I think it is interesting to see how the importance of performance-related pay has moved in and out of fashion. Go back a few years and everyone was saying they were a pay-for-performance employer and everything from shares to pay rises was linked to a rating. That made budgeting difficult, so we had to have […]
Ingka Group, which owns retailer Ikea, has announced that it will pay out a €311 million employee bonus based on good results this financial year, where revenue grew by 5.4%. The group’s global annual performance-driven bonus programme rewards employees when they meet or exceed specific business goals. The bonus total varies each year and is […]
HR managers have to deal with many different issues. You play a vital role in shaping not only the productivity of your company but also the culture. This comes with its own unique set of challenges, not least the fact that an efficient, effective and happy workforce is your responsibility. One factor that plays a […]
Ever found yourself in a position where you’ve managed to get the right people on board, you’re hitting a high performance level and your workplace culture feels like it’s one where your people can thrive? Then the question sets in: how on earth are we going to maintain this? As cliché as it sounds, you’ve […]
The Festival of Sleep and the importance of some good quality shut eye. Tuesday 3rd January is The Festival of Sleep Day. Whilst its history is unknown, the importance of its message is unmistakable. Are Your Employees Getting Enough Sleep? As an employer, you may not think you’re impacted by your employees’ sleeping habits or […]
Businesses that make effective use of pay programmes to drive individual and team performance are 1.2 times more likely to outperform others, and 1.4 times more likely to report higher employee productivity, according to research by Willis Towers Watson (WTW). More than 800 global organisations were surveyed, highlighting that employers using performance management programmes were […]
A recent survey by Schroders Personal Wealth, conducted before soaring inflation started making headlines, found that over half of Britons are already stressed about their financial situation. Discussing money worries with employers is a conversation many employees are reluctant to have. Your workplace may have many people bottling up their financial difficulties and missing out […]
Four-fifths (80%) of employees believe stress related to financial wellbeing can impact performance in the workplace, according to research by YuLife in conjunction with YouGov. The Employee health and wellbeing survey 5.0: Financial wellbeing and the impact on performance in the workplace, which surveyed 2,035 UK adults, also found that 80% of respondents are currently […]
The Financial Conduct Authority (FCA) is to increase salaries and performance-related pay for its employees. Under the terms of its new employment offer, which is designed to reward consistent performance, aid career development and close pay gaps, around 800 of its lowest paid employees will receive a salary rise of £4,310 to a new minimum […]
Performance reviews may be more valuable than ever. As a result of working from home and the current economic climate, employers should check in on their people and update them on their performance. However, with 46.6% of people in employment working from home, performance reviews are more likely to be held online, offering up a […]
New research by Aon has categorically linked employee wellbeing benefits with increased business performance. According to data from the global professional services firm’s 2021 Global wellbeing survey, companies that improve their employee wellbeing performance also see a 1% rise in customer satisfaction and retention. The study further found that a 3.5% increase in wellbeing performance […]
More than four-fifths (85%) of employees working for The Office for Standards in Education (Ofsted) departments have received non-consolidated performance-related payments (NCPRP). The data, published by the Department for Education (DFT) in its 2018-19 report, found that some employees at Ofsted earned as much as £5,000, with the median payment standing at £100. This has […]