Pay & Reward
Our team of specialists are ready to help your business today
In business, your people are your profit; but do you pay and reward your team fairly and effectively?
When it comes to attracting, retaining, engaging and incentivising employees to become high performers, a structured and appealing pay and reward programme is key.
Howarths supports small and medium-sized businesses to evaluate, design and implement pay and reward strategies that balance commerciality with employee engagement. We’ll help you think about what your employees want in line with business performance and objectives and create a structure that effectively balances both.
Pay and reward is far more advanced than just ‘money’ and a well-considered strategy can have a positive impact on your bottom line. Let Howarths show you how.
What our clients say
Pay and reward surveys and strategy
A Pay and Reward survey allows a business to benchmark current levels of remuneration against the market, ensuring they are competitive and appropriate. Rewarding staff in a way which is competitive and fair for the individual, but also within an employer’s current pay structure is a fine balance and Howarths can help with this.
Once you have the data, you can then review your reward structure to ensure it is fit for purpose and aligns with the businesses vision. An employee’s financial reward is one of the primary motivators for work so it is crucial an employer gets this right if it is to attract and retain the best talent.
The types of information can include what other businesses in the region are paying, benching marking with other departments within the business to ensure parity and industry and sector specific pay rates. This is all valuable data for crafting the perfect pay and reward package for your business.
Equal pay andpay gap reporting
By law, men and women must get equal pay for doing ‘equal work’ (work that equal pay law classes as the same, similar, equivalent or of equal value). A gender pay gap is the average difference in pay between men and women.
Employers with 250 or more employees must publish figures about their gender pay gap.
The Howarths Employment Law team can help business understand what these requirements mean for their business and to ensure compliance.