PAY STRUCTURES
New reward structure introduced at N&P
The Norwich and Peterborough Building Society has introduced a new reward structure with pay progression linked to the attainment of skills and knowledge within a career progression framework, according to a case study published by Industrial Relations Services.
| What you will find in this report |
| IRS interviewed senior HR people at the N&P. Over four pages, this case study examines how and why the building society introduced a new reward structure which features: |
| A five-level job framework replacing a 12-grade structure. |
| Career progression frameworks - personal development plans which show staff what qualifications and competencies they need in order to progress in their job and how these are linked to pay. |
| Salaries based on market rates for similar jobs in the financial sector. |
Want to know more?
Title: "Building a new pay framework", IRS Employment Review 758/Pay and benefits, 19 August 2002.
Availability: Contact the subscriptions department at Industrial Relations Services in London, tel: 020 7354 6742.
For more details jump to the IRS Employment Review web site . . . www.irsemploymentreview.com