MERGERS AND ACQUISITIONS
Standardised reward system introduced across NAG Europe
Aligning reward policies and practices after a merger can represent a formidable challenge for HR and compensation professionals. Pay analyst Industrial Relations Services has just published a case history examining how the process was managed at the National Australia Group, a financial services business.
Until 1998, NAG was organised into semi-autonomous business units, which included the Yorkshire, Clydesdale and Northern banks, each with their own pay and grading systems.
New arrangements
In January 2000 it introduced a new streamlined reward system across the majority of its subsidiary banks, including:
a new ten-grade structure underpinned by Hay job evaluation
the introduction of 32 job families
a revised performance pay matrix.
What you'll find in the IRS report:
Spread over four pages, the IRS study looks at the following issues:
how NAG Europe harmonised the different pay and grading systems
the process used
the details of the new arrangements
lessons learnt.
Case-study details
Title: Integrating pay and benefits at NAG Europe , Pay and Benefits Bulletin 511, January 2001.
Availability: Contact the subscriptions department at Industrial Relations Services, tel: 020 7354 5858, or for editorial enquiries email the editor jeremy.baugh@irseclipse.co.uk.
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