Our research shows that on average it takes between two and four months to complete an annual pay review process. From agreeing the budget parameters and overall spend, to ensuring the reviewing managers are identified and have the right information to work with; the project often requires considerable effort from everyone involved.
After 12 months of intense development, NorthgateArinso Reward Solutions have developed a new solution called Compensate Salary Planning, which shortens and simplifies the salary review process.
Compensate Salary Planning forms part of the Compensate suite of solutions, specially designed to give Reward Managers a complete set of tools enabling them to manage reward more effectively.
Compensate Salary Planning allows you to manage, budget and analyse your salary plans with ease.
It underpins the compensation strategy and gives access to powerful, easy-to-use tools for more informed and equitable compensation decisions; freeing up HR’s time to focus on more strategic issues
HR can also set the rules that are important to your business and drive through the corporate pay policy into divisional, departmental and individual pay decisions.
To download a fact sheet on Compensate Salary Planning, please click here
The annual pay review can mean different things to different people, but no other process touches everyone in the organization as directly or with as much impact.
In fact if pay reviews are not managed effectively, they can have a distinctly negative impact and any substantial investment in pay rises can be largely wasted.
The key components to a pain-free annual salary review are simple: clear policy, clear communication, effective data management and early engagement with the rest of the business. All departments need to work together and plan ahead.
To download a fact sheet on Compensate Salary Planning, please click here
We work with you to offer best practice advice on how to conduct a pay review and ensure Compensate Salary Planning reduces the complexity of your current process.
Our experienced consultants can also bring together the additional features of Compensate Salary Planning to enhance your Strategic Reward approach, the flexibility of the solution with the professional advice allows the whole reward approach to be more focused and streamlined in these modern times.
NorthgateArinso contributes to CIPD Research
Dan Wilson, Director of Consultancy, contributed to a CIPD research project on the pay review process.
CIPD members can click here to download the full report from the CIPD website.
