The latest instalment in the debate over which inflation indicator is the most appropriate for uprating benefits such as pensions took place in the High Court in January. The case, brought by telecoms firm BT, was that the company should be allowed to change provisions for uprating pension payments from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI), on the basis that the former had ‘become inappropriate’, according to the rules of the scheme. The case has implications for setting pay as well as pensions.
As employers start to publish their gender pay gaps, IDR’s Louisa Withers explains why the reports could play an important role in furthering equality. So far, over 200 organisations have published their gender pay gaps on the Government’s official website, in advance of the deadline of 4 April 2018. Continue reading Gender pay reporting: the new rules
The latest IDS survey of employers’ pay intentions, received almost 160 responses from a wide range of organisations. The survey, which looks at reward plans for 2017, suggests a stable picture in terms of pay increases and headcount levels. While new regulations on gender pay reporting already appear to be informing reward strategy, the vote to leave the European Union has had a negligible effect on pay decisions so far.
Influences on reward strategy
Looking at the main factors influencing reward strategy for 2017, the top three concerns show the difficult balancing act employers face in monitoring paybill costs without detrimentally affecting staff morale. Keeping labour costs in check was the most significant factor, rated as ‘very important’ or ‘important’ by all but one respondent, while recruiting and retaining key staff was the second most important issue, regarded as important by 94% of organisations, closely followed by employee engagement and motivation (90%). Continue reading IDR survey: gender pay reporting at forefront of employers’ plans for 2017