PAYnotes: Third time lucky for Consultancy of the Year?
We are absolutely delighted to have been shortlisted as finalists, for the third year in a row, for Consultancy of the Year in the Personnel Today Awards 2016.
The judges were looking for evidence of where consultancies had a positive and measurable impact on clients’ projects. Our entry focused on three projects, with three different organisations, that demonstrated our approach and the value we add for our customers.
The first project related to our work with Cross Keys Homes (CKH). Having not reviewed their reward frameworks for many years, they were no longer meeting business needs. The project involved a high level of collaborative working between CKH and Paydata. Through in-depth research we clarified the cultural changes they desired, the reward drivers they wanted to focus on, what needed to change and made a number of key recommendations. From this, we developed a job family framework, completed benchmarking work and created a pay ladder, determining where each family should hang off the ladder. This project resulted in all employees accepting the changes to their terms and conditions, and the approach adopted was acknowledged as being fair and fit-for-purpose. Read more here.
The second project related to Alliance Healthcare, who were looking for a more efficient and effective approach to managing their annual pay review. With specific goals to reduce the time and resources spent on the review, to simplify the review cycle and to ensure sensitive information was stored securely, PAYreview offered a secure online solution tailored to their needs; which has delivered the benefits they desired. Review managers have responded with enthusiasm – it makes their role in the pay review process relatively painless, enabling them to focus on the quality of the review decisions rather than administering a process.
The third and final project was with the UK’s leading qualification and membership body for vocational accountants the Association of Accounting Technicians (AAT). AAT identified two main issues with their reward arrangements: the pay and grading structures were out of date and needed reviewing; and the link between performance and pay was not working as intended and needed to be looked at afresh. Working closely with AAT on both the design and implementation, we made four key recommendations: to introduce our PAYgrade job evaluation system to underpin the grading structure; to undertake a full market benchmarking exercise to quantify the extent of the perceived salary management issues; to change the pay management approach, to prevent individual pay levels ratcheting upwards unless supported by individual value; and to introduce a whole organisation bonus scheme, based on business level achievement of strategic goals.
We won’t discover the Award winners until the ceremony in November, so for now we’ll just have to keep our fingers crossed and hope that it’s third time lucky.
If you would like to know more about any of the projects mentioned, then please do get in touch.
By Naomi Pearson