAFILE |
Statistics and forecasts
The datafile contains the most recent inflation, earnings and labour market statistics, pay settlement data and inflation and earnings forecasts. Our panel of City and academic forecasters expects headline inflation to fall gradually to 2.6% by the end of the year. Average earnings growth is expected to remain in the region of 4% over the next year.
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| MORE FROM IRS |
From the blog
Launched and run by the editorial team that produces XpertHR and the IRS journals, the Employment Intelligence blog is regularly updated with news, comment and links to the latest employment developments. Recent posts include:
Today's tip: email an article
How many times do you stumble on something you must draw to the attention of a colleague? Every article on XpertHR has a link to the right of the screen enabling you to "email this item to a colleague". Click on the link, enter the email address of your colleague, and press send. Your colleague will receive the document in full, making this an ideal tool when delegating work. Alternatively, email the article to yourself as a reminder.
Print all articles in this newsletter
This newsletter now has a "print all" button. Before pressing it, please be aware that this uses a lot of paper. For the sake of the planet and your toner cartridge, consider whether or not you need to use it. If you press "print all", this will send to your printer all articles linked from the newsletter. Print all articles. |
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