The development of an overall reward strategy is likely to be a key challenge for HR departments in the next year.
A study by IRS of more than 500 organisations shows they are constantly reviewing their grading structures to ensure they are offering the best salaries and career opportunities to their employees.
Despite the demise of final salary pension schemes, more than half the responding organisations still had them in place. However, the findings show they are having to increase both the employer and employee contributions to keep them going.
Previous IRS surveys have shown that equal pay is moving up the HR agenda, but in this study, the majority – 24.4 per cent – said they had no plans to introduce equal pay audits within their organisations.
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