A reward strategy needs to make clear the aims of the various reward elements, integrate them coherently and tell employees what they can expect to receive and why. You’ll find here information on reward strategy and remuneration, pay structures, pay policy and practices, salary and payroll administration, total reward, minimum wage, executive pay and team reward. There are other pages for: bonuses and incentives, employee benefits, equal pay, pensions, performance related pay and salary surveys.
National Minimum Wage rates will increase on 1 October: the standard adult rate for workers aged 21 and over to £6.95, the development rate for those aged 18-20 to £5.55, the young workers rate for those aged 16-17 to £4.00, and the apprentice rate to £3.40. The National Living Wage introduced in April 2016 for workers age 25 remains unchanged at £7.20 per hour.
Our Reward blog promotes and stimulates thought leadership and increases awareness and understanding of pay, benefits and non-financial reward.s
Looking for an older report on reward which is no longer on the website? The full-text of all our research publications and surveys from 1999 onwards is available to CIPD members from our HR and L&D database.
A 'National Living Wage' of £7.20 for those age 25 and over (effectively a new tier of the National Minimum Wage) applies from 1 April 2016. Also in April 2016, the financial penalties will double for employers found to have paid less than the statutory minimum.