Wragge & CO is designing its reward strategy for the next five years to ensure it remains competitive and its benefits are valued by staff.
The law firm is aiming to have a new strategy in place by April.
Following a benchmarking exercise, it is currently in the process of surveying new recruits about which benefits they would like to receive.
Amanda Pridmore-Wood, benefits and travel manager at the company, said the review was intended to ensure that its benefits package remained relevant for all employees despite changing workforce demographics.”[The survey] is a one-pager saying ‘out of this nice suite of offerings, pick your favourite eight’. In there, are some [benefits] that we are already offering and others that we are not,” she explained.
Changes to age discrimination legislation, which came into effect last October, mean that Pridmore-Wood believes the company is likely to have more older employees working for it in the future, while younger staff are also continuing to join the organisation.
It is also planning to move its total reward statements online to help communicate its benefits package to staff more efficiently.