Developing reward strategy is a priority for the coming year
When asked about their reward priorities for the coming year, many employers say they will be developing their reward strategies; others are grappling slowly with problematic issues such as equal pay, according to new IRS research.
These are among the findings of the reward section of the fourth annual IRS survey of HR prospects.
Developing an overall reward strategy to ensure policies match business objectives is growing in importance. It is cited as the second most important reward issue for the next 12 months, compared to seventh place over the past year. Awarding pay rises represents the key reward priority, both retrospectively and looking ahead.
Elsewhere, a fifth of respondent organisations have either conducted an equal pay audit or are in the process of doing so, although a further quarter of organisations have no plans to do anything in this area.
HR prospects 2005: Building a reward strategy Sheila Attwood presents the findings of the reward section of the annual IRS HR prospects survey, looking at aspects of remuneration that have, and will continue to, feature on the HR schedule. The section also covers reward strategy, developments in pensions and progress on equal pay.
Also
Reward must
go beyond base pay IRS Employment Review looks at new research
from the Institute of Employment Studies.
Pensions reforms raise tensions The HR
Prospects survey section on pensions (due to be published on 20 May 2005) finds
public sector employers concerned that pension reforms could shatter the
relative calm of recent industrial relations.
Developing a global reward strategy at Tibbett & Britten Group By Sarah Welfare, writing in IRS Employment Review.
Pay the strategic way Read the reward section of the 2004 HR Prospects survey.
