Reward & Benefits
Great people, consistently performing to a high level deserve great rewards and benefits
But it’s not a simple as just paying the right salary. It’s important to design reward and benefit structures thoughtfully, ensure they are aligned to your culture and values, that they drive consistency, fairness and can scale-up as your organisation grows. Complex stuff, which if you’re not careful can end up in a tangled mess.
We understand the importance of getting the right foundations in place and can help you navigate the complexities of reward strategies, compensation schemes and flexible benefits.
What People Want To Know
Isn’t this just an issue for big organisation?
All organisations, no matter what size, should have a clear and consist approach to pay and benefits. Whilst it can get more complex in larger organisations, simple frameworks can be used to maintain consistency as organsations grow. Equal pay is an important consideration for all organisations
What is salary sacrifice?
Salary sacrifice is an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit. As an employer, you can set up a salary sacrifice arrangement by changing the terms of your employee’s employment contract. Your employee needs to agree to this change.
Do I need to comply with Gender Pay Gap reporting?
Gender pay gap reporting requires an organisation to review the overall gap in pay between men and women working for it and publish a detailed breakdown. The aim is to increase transparency on pay equality. Publishing information about the differences in pay between men and women is mandatory for all UK private and voluntary sector companies (although it does not yet apply in Northern Ireland), and most public sector organisations, with 250 employees or more.
What are flexible benefits?
Flexible benefits allow employees more of a choice in the benefits they want or need from a package offered by an employer. Very few flexible benefits schemes are truly flexible as it’s difficult to allow every benefit to be optional. Most often, schemes have some core benefits, which employees can not opt out of.
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