Who is due a pay rise? Did you know that Companies are legally obliged to review salaries regularly?
With more companies being hit with Equal Pay Claims it is extremely important that your company uses a fair and consistent approach to the salary review.
Many organisations, both big and small, increase the salaries of their staff in April so now is the time of the year when you should be starting your salary review process. Salary reviews should not be left to the last minute, but be carefully planned and resourced.
Have you considered comparing your salaries against the market rates? Salary benchmarking can be used for this. Are your jobs in the right grades? Are people being paid for the job they do rather than who they are? Are the jobs weighted correctly? Analytical Job Evaluation can give you peace of mind that jobs have been weighted on an Equal Pay basis.
Modern companies are moving away from inflation or across the board pay rises and instead are looking to link reward to performance, thus improving the productivity of the business as well as motivating staff.
Lots of things to think about but we can help with all or any aspect of it.
Speak to us today about equal pay audits and creating an effective pay-reward culture.