REWARDING PERFORMANCE
Axa Sun Life moves from team to individual pay
Team reward may well offer some important advantages, but its adoption and use is by no means a simple task. Such a move can be high-risk. Indeed, Axa Sun Life ran across some stumbling blocks, according to a report by Industrial Relations Services. So, its now moved to a system linked to individual performance.
Axa Sun Life, the UK life and pensions arm of global insurance giant Axa, employs 3,500 people in its Bristol head office and regional centres. Although team pay served the company well during the 1990s, this approach was seen as incompatible with its new business strategy. What’ s more, team pay was starting to cause a few headaches.
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Title: From team to individual pay , IRS Employment Trends 744/Pay and Benefits, 28 January 2002.
Availability: Contact the subscriptions department at Industrial Relations Services, tel: 020 7354 6742, or for editorial enquiries email: Jeremy.baugh@irseclipse.co.uk.
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Posted 1 March 2002