Professional Services firm

A major professional services firm decided to overhaul their current base pay arrangements in order to :

Develop a clear internal job structure and communicate this effectively to employees and stakeholders
Create an open pay and benefit structure, based on market information, but reflecting the internal value that the organisation placed on roles and competence
Create a culture where employees understand where they are within the structure; what they can expect to be paid, and how they can progress their career within the organisation
Potentially, to be able to defend Equal Pay issues, and certainly to demonstrate that pay is fair across the business for all employees
Create an environment in rewarding people that matches the brand values; reliance on teamwork and high quality capability

Innecto were involved in the project to provide a sounding board, and help ‘unstick’ the project process. When we became involved, the project achievements to date represented high quality work with a driving vision and focus on what needed to be achieved. Various elements were well developed but an overarching connection was needed to pull them all together into a coherent pay and competence structure. Longer term, our client plans to grow significantly, both organically and through further acquisition. It has been that identified the future reward structure needs to be both flexible and robust. Managers have had and used “the power to pay” and this devolved style needs to continue to lie at the heart of any new structure.

Innecto Reward Consulting were asked to review progress to date and make recommendations based upon previous experience of working with organisations facing similar issues. The objective of this report was to provide independent assessment of what has been achieved so far, and provide options around different approaches to migrate the new model towards implementation.

Specifically, Innecto recommended developing a bespoke approach which :

Developed a base pay structure fit for purpose – simple enough to meet the current needs of the business and yet with built in scalability and robust to use through future change, growth and acquisition
Built an overarching link between individual job incumbent’s competence and their pay position against the market, both internal and external

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Professional Services firm