Survey: Reward management: Focus on pay
Key findings:
- More than 40 per cent of respondents use individual arrangements, such as spot salaries, to manage base pay.
- Market rates are considered the most important factor in determining base pay levels, cited by 70 per cent of respondents.
- The most common criteria for managing base pay progression are individual performance, competencies, skills and retaining potential.
- Only half of organisations collect pay dispersion data – data on spread or range of pay across the workforce – in comparison to competitors.
The report, based on responses from 715 organisations, highlights the challenges faced by HR and reward professionals. It focuses on base and variable pay policies, as well as transparency and equality.
