The impending challenge with pay and reward

Employ­ee rat­ings are a chal­leng­ing and stress­ful time for every­one involved. For man­agers who need to eval­u­ate the per­for­mance of every team mem­ber they have, for HR work­ers who need to review and analyse the find­ing of the rat­ings, and for the employ­ees, who wor­ry what the out­come will be, and if they will be rat­ed fairly.

This is even more stress­ful now than ever before! Right now infla­tion is at its high­est since the ear­ly 80s, mean­ing com­pa­nies are hav­ing to tight­en their spend­ing, but employ­ees are want­i­ng more mon­ey to com­bat their ris­ing liv­ing expenses.

Along with this, the great res­ig­na­tion remains an ongo­ing issue for many organ­i­sa­tions, with a great deal of employ­ees remain­ing on the brink of leav­ing jobs to seek out an employ­er who can meet more of their needs. In gen­er­al peo­ple expect more from their employ­er than ever before, it’s no longer the employ­er who holds the pow­er, who can set the rules no ques­tions asked.

This all adds up to a high amount of pres­sure for organ­i­sa­tion leads to ensure they are get­ting rat­ings, pay, and reward right. With a lim­it­ed pot for bonus­es and wage increas­es, and many employ­ees weight­ing their options on whether now is the time for a career move, how organ­i­sa­tions move for­ward with their pay and reward deci­sions, could have a huge impact long term.

Fur­ther­more, many of the ways organ­i­sa­tions cur­rent­ly rate their employ­ees are flawed, lead­ing to incor­rect and unfair results, and run­ning the risk of top tal­ent get­ting over looked, ulti­mate­ly leav­ing to go some­where they are bet­ter appreciated.

But what can organ­i­sa­tions to do com­bat all this? How can they find their true top per­form­ers, how can they fair­ly han­dle pay and reward in today’s tur­bu­lent times?

In an attempt to shed some light in these mat­ters, we have decid­ed to ded­i­cate the next three months to deliv­er­ing con­tent that can help pro­fes­sion­als who have to make deci­sions relat­ing to the rat­ing, pay and reward.

With help from our Inno­va­tion Direc­tor Nick Gal­limore, and Work­place Psy­chol­o­gist Ian McRae we’ll be putting out week­ly, edu­ca­tion­al pieces of con­tent, includ­ing blogs, videos and guides, that will con­tain help­ful insight into mak­ing fair and informed decisions.

Con­tent will cov­er sub­jects such as, the issue with rat­ing on a bell curve, how to man­age pay and reward with­in a con­tin­u­ous per­for­mance man­age­ment mod­el, a guide to iden­ti­fy­ing and reward­ing top tal­ent, the future of work­place incen­tives and more.

If you’d like to find out more now, you can talk to our team to find out how Clear Review can help.