Written by Lyn Brieseman on April 1, 2020.
This article was published on https://www.hcamag.com.
In our experience, most Not for Profit (NFP) organisations would agree that they strive to develop remuneration systems that are:
Our Strategic Pay Senior Consultant, Christine Whelan examines the debate around salary increases being based on CPI and why this may not be the best idea.
Let’s forget for a moment the fact that CPI doesn’t always move positively and consistently upwards – over the last 5 years it’s ranged between 0.5% and 2.5%, while the remuneration market movement has remained at a reasonably steady 2 – 3%. Remuneration market movements, since they inevitably reflect employers’ ability to pay, already take into account CPI, while not being driven solely by it.
Strategic Pay are pleased to announce that our complimentary Pay at the Top Booklet for 2020 is now published! Through in-depth analysis, we cover current trends and practices relating to the payment of Chief and Senior Executives and Director Fee Levels across New Zealand.
The dramatic fall in economic activity as a result of the pandemic has changed much of the debate around pay.
Pay Equity is an important issue that has been a key focus for many businesses and governments over the past few years.
As we move into a world changed by the Covid-19 pandemic, we understand that in times of crisis business focus may change and addressing pay inequity may move down the priority list. But this is still an important issue to be addressed, in some ways now more than ever.
While common strategies for employee retention have proven tried and true, there are some clear winners post-Covid that are likely to be front of mind for many employees...