Reward

What is Reward and Compensation?
Blogs on Reward and Compensation covers salary, benefits and incentives and is a key hygiene and motivational factor for employees. What do we mean by hygiene? This reflects the fact that compensation can serve to demotivate when done badly. It can then cause poor performance and potentially higher turnover. Done well it can help motivate employees to continue to deliver over and above expectations.

Posts in this section will cover the following:

Salaries – how to allocate salary reviews and predictions of future years salary budgets. We look at how performance and salary can be linked and where this has been done effectively.
Employee Benefits – what is new in the market and what are the key developments with existing benefits such as pensions, childcare vouchers etc.
Incentives. How can you design them to promote high performance? Do they actually continue to motivate or does the impact reduce as they pay out year to year?

Small business owners

What will the UK General Election mean for small business owners?

Anyone else sick of the general election campaign yet? Whatever your political views in general, there’s clear daylight between Labour and the Conservatives on how they will treat small businesses. As we are in the gap between Small Business Saturday in the US (30th November) and the UK (7th December), I thought I’d summarise the …

What will the UK General Election mean for small business owners? Read More »

Mind the benefits gap (2 min read)

According to the attached article, two thirds of SME bosses believe that they face a benefits gap in comparison to larger employers. The research, carried out by Opinium in March 2018 among 508 decision-makers at organisations employing between 50 and 299 staff, found that 69% of senior managers believe they have a duty to provide benefits beyond pensions. …

Mind the benefits gap (2 min read) Read More »

Employee Benefits Management @ Cornerstone Resources HR

Childcare vouchers are dead. Long live tax free childcare?

Intensive lobbying from interested parties has failed to change the Government’s mind on removing childcare vouchers. From 4th October 2018, the current childcare voucher scheme will be closed to new entrants and the only option on the table (for those who are eligible) is tax free childcare. We find it disappointing that the Government has …

Childcare vouchers are dead. Long live tax free childcare? Read More »

Employee Benefits - Cornerstone Resources

Real salary increases in the UK are flat. What does this mean for your business?

So we read again that real pay increases have flatlined. This means that basically the same as it has for the last decade, no increase in real take home spending power for the average employee. The attached article confirms that median pay awards are still rooted at 2.5%, the same rate as the consumer price …

Real salary increases in the UK are flat. What does this mean for your business? Read More »