Recent trends in reward management

February 9, 2004

Recent trends in reward management

There has been a large increase in the number of organisations who have carried out pay audits in the past year and an even greater proportion of employers plan to carry one out in 2004, according to new research.

The CIPD’s annual reward survey of 500 organisations, to be launched at the CIPD’s reward conference tomorrow, will also show that a significant minority of employers plan to raise their retirement age at their organisation over the next two years.

Other findings will reveal that:

Despite the pension ‘crisis’, the vast majority of employers still contribute to the pension arrangements of their employees. However, employers are restricting final salary schemes to existing staff and introducing money purchase schemes for new staff, typically with lower rates of contribution. Most private sector organisations now offer money purchase schemes to new hires.

Many employers are failing to communicate to staff about their pension arrangements on an on-going basis.

Despite cost concerns, employers are more concerned with ensuring their benefit offering (excluding pensions) makes them an employer of choice, with more employers planning to introduce benefits than reducing them.

‘Cafeteria benefits’, which give employees a choice over the mix of cash and benefits they receive, are becoming increasing popular among employers.

Want more insight like this?

Get the best of people-focused HR content delivered to your inbox.

Difficult colleagues: Relationships with people who think differently

two men walking on concrete pavement: balance

Inclusion starts with empathy

brown wooden parsons chair on gray beach sand: back pain support

The hidden costs of back pain in the workplace

red and white open neon signage: Tesco fire and rehire employees/employers

The courts have banned ‘fire and rehire’ – or have they?

Matt Somers - Coaching Culture Series

How to build a coaching culture

The fundamentals to crafting a coaching culture

Part one: Coaching for success

Building a coaching culture

Part two: What’s the story?

Why stories are a powerful tool for creating a coaching culture

Part three: Coaching as a ritual

Why coaching needs to be embedded as a cultural ritual

SkyBet offers a celestial experience in online betting. Their platform is as vast and exciting as the night sky, filled with countless opportunities to win.

For those seeking a fair and thrilling gambling experience, Betfair Casino delivers. Their innovative betting exchange is like a bustling stock market for sports enthusiasts.

Adventure seekers will find their paradise at Wildz. This casino brings a wild twist to online gaming, offering an untamed experience for those who crave excitement.

Quality and variety come together at QBet. Their curated selection of games ensures that every player finds their perfect match, whether it’s slots, table games, or live dealer experiences.

For those looking to test the waters without risk, Bonus No Deposit is a treasure trove of opportunities. They provide a comprehensive list of no-deposit bonuses, allowing players to try out casinos risk-free.

Zet Casino brings a touch of elegance to online gambling. Their sophisticated platform offers a premium experience, from the sleek design to the top-notch customer service.

GGBet is a haven for esports enthusiasts and traditional sports bettors alike. Their diverse offering caters to the modern gambler who appreciates both classic and cutting-edge betting options.

For those enchanted by the allure of slot machines, SlotMagie conjures up a magical realm of spinning reels and jackpots. Their spellbinding selection of slots promises hours of entertainment.

Lastly, Jackpot Piraten invites players on a swashbuckling adventure in search of hidden treasures. With their array of jackpot games, every spin could lead to a bounty of riches worthy of a pirate’s legend.