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What’s The Deal With Pay Reviews?
Between COVID and Brexit, there’s been a lot of uncertainty around pay reviews this year. Many employers just don’t feel safe putting up salaries at the moment, but some are looking to see whether they can at least give a cost of living increase as we ride out the storm. The Office for National Statistics…
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Your Company Values Matter More Now, Than Ever Before
What are company values? It is relatively rare that small and medium sized businesses have clearly written and well communicated values. However, with an increasingly geographically spread workforce, company values, ‘the way things are done around here’, are more important than ever before. To quote Gino Wickman in his book Traction, Company values are ‘a…
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Mediocre Staff…
As a business owner do you ever think about how good your team are? Would you consider them to be : Excellent at what they do. An asset to your business. Consistently meeting or exceeding goals and targets. Providing excellent customer service. Good timekeepers – always on time for work or meetings. Great team players.…
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Why are my staff leaving?
There are three main reasons why staff don’t stay in a business… The first is to do with not actually having the right person doing the role that needs doing. This normally comes down to the recruitment process where the job either wasn’t properly defined, or the criteria weren’t properly set, or the person being…
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I can’t afford to give pay increases!!
As I speak to my clients, I pick up on general trends. Sometimes it is based on stuff they have heard in the news, sometimes it is the fear of forthcoming legislation; but recently there is one trend which is repeated by almost all of my clients – pay increases! Staff are asking for them…
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Total Reward
At a time when Companies are still struggling to provide pay increases for employees, what are the alternatives to ensure engagement and retention of talent within the business. For many people, choosing an employer, going to work and performing at the highest possible standards is not just about how much they get paid. Pay is…
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Long Service Awards
Rewarding long service is tricky. You need to consider what you are rewarding, attendance or contribution? In the era of age discrimination, is rewarding long service, rewarding older members of staff and discriminating against younger members who are less likely to be receiving the awards. What is the purpose of the award? Is it because…
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Salary Sacrifice: May no longer be attractive for employers
Personnel Today has reported that a European court ruling means employers may be forced to pay millions in unpaid VAT for salary sacrifice voucher schemes. For a number of years now the Government have offered a number of schemes to encourage employers to provide employees with tax advantageous benefits. Some of the most common include:…
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To bonus or not to bonus?….. that is the question.
With news that RBS are set to overhaul their bonus scheme, and the Lib Dems denouncing NHS managers pay, bonus payments for all staff are once again in the spotlight. Companies who choose to use a bonus to incentivise performance should develop a robust and transparent scheme which encourages the particular behaviours the company values…
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Reward Strategy – Has your business got one?
29% of companies do not have a reward strategy (Personnel Management, 1 May 2008). Can this really be true? Do you know that l think it probably is. Companies spend anything from 10% to 90% of their turnover on their employees and have no plan for doing so, no idea if they are spending their…