REWARD FUNCTION
E-reward publishes UK Reward Census 2007
The reward profession seems to be thriving at the present time, with a net increase in staffing levels, greater recognition and high levels of job satisfaction. These are some of the main findings to emerge from e-reward's UK Reward Census 2007. It provides the most up-to-date and revealing insights into how the reward function is changing and how the role of the reward practitioner is evolving.
What's more, the reward profession is also a career with good opportunities for women, when compared with other professions. Employers are becoming more serious about reward issues – three-quarters of organisations operated distinct and specific reward functions.
Key conclusions
The reward profession seems to be thriving at the present time, with a net increase in staffing levels, greater recognition and high levels of job satisfaction.
It is also a career with good opportunities for women, when compared with other professions, with many in senior positions.
Employers are becoming more serious about reward issues – three-quarters of organisations operated distinct and specific reward functions.
They also recognise that reward is a specialist area that requires experts to cope with the increasingly complex nature of the subject.
In general, where there have been new developments, large companies were the most likely to be at the forefront of new approaches.
A growing number of organisations are taking more strategic approaches following such well-known models as the one first developed by US academic David Ulrich.
There seems to be greater awareness of strategic priorities, as endorsed by expert commentators, with communication and employee engagement regularly mentioned by a number of our respondents.
In contrast, there seemed to be less mention of some of the other recommended approaches such as keeping reward messages simple, line management involvement and appropriate focus on implementation as well as reward design.
It is also clear that reward professionals appear to be moving in the right direction when it comes to designing and implementing new policies. We asked respondents to indicate the three most significant drivers of change for the future, and the most commonly mentioned answers were: Need to ensure reward is communicated clearly and effectively to staff; Ensure reward enhances the engagement of employees; Need to provide increasing input to business strategy and our organisation achieving business success.
To order your copy of the report
Title: UK reward census 2007.
Issue no.: E-reward research report no. 56
Publication date: 6 February 2008.
Pages: 59.
Price: The report is available as part of our paid-for subscription service. A single annual subscription (11 issues a year) costs £255 plus VAT.
Availability: Published by e-reward.co.uk. Complete the simple online subscription form at www.e-reward.co.uk/subscribe.asp