The findings from e-reward's research programme are published in a series of research reports, launched in June 2002 - a collection of case studies, surveys and toolkits on contemporary reward issues.
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Consumers’ organisation, Which?, has introduced job families and simplified pay bands as part of its strategy to attract and retain new groups of employees and to provide better and more transparent career development opportunities for its existing 450-strong workforce. During the project, as many as 297 different salary bands were cut to 60, and four completely separate reward structures were replaced by one career and reward framework.
A new strategic business plan was introduced in 2010, supported by five “Must-win Ambitions”, including one with particular relevance for the Which? HR team: “Developing the organisation to deliver success”. As Which? stresses: “A key part of success is developing a career and reward framework that supports and reinforces our values and culture”.
In order to meet its business growth objectives, Which? needs to attract and retain talent, particularly as it moves into new business sectors and markets, for example, the provision of mortgage advice or its expansion into new locations. Which? says: “From a talent perspective, this move into new and different job markets presents new people challenges.”
What you will find in this report
This case study, written and researched by e-reward, examines:
Issue - 88
Pages - 12
Type - Case Study
Date - 23/08/2012
Update on the Regulation of Pay in Financial Services
Pay in the financial services sector continues to provide ample material for the media, with high-profile bank executives seemingly queuing up to waive their bonuses, whether out of a sense of honour or necessity. Generally bankers’ bonuses, af...