Even if the MD is not initially interested, these approaches may help gain traction and create a foundation for broader D&I initiatives.
Define objectives (e.g., sales targets, performance metrics). Set eligibility criteria (e.g., roles, tenure). Determine the structure (e.g., percentage of sales, fixed amount). Establish payout frequency (e.g., monthly, quarterly). Outline terms and conditions (e.g., clawbacks, performance reviews, and consider bonus rules). Communicate clearly to employees. Document the scheme in writing and make sure it’s non-contractual. For […]
Read moreThere is no legal requirement for employers to pay extra for overtime unless it’s stated in the employment contract. Contractual Agreements: Employees are entitled to that agreed rate if overtime pay is specified in the contract. National Minimum Wage: Overtime pay cannot fall below the National Minimum Wage or National Living Wage. Voluntary Overtime: Employees […]
Read moreMarket Research: Regularly benchmark salaries against competitors. Adjust for Inflation: Consider cost-of-living adjustments (COLA). Flexible Benefits: Offer non-salary benefits like bonuses and wellness programmes. Transparent Pay: Make the pay structure clear to employees. Retention: Provide career development and promotion opportunities. Reward Systems: Use performance bonuses or profit-sharing. This helps retain talent and keep pay competitive.
Read moreIdentify Gaps: Assess current skills and determine where gaps exist. Have a robust succession plan in place. Develop Talent: Offer training, mentoring, and development programmes to prepare employees for new roles. Encourage Career Growth: Create clear career progression paths to motivate employees to upskill. Internal Job Postings: Advertise openings internally to encourage existing employees to […]
Read moreProvide development plans, meaningful recognition, fair, consistent pay practices, and flexible working where possible. Exit and stay interviews reveal what to fix before people leave.
Read moreLead by Example Ensure leaders model inclusive, respectful behaviour and promote open communication. Promote Diversity Actively recruit diverse talent and support inclusion through training and employee groups. Encourage Employee Voice Create safe channels for feedback and involve staff in shaping workplace values. Recognise and Celebrate Acknowledge achievements and celebrate cultural events to build connections and […]
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